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There has been substantial criticism over the austerity measures implemented by most European nations to counter this debt crisis. US economist and Nobel laureate Paul Krugman argues that an abrupt return to "'non-Keynesian' financial policies" is not a viable solution [18] Pointing at historical evidence, he predicts that deflationary policies now being imposed on countries such as Greece and ...
The history of the European Union between 1993 and 2004 was the period between its creation (replacing the European Economic Community) and the 2004 enlargement. The European Union was created at the dawn of the post– Cold War era and saw a series of successive treaties laying the ground for the euro, foreign policy and future enlargement .
The European balance of power is a tenet in international relations that no single power should be allowed to achieve hegemony over a substantial part of Europe. During much of the Modern Age, the balance was achieved by having a small number of ever-changing alliances contending for power, [1] which culminated in the World Wars of the early 20th century.
Denmark is a European leader on economic freedom indices. Denmark has ranked as the world's 11th "most free" economy, of 162 countries, in an index created by The Wall Street Journal and The Heritage Foundation, the Index of Economic Freedom 2008, while keeping at the same time a huge public sector (58.4% of GDP), [44] the highest tax burden ...
The European Union (EU) is a supranational political and economic union of 27 member states that are located primarily in Europe. [9] [10] [11] The union has a total area of 4,233,255 km 2 (1,634,469 sq mi) and an estimated total population of over 449 million.
Euro Zone inflation. The euro came into existence on 1 January 1999, although it had been a goal of the European Union (EU) and its predecessors since the 1960s. After tough negotiations, the Maastricht Treaty entered into force in 1993 with the goal of creating an economic and monetary union (EMU) by 1999 for all EU states except the UK and Denmark (even though Denmark has a fixed exchange ...
The body is responsible for drafting all law of the European Union and has a monopoly over legislative initiative. It also deals with the day-to-day running of the Union and has a duty to uphold the law and treaties (in this role it is known as the "Guardian of the Treaties"). [13]
The politics of Europe deals with the continually evolving politics within the continent of Europe. [1] It is a topic far more detailed than other continents due to a number of factors including the long history of nation states in the region as well as the modern day trend towards increased political unity amongst the European states.