Originated as a deal to keep the peace in Europe following world war II Started in 1950 to unite its founding countries economically

The Union grew over time as more countries wanted into the free-trade area  In 1993 the Single Market is completed with the 'four freedoms' of: movement of goods, services, people and money

The EU introduces its own currency to further bring down borders A European Parliament makes European Laws is established in Brussels, Belgium

PIIGS Portugal Italy Ireland Greece Spain All these countries are EU members The governments of these countries have spent all the government’s money

PIIGS To keep the governments and the Euro zone from going bankrupt, the Germans constantly loan them money German tax payers now pay for the debt of other countries

PIIGS and Germans Because the Germans pay these countries they also tell them what to do Germans make them pass AUSTERITY laws Raise Taxes Cut government spending Social Programs Cut minimum wage

The Effects of Austerity Massive protests in Spain, Greece, Ireland and Portugal against the government and especially against the Germans

Austerity Merkel accused of being an Austerity Nazi Leads to unemployment and poverty