The Future of The European Union Analysis Essay

The Future of The European Union
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The Future of The European Union
Global or continental economic blocs are usually formed to solve specific economic issues that distinct member countries cannot solve independently. These blocs, therefore, act as the umbrella that shields the members from the regular fluctuations in the global market. The strength of these blocs, however, lies in the membership. As a result, the blocs get their strength from the combined strength of the individual nations. When it comes to the E.U., for example, the exit of the U.K is bound to have a lot of impacts on the regional bloc as a whole.
The conglomeration of 28 European countries into a single free market under the European Union (E.U.) umbrella in 1999 played a crucial role in uplifting the economic status of the regional body in the world economic sphere. Free trade between E.U. countries propelled the body to become the world's largest economy with a 20% share of the global economy (Viking River Cruises, 2014). However, various crises in the recent past are projecting a bleak future on European Union stability. From the crises and observation of the current situation, it is convincible to argue that as much as European Union will continue to hold in the future, it will be weaker unstable than the previous years. The projection is informed by various issues, including the rise of nationalist government and parties among E.U. member states, a threat to the populist culture that enables E.U. member states to relate well among themselves and other countries at large.
The British's withdrawal from the Union also presented further instability to the body, considering London's position as the top trading hub in Europe until Amste...