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    European Union Economy

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    Given that the most integrated region in the world has been the European Union (EU), which started as early as 1993, Has it been a success or failure so far? Why?

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    The European Union has been a failure so far. The integration was based on common currency and other economic linkages. The EU has failed.. The specific examples are that the European banks are overloaded with toxic assets and are finding it very difficult to get rid of them. The government austerity programs have hurt the people. 100,000 businesses have closed down and a third of the population is living in poverty. Greece, Portugal, Ireland, Italy, and Spain owe the ...

    Solution Summary

    EU's economic failure is explained in a structured manner in this response. The answer includes references used.