Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Spain was, at one point, held up as a model of the benefits of regional integration. Its economy, and construction sector in particular, was booming, and the government was running a surplus. However, the underlying lack of balance in the Spanish economy was a problem that derived from regional integration and would soon leave Spain with a massive long-term economic problem, perhaps evidenced most dramatically by the 57.7% youth unemployment rate that threatens to wipe out the economic productivity of an entire generation of Spanish youth (Silvera, 2014).
The benefits of regional integration -- found in the form of the European Union and the Eurozone are that it is supposed to promote easier flow of capital and labor, so that the region's economy functions more efficiently. While this is true on paper, in the real world economic efficiency is not necessarily an optimal outcome. For example, there is no system by which those areas that benefit strongly from integration will assist those regions that do not benefit as strongly. Hernandez, Novell and Fabregat (2000) showed that pre-euro there was no evidence...
This is contrast to the predictions of the economic doctrine that underlies integration.
After the creation of the euro, there was some evidence of specialization, in particular in the real estate sector. Spain was deemed to have comparative advantage in nice weather, a benefit for the retiring class from northern countries. Spain experienced a real estate boom and then bust, but became so dependent on that construction economy fuelled by ease of capital movements that the country is still in denial that the bubble has burst (Smyth, Callanan, Doyle, 2012).
The problem with regional integration is that while it promotes easier capital flows, there remain limits on labor flows. Capital flows led to the housing boom, which distorted the Spanish economy and removed incentive for diversified investment. The problem is that when the focus of European economic development shifts to another region, labor movement still faces barriers. While technically…
References
Silvera, I. (2014). Spain's youth unemployment rate hits 57.7% as Europe faces a lost generation. International Business Times. Retrieved March 7, 2014 from http://www.ibtimes.co.uk/spains-youth-unemployment-rate-hits-57-7-europe-faces-lost-generation-1431480
Hernandez, E., Novell, J. & Fabregat, D. (2000). Regional integration and specialization patterns in Spain. Universitat de Barcelona. Working Paper No. 62.
Smyth, S., Callanan, N. & Doyle, D. (2012). Spain real estate madness continues despite burst housing bubble. Financial Post. Retrieved March 7, 2014 from http://business.financialpost.com/2012/05/02/spain-real-estate-madness-continues-despite-burst-housing-bubble/
EU Energy Crisis The European Union Energy Policy Energy dependence appears to be the looming concern for the European Union. Last year alone the import figures required to meet their energy needs were at 54% and this number is expected to rise marked to perhaps as much as70% by 2030. The unfortunate cause of this dilemma is that as a whole the EU possesses a minuscule amount of worldwide oil reserves -
" (Information Society and Media, 2005) f. The eContent Programme and the eTen Programme The 100 million dollar eContent Programme (2001-2005) focuses on encouraging growth and development of tie European digital content industry. This programme funds projects with short time-to-market and as well experiments with new models in business and partnerships through use of technology that is presently available. The programme's stated 'main thrust' is to; Improve access to an expand the
ASEAN-EU Regional Integration Coordination between ASEAN and EU started in 1980 after the formulation of a cooperation agreement. The EU has twenty five member countries and engages in several multilateral trade cooperation and relations. The EU is influential because of its extensive economic cooperation with other regional organizations through trade agreements. It is also a central player in the world trade organization. ASEAN is exemplary for demonstrating consistent excellence in improving and
A core weakness in the current dynamic seems to be the laxity of enforcement on the part of the EU with respect to this issue of citizenship. According to EU Facts, "although they had to improve their citizenship process in order to join the EU in 2004, a significant proportion of the population (10% of Estonians and 19% of Latvians) have still not been given these rights. Relations with Russia
However, the scope and the activity of the European Court differentiate it from any other mechanism of applying the justice inside the European Union. There is the issue of the activity of the Court. This mechanism was designed to enable both the European Union and the member states to have a viable and legitimate environment to discuss and resolve their differences. More precisely, the European Court of Justice has
Net Assessment: U.S. And the EU THE U.S., THE E.U. AND TERRORISM A Net Assessment Relationship, Dependence and Vulnerabilities The Past and the 9/11 Event The United States and the European Union did not have a direct organizational connection on counter-terrorism since the 9/11 event except through multi-lateral collaborations like the Interpol, the United Nations, the Financial Action Task Force and similar fora (Segell, 2004). In view of a common concern and as an