European Union faces huge challenges, says economist Martin Wolf at the beginning and lists several of them. This includes: issues related to security protection, freedom, democracy i maintaining social well-being – built since World War II. As the author notes, the task is not made easier by the chaos in government France i German.
“Yet, facing my future, The European Union can build on great historical successes“- says Wolf. This is supposed to be proof of that impressive process of EU enlargementthat the world has watched for decades.
“Not only was the enlargement remarkable, but also the extent of economic convergence between members,” the economist emphasizes and points to three milestones of this process: Convergence Europe Western to living standards in the USA (in the years 1950-1973); the convergence of Northern and Southern Europe to continental Europe (in 1974-1993) and the convergence of Eastern Europe to Western Europe (in 1994-2010).
The rise of the European Union. The economist singled out Poland
Even the financial crisis in the euro zone that occurred in the following years does not invalidate the success of the transformation of the European Union in the author's eyes. Just look at significant increase in GDP Member States that came shortly after.
“All 13 countries that joined the EU between 2004 and 2013, mainly from Central and Eastern Europe, increased their GDP per capita compared to the original six EU countries (2004 – ed.), some of them to a huge extent,” he enumerates.
Wolf he distinguished here, among others, Poland. “For example, Poland's real GDP per capita increased with 40 percent the level of the EU six in 2004 to 73 percent. in 2023,” he noted.
Martin Wolf: The US does not care about weak countries becoming wealthy
Why is this so important? Economist This is illustrated by the example of a relationship on a line Mexico-USA. Mexico recorded a significant decline in GDP (from 35 to 29%), which affected the USA, for example through the migration crisis. “Why Americans don't try harderto make weak countries in this region more prosperous? Likewise, the EU has done too little for Middle East and North Africa,” says Wolf.
In his opinion, “the European Union was a success predominantly internal“, and its mother was wise management.
“But now nnew and even greater challenges are coming. Security provided by United States at best it will happen much more expensiveand in the worst case it will disappear completely. Russiasupported by Chinastates threat to Europe in the east. Ukrainewho desperately wants to enjoy the benefits of being in the EU and NATOrisks being abandoned by those who should know better. Aging EU societies increase fiscal burdens“- says the analyst.
The future of Europe lies in its integrity?
According to Wolf, “the survival of Europe as a whole depends on whether Europeans will have courage and wisdomto meet the challenges of today's era.” He also indicated specific solutions. Europe needs to increase productivity – by building a digital economy, deregulation and deepening integration.
The author also draws attention to the need to implement a common foreign and security policy, as well as to agree on a significant increase in the EU's fiscal resources, through its own taxes and borrowing capacity.
“This in turn will make it The EU will return to the debates of the early 1990s. on political union. It will also be necessary limiting the capacity of resistant members such as Hungary Viktor Orban, to block basic common policies,” Wolf writes, assessing these changes as “radical but necessary.”
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