Will the European Union fall?

The European Union is an ambitious concept but it was broken by the financial crisis of 2008. The financial crisis can be summed up as the aftershock effect of the Iraqi war and cheap money produced by the Federal Reserve, and mismanagement by international banks. But the financial crisis was also a test for the European Union, a test they failed. The crisis redefined the boundaries of the state and corporations. Aside economic consequences the financial crisis also had political consequences. State power was increased and market autonomy was reduced. After all if you don't control your financial system or currency you are deeply vulnerable to the actions of other countries.

The crisis also showed the importance of national sovereignty. And once that was realized the European states were unwilling to give up their sovereignties. There is no quick fix for the crisis and it will continue for several more years. In the end it comes down to one fundamental point. If the European Union members give up their sovereignties, then the Union will survive and if they don't give up their sovereignties then the European Union will not survive.

Category:

News & Politics

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• Will
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• European
• Union
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• Gérard
• Duménil
• wages
• social
• spending
• crisis
• Greece
• greek
• neo-liberal
• collapse
• EU
• death
• eurozone
• Brussels
• debt
• Why
• E.U.
• is
• more
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• than
• of
• euro
• Collapse
• apart
• Nationalism

[stuffmaster1000]

Nice video!By the way where are you from?You look just like my cousin.

[CaspianReport]

@stuffmaster1000 Thanks, Im from Azerbaijan.

[Exupery1976]

Nice job!

By the way, the T is mortgage is silent, and it's the Japanese yen not the jen. I teach English, so thought you might want to know for your future videos.

[CaspianReport]

@Exupery1976 Thanks for the heads up regarding the pronunciation. I pronounce it in my native language :)

[MercenaryBlackWaterz]

@CaspianReport Nice analysis as always!

What do you think will happen to Greece if it leaves the EU? will it fall apart as a country as some have said? Will there be a conflict with Turkey or will it just be like Iceland and it will be back to regular business in a few years?

I'm interested in your opinion thanks.

[CaspianReport]

@MercenaryBlackWaterz A good question. I think the first and most obvious would be a decline in GDP, up to 10%. The Greek debt problem has its origins in the Cold War, Athens relied on US funding for decades and after the collapse of the USSR, the US lost interest in Greece and stopped the funding. So the Greek problem cannot be solved without major external funding. As for Turkey, there will be no conflict between the two. The Turks are focusing on the Middle East, Caucasus and Balkans.

[xortanoffski]

die hundine!! 

[StellandBlood]

@LordOrlock One thing is to remove those countries from the Euro(the great majority in those countries would agree)creating 2 economic areas,SE,and NE,with their respective currencies,yet interconnected politically,other very different is to make a North European Union sending those countries to fuck themselves,neither forgotten or forgiven that would ever be,thats a nice way to place in the short/medium run,Italy,Spain,Portugal,Greec­e,and some others,in the Shangai pact.

[OccultusSolis]

No it won't,not until it has come to its final destined form.

[amirova]

Sahol Gagash 

[stuffmaster1000]

@CaspianReport I'm iranian :)

[NewNily]

I think I need some time to process all this information, but excellent report though

[rejedef]

What you call Eastern Europe is actually Central Europe. Please consult: 141.74.33.52/stagn/JordanEurop­aRegional/tabid/71/Default.asp­x Otherwise it will be great as a presentation.

[NTWJohnPershing]

The E.U. will not collapse it would coast even more to stop the euro and go back to various currencies.