Word: european
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With merciless ferocity, the credit crunch has taken its varying toll on each of the European Union’s 27 diverse nations, dashing many semblances of unity among member governments. The need to “stick it out in tough times” is easier said than done. The largest and most threatening fracture divides new EU countries from old and has caused Prime Minister Ferenc Gyurcsany of Hungary to warn against “a new Iron Curtain” that could once again divide the continent. A solution must be formulated to prevent that development...
...Several Eastern European countries, including Hungary, Romania, and the Baltic states, are in a state of near meltdown, yet Western nations are prioritizing their own domestic difficulties. In the name of self-preservation, European solidarity, and long-term political strength, western EU countries have no option but to aid their neighbors. As severe recessions plague even the strongest economies in Europe, however, the cost of solidarity will undeniably be expensive...
...Indeed, the strife caused by the credit crunch only heightens the importance of economic unity. A shared currency, cross-national lending, and numerous Western investments in the East intrinsically link the welfares of European countries. Should one country go under, the detrimental effects felt across the whole of Europe would be monumental. To an even greater extent, the well-being of the European Union as a whole depends on the respectable performance of each constituent member. Failure to remain united may breed disillusionment with Western capitalism and leave Eastern Europe dangerously susceptible to Russian influences. Thus, for the sake...
...course, given today’s universal economic problems, Western European countries will face both economic and political difficulties in sending money abroad. Even Europe’s strongest economy, Germany, is predicted to shrink by two to three percent this year, the worst performance since World War II. The recession has hit every country in Europe and has given rise to an upsurge in nationalist sentiments. Both the UK and Germany are due national elections in the next year or so, and leaders are astutely aware of the demands of their public. Nevertheless, politicians must do their utmost...
...Letting the cool ocean breeze wash over me as I looked out at the Caribbean from the bar's perch on an antique turret, caipirinha in hand and a well-heeled crowd of European and Latin American dancers twisting before me to the ever present salsa, I couldn't have agreed more: if there exists an antithesis of Afghanistan, Cartagena...