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Summary Regionalism Notes
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Regionalism – NotesThe growth of regionalism
The EU is an example of a regional bloc that focuses on economic and political union
Member states have integrated so widely and deeply that it can arguably be seen as an
example of federalism
- Federalism: regionalism theory suggests that a centralised federal body exercises power,
acting on behalf of the regional bloc
In a federal system, power is shared between a central authority above nation state level
and state level authority
Just as states have looked for means of global governance at international level, working
through the United nations, States and also try to find ways of working together at regional
levels (EU, NAFTA)
Regional organisations were founded to give states smaller, and more focus means of
working together
Why a European Union
The EU was originally founded to further economic and political cooperation within Europe
between states that fought two world wars only two decades apart
Peace and security
The EU has been very successful in preventing violent conflict between its member states
In 1951, France West Germany, Belgium, the Netherlands, and Luxembourg signed the
Treaty of Paris which established the ECSC
The coal and steel which regions between France and Germany were key natural resources
fought over during both world wars
The ECSC subsequently became part of the EU
While the initial reasons behind the EU economic, it came into being at a time when Europe
was keen to promote peace and stability having just emerged from the WW2
The initial trade agreement was a way to ensure this peace and stability but encourage
incorporation in reducing competition and conflict, especially between France and Germany
It has left the EU with a legacy and clear mission to promote the liberal values of democracy
(Democratic peace theory)
Overtime, the level integration has become so deep between EU member states that the
idea of war is now unthinkable
The EU was awarded the Nobel Peace Prize in 2012 in recognition of its contribution to the
advancement of peace and reconciliation, democracy, and human rights in Europe
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, Economic union
The core of the EU project has been a deepening of economic in one trade union between its
member states
In 2002, the first regional shared currency came into operation (Euro)
The EU has focused on removing tariff and non-tariff barriers to trade between EU member
states
- Tariff barriers: Taxes and charges that the government of the state receiving imports
adds to these imports
- Non-tariff barriers: other barriers to free trade, which include quotas or other measures
that restrict trade
The four freedoms of movement are key features of the European single market
1. People
- Under the Schengen if you mean 26 European states including non-EU member states
created travel zone in which there are no border or passport checks
- This allows for free movement of people, while EU member states citizens are free to
live and work without restriction in other EU member states
2. Goods
- Single market member states have removed all customs tracks and restrictions within
the single market region
- This allows for free movement of goods between member states
3. Capital
- Large amounts of money used for payments or investments can be moved freely
without restriction within the single market
4. Services
- Companies within the EU are free to set up companies and provide services in other EU
countries
The use of the euro
States gave up their national currencies such as the French franc for the euro
The eurozone now has 19 member states using its currency
Challenges for the euro include
- The creation of new EU institutions for the eurozone in the form of the European Central
Bank which has the power to set monetary policy for eurozone area
- All members of the eurozone tax and spend responsibility, and the eurozone sets non-
binding guidelines for states to follow
- Following the global financial crisis in 2008, when Greece experienced a debt crisis and
required the ECB another eurozone member states to bailout its economy the guidelines
came under severe pressure
- In 2012, the European Fiscal Compact was signed as a legal intergovernmental treaty
requiring states to keep their national budgets in balance or in surplus
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