Reflection on “The Eurozone Crisis & Brexit”
After WWII, Europe’s leaders established greater economic ties to help prevent future intracontinental conflict and promote mutual prosperity. Since 2008, more than half a century later, the EU faces the biggest financial crisis in its history with its future under great uncertainty. There was the Greek crisis in 2011, and the Brexit in 2016. The video “Imperfect Union: The Eurozone in Crisis” introduces the history and structure of the EU. The video “Brexit Explained” explains the intricacies in Brexit, and the article “Brexit: All you need to know about the UK leaving EU” covers the final Brexit process in 2020 and beyond.
Discuss/reflect EU’s structural problems, how the 2008 global recession contributed to the development of the euro crisis, the rationales behind, the intricate issues involved, and the economical/political implications of the Brexit on both the EU and the UK.
Conclude in your last paragraph how can European Union leaders prevent the collapse of the common currency, and how you would advise UK in structuring its post-Brexit economy?
