European Union 1993-Present

EU Countries

Name famous places in France.  The Louvre One of the largest museums in the world Houses, arguably, the most precious art pieces  The Eiffel Tower Built for the 1889 World’s Fair Most visited (paid) monument in the world

Name famous places in the UK.  Tower Bridge Suspension and draw bridge – good luck  Big Ben Second largest four-faced clock tower in the world Renamed Elizabeth Tower in 2012  Stonehenge Built in BCE Mystery!

Name other famous places in Europe.  Roman Colosseum Built in CE  Leaning Tower of Pisa Don’t build on soft ground… especially in the 1100s  Sagrada Familia Barcelona, began to build in 1882still not finished  Parthenon Athens, built in 438 BCE  Trevi Fountain Rome, largest Baroque fountain in the world

Why was the EU created?

Reaction to WWII  Europe’s competition and divisiveness created animosity which led to war.  If the countries of Europe are more dependent on one another, the likelihood of more violence and war decreases.

Tariffs  What is a tariff?  How might tariffs cause conflicts between countries?

Begins in 1957  Treaty of Rome  Common market – European Economic Community Elimination of tariffs Forge a common agricultural policy  Promote and monitor nuclear energy – European Atomic Energy Community

Widening and Deepening  Widen Geographic expansion  Deepen Remove barriers Increase degree of integration

Formalizes in 1993  Maastricht Treaty  Goals of the European Union an economic and monetary union (Euro) a common foreign and security policy

Expansion of the EU  Dublin Constitution appointment of an EU president appointment of an EU foreign minister Legislation would be approved by both the appointed Council and the elected European Parliament  DEFEATED IN RATIFICATION 

Fear of the EU Why was ratification defeated? o economic issues and fear o unease over a growing number of immigrants o erosion of national identity o “democratic deficit” most leaders were appointed

Lisbon Treaty, 2007  New treaty created with some of the Constitutional issues resolved  Needed ratification of all 27 members Ireland sent it to the voters, they rejected it. But ratified it a year later, with some changes.

Governing the EU  What does the US government look like? Draw a picture or diagram depicting how our government works

Governing the EU  European Commission Qualified majority voting – weighted votes according to population  European Parliament  European Court of Justice  National vetoes removed in some policy areas  No reference to a flag or anthem

Entry Task  Answer each item in your notes… What is our economy dependent upon? What are some of the labor laws we have developed over the last 150 years? Please describe the US economic philosophy.

Eurozone  Those member nations that use the Euro Not including the largest economy in Europe – United Kingdom  Intended to create a stable economic powerhouse.  Specific financial criteria That no one really paid attention to…

Economic Crisis  Exposed weaknesses in EU European governments in too much debt Inconsistent fiscal policies in member nations Inability of the EU leaders to react quickly Inability of the European Central Bank to do what the FED did

Entry Task  Define in your notes… capitalism socialism mixed economy

Economic Crisis  Greece Widespread tax evasion Massive spending with borrowed money  Italy Enormous national debt  Ireland Under-regulated banks  Spain Real-estate collapse Led to 22% unemployment

Economic Crisis  Germany Largest economy in the Eurozone Dependent upon trade surpluses sustained by the debt-ridden, high consuming EU members  Inability to borrow money Greece, Ireland, and Portugal  BAILOUTS With austerity measures to reduce deficit

Austerity Measures  Increase taxes  Decrease government spending

Strong Labor Unions  Europe has a history of strong labor unions  Like the U.S., the acceptance of labor unions kept most of those countries from communist revolutions  Labor union power has increased over the last two decades

Strong Labor Unions  France Difficult to fire anyone Blamed for increased unemployment Led to Paris law allowing anyone under 26 to be fired within the first two years of employment for any reason  Greece Difficult to fire anyone 80 paid holidays throughout the year