The 1970s were disastrous for European Integration. Discuss

European Integration can be defined as a process of ever closer union among the constituent states in terms of common policies, enlargement, and institutions. I allow for accent on these aspects in order to understand whether they led, during the 1970s, towards more than supranationalism -that is a transfer of legal authority and decision-making power from component states to institutions aiming at common interests- or to the contrary toward more intergovernmentalism, where the states assoil decisions on the basis of their competing national interests (McCormick 2005: 5). Partly in a desire to relaunch European integration, the Community decided, in the early 1970s, to bring in an Economic and financial Union (electromagnetic unit). However, the collapse of the international financial system and the 1973 competency crisis led to exchange rate asymmetry and economic recession, which bad damaged the Communitys solidarity. Since several European currencies could non be st abilized, the EMU project, around 1974, was quietly abandoned. The creation of the European Regional using Fund (ERDF) in 1975 intended to align the structural regional discrepancies but was, despite its supranational status, to the highest degree incapable of competing with the steer national instruments -into which the member states withdrew in the mid-1970s (McAllister 1997: 117).

Roy Jenkins, the chairperson of the European Commission, advocated in October 1977 the idea of monetary union as the safest way to revitalize European economies and to solve inflation and unemployment. A year later, the Franco-German axis championed the E uropean Monetary System (EMS), aiming to pe! rk up exchange evaluate between the member states currencies around a European currentness Unit (ECU). Although Britain finally refused to join, the EMS entered into force in March 1979 and turn up to be a milepost in the uniting of the Community. Considered as the only truly colligation policy of the Community, the Common boorish Policy (PAC) may appear, in the... If you want to get a full essay, order it on our website: BestEssayCheap.com

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