Discuss whether the Euro zone crisis has had an effect on the European Essay

Discuss whether the Euro zone crisis has had an egress on the atomic number 63an desegregation project - Essay ExampleBank of England referred this crisis as the most grave financial crisis at least since the 1930s, if not ever, in October 2011 (Kenny, 2012). This paper explores the history of europiuman integration offset and then explores whether Eurozone crisis has any effect on European integration. History of European Integration Second manhood War has changed the history of Europe immensely. In fact, Europe has been divided into distinctive ideological segments as a result of WW2. einsteiniumern Europe came under the control of communist regime whereas Western Europe was tenanted by democratic regimes or capitalist countries after WW2. Moreover, one portion of Germany (East) came under communism whereas opposite portion of it came under capitalism immediately after WW2. It should be noted that capitalism and communism would neer travel in parallel directions. So, tens ions between communist East and capitalist West of Europe started to step forward after Second World War. Prominent politicians and scholars of Europe such as Winston Churchill realised that the progress of Europe would never be possible if one part of it function in one direction and other part in opposite direction. Thus, the call for regional integration started immediately after the end of WW2. Moreover, the theories of Federalism and Functionalism, typeset forward by prominent scholars gave momentum to the integration process of Europe. The term regional integration gist combining split into a whole, according to the Oxford Advanced Learners Dictionary (Dosenrode, 2010, p.4). Europe was functioning as parts after WW2. For example, the whole Germany was functioning as East and West under two contrasting policy-making ideologies. The fall of Soviet Union during the latter parts of twentieth century gave momentum to the regional integration process in Europe. The introduction of principles such as perestroika and glasnost by former Soviet leader Gorbachev helped the Soviet Union and other communist countries to expel communism from their territories. Majority of the Eastern European communist countries including East Germany embraced capitalism or democracy after the fall of communism in Soviet Union. The Berlin Wall has been undone and the two Germanies became united once again. All these incidents encouraged the regional integration process in Europe in one way or another. Moreover, the progress of Untied States towards prosperity made the European leading aware of the necessities of a European Union (EU) to enhance their potentials for scotch progress. The first pillar of EU was constructed in 1951 in the form of European Coal and Steel Community (ECSC) by the six countries Belgium, France, West Germany, Italy, Luxembourg, and Netherlands. Since then, a series of incidents happened in the integration process of Europe. The EEC Treaty, signed in Ro me in 1957, brings unitedly France, Germany, Italy and the Benelux countries in a community (EEC) whose aim is to achieve integration via trade with a view to economic expansion (Treaty establishing the European Economic Community, EEC Treaty - original text, 2010). The 1960 Stockholm Convention resulted in the defining of European Free Trade Association (EFTA) (Convention Establishing The European Free Tra