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A Fragmentation Of The Eurozone Essay

939 words - 4 pages

For many years, discussions of international economics have increasingly contained the word “globalization” and have resulted in the creation of a view of the world as globalized, as a place where there are no international boundaries dividing nations. The general idea presented is that “…globalization, technological innovation, and unfettered free trade would erase historical and geographic boundaries…” (Foroohar 67). In a globalized world, all nations would be more connected and look strikingly more similar than before. This, however, does not seem to be the case. The ongoing crisis in the Eurozone illustrates that the world is becoming more increasingly more fragmented than unified, an ...view middle of the document...

Monti’s comments once again highlight the growing divisions of Europeans throughout different Eurozone nations and reinforce the idea that these nations are becoming more fragmented rather than more unified. Mr. Monti went on to say, “And it is very, very important that we all take this with great attention in order to avoid that something that was meant to be the culminating point of the European construction -- namely, the single currency -- turns out to be, through psychological negative effects, a factor of disintegration of Europe," (Clemons). This statement on its own highlights the belief that the euro and the crisis surrounding it is quickly and easily fragmenting the European system rather that the euro was supposed to unite.
The intentions and the actions of larger and stronger Eurozone nations have also had a major contribution to the idea that there is a growing fragmentation of the Eurozone. Germany, the bloc’s economically strongest nation, has demonstrated the growing fragmentation in many ways throughout the crisis. As previously discussed, many strong nations, with Germany at the head, are pushing for the implementation of specific policies in order for struggling nations to receive aid, despite the fact that these policies are often unpopular (Boyd). These actions by larger countries have shown that their interests lie in promoting policies of which they approve more than aiding these failing economies, an action that has caused increasing anger and distaste between these European nations. Leaders of anti-Eurozone political parties in Germany have also continually asked to see “…Germany and other stronger eurozone countries create their own currency while allowing the weaker ones to get their houses in order,” (Nelson). This idea in itself promotes the fragmentation of Europe—let the strong countries unite economically and leave the weak ones to deal with...

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