The strenght of the EU

In our latest video, my team and I analyzed the strenght of the EU during this crisis. As we have recently been learning about the levels of Economic Integration, I believe this is a good time to see the advantages that an Economic Union, like the European Union can bring.

As the crisis deepened, it was thought the EU might break apart, due to the richer countries not wanting to pay the debt of their poorer counterparts in the Union. Since most countries in the EU use the Euro as their currency, the old tactic of devaluating their currency would no longer work, so what these countries needed was someone to help them pay their debt.

This is where the Economic Union comes to play. Thanks to the coordination of their economic policies, and with the ECB (European Central Bank), the EU managed to remain quite intact, and also become stronger! Because every country helped the others in someway, either by supplying workers, or money to pay the debt, the EU is now economically and also politically stronger.

Do you think that, by seeing this example, USA, Canada and Mexico could potentially agree to make a NAU (North-American Union)? Do you think they would see the benefits of working more closely together? Or do you think that pride, or the notion that they can solve their own problems would interfere?