EU a zone of prosperity that is relatively well protected against contemporary financial crises

By Michel Rocard
Wednesday, Nov 24, 2004,Page 9

........Sixty years after the end of the last war -- a pittance in the light of history -- 25 European nations, including nearly all of the countries on the continent, are united in a common project that guarantees a definitive peace. The institutionalization of Europe makes war impossible and it motivates reconciliation: between France and Germany, between Catholics and Protestants in Ireland, and soon between Hungarians and Romanians. At the same time, deep economic integration and a common commercial policy make the EU a zone of prosperity that is relatively well protected against contemporary financial crises.

Those who dreamt of a single federal nation, capable of asserting a strong foreign policy backed by potent armed forces, are perhaps disappointed by the shape of today's EU. But it is a mistake to focus too much on the union's shortcomings and ignore the extraordinary reality that exists before us. Although Europe is more a space governed by a shared rule of law than an expression of a unitary political will, it is currently becoming the greatest economic power in the world.......
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