European case Study

The building of a United Europe is undoubtedly one of the greatest historical undertakings of the 20th century. It is a process grounded in the positive values with which our civilization identifies – the preservation of peace, economic and social progress, respect for the person and the predominance of right over might – and, over nearly 50 years for which the process has been under way, there have been some moments of crisis but also major successes. Six countries originally rallied to the concept of a united Europe; now there are fifteen, while more than ten others feel drawn to towards the ideal and have applied to join the European Union.


The Birth of the European Monetary System

The economic crisis of the 1970s led to the first plans for a single currency. The system of fixed exchange rates attached to the US dollar was abandoned. European leaders agreed to create a "currency rope", tying together European currencies.

Maastricht Treaty

In December of 1991 the 15...