Will The EU Fail? | Economics Explained
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In this video we will rank the European Union (EU) as if it were a country on the Economics Explained National Leaderboard, after exploring the economic challenges and opportunities facing all current member states. The EU collectively represents the third largest economy in the world, after China and the USA, with a population of 447 million people and 20 member countries that use the Euro, the second most widely held reserve currency after the USD. The five biggest countries in the EU by population are Germany, France, Italy, Spain, and Poland, and the region has a significant impact on the global economy. However, the EU faces several significant economic challenges, including the debt crisis, Brexit, and tensions with major energy suppliers. We will also examine the potential impact of a non-unified Europe on the global economy and the likelihood of other nations following the UK's example and leaving the union. By exploring these issues, viewers can gain insights into the workings of economic unions and the potential future of the EU.
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You guys are careful enough to keep Kaliningrad out of your EU map unlike many others which is why it is all the more surprising to see you put the UK in the EU.
Hm interesting idea! Kaliningrad independent and joining the EU. Why should the nation state be a given? There are several states with germans, for example. Why not Russians, too?
You think that was a mistake?
Montenegro and Kosovo are not in the EU.
They’ll be back
Kaliningrad is part of Russia
That map of the European Union is beautiful
1. UK rejoined the EU
2. Kosovo joined the EU
3. Montenegro joined the EU
4. Cyprus has become unified.
5. the microstates joined the EU except Liechtenstein.
6. Bulgaria and Romania no longer have a border
7. Gibraltar was conquered by Spain
8. the rest of the map is also hilarious
You guys couldn't have taken 2 minutes to check the map? seriously?
Yea this is pretty bad tbh, discredits the whole video imo
Well this is an economics channel not a geography channel although going by the quality of the economic analysis done on this channel the geographical screw up in the video is no surprise for real. Iv spent the last year raging in the comments at this guy for how wrong his takes are on certain key issues, they don't care they are ideologues pushing an agenda.
He made the wrong map so dumba sses like you could comment on it and improve his YoutUbe algorithm
Is it important to include gibraltar in a discussion about economics? Do they not use the euro?
@@kieran10202 No. They use the pound.
Silicon Valley Bank (SVB) was the 16th largest bank in the US, and it wasn't subject to the most strict controls. How many banks actually are subject to those controls, besides the big four? Any bank could suffer a run and fail, and if that happens to a community level or even state level bank it probably won't upset the national economy or ecosystem of banks, but any multi-state bank should be more closely watched.
These are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Volatility goes both ways. The bigger the red candles, the bigger the green ones
Such a priceless tip, Thank you so much!
This is absolutely fantastic the way good work speaks I practically see Sofia Erailda everywhere
Jesus is OP even a real person?
'said enbrogli ooo
vaticine vaticine
Small suggestion: leave some time before the end of the video, or the suggested videos to watch will cover the actual content. In this case they covered the leaderboard score ;P
I second this. It was quite annoying.
This bothers me so often. Hiding the actual content from viewers is a really bad move.
I was going to mention this too. It's like a DJ talking over the end of a song. :)
It's embarrassing from a seemingly quality channel
Bump
Freedom of movement in the EU is not the same as the US; the language issues are non-trivial. Certainly people manage to move from say Italy to Germany and learn the language and prosper but it is not as easy as moving from Montana to Texas.
Couldn't agree more... Not that much mentioned in this video, language plays a huge role! ..and most of the national labour markets are protected alot by languages
@@OctavianGreculetz Wait for the next version of Large AI based live translators. We might just skip learning too many languages for good ;-)
This largely depends on your definition of freedom of movement. Politically it is identical. I took trains from Vienna to London over six weeks across several borders. I was checked only before leaving Lille and entering the UK on the Eurostar. And that was before Brexit, and so it was more laid back than immigration upon entering the EU. Your usage here is not the legal one, but more philosophical, asking if someone really has the resources or ability to move between member states. That's different than what "freedom of movement" typical means in the context of the EU (or the US constitutional guarantee). But then, I am a political scientist, not an economist.
You are not wrong. The video does not really discuss the impact of remittances from workers working in other EU countries when discussing brain drain either which are impactful for developing countries within the union and one of the reasons why countries like Poland have been able to see such a meteoric rise in their GDP.
@@Teutathis That's also a good point, which is odd, given that EE has discussed remittances in previous videos at length.
Economists and business leaders are voicing concerns at the start of 2023 that the year could be a difficult one. JPMorgan Chase & Co. Chief Executive Jamie Dimon said that the Federal Reserve may need to raise interest rates to 6% to fight inflation, higher than the peak level between 5% and 5.5% in 2023 that most Fed officials penciled in after their December meeting. Although I read an article of people that grossed profits up to $500k during this crash, what are the best stocks to buy/short now or put on a watchlist.
Very correct; the bear market has contributed significantly to the growth of my investment. I was able to quickly increase my portfolio from $180K to $272K. Essentially, I was just doing as my financial advisor instructed. You're good to go as long as you get competent assistance.
@@lowcostfresh2266 Would it be okay if I asked you to recommend this specific advisor or company that you used their services? Seems you've figured it all out.
@@TomD226I won't pretend to know everything, though. Her name is Laurel Dell Sroufe but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
@@TomD226 Found her, I wrote her an email and scheduled a call, hopefully she responds, I plan to start 2023 on a woodnote financially.
@@lowcostfresh2266 Laurel appears to possess a strong grasp of her field. Upon perusing her online page, I reviewed her credentials, educational history, and qualifications, which were all quite impressive. As a fiduciary who prioritizes my best interests, I proceeded to schedule a meeting with her.
Ofc UK is not in EU anymore, should not be in blue colour as if it is
Sunak say otherwise with his northern Ireland stuff.......
@@lawinheritor5122 NI being the bridge between the EU and the domestic UK market does NOT mean the UK is in the EU. are you ret^rded?
This should be pinned
I saw that early on as well hahaha
@@lawinheritor5122 as soon as I saw this i knew this video was going to be garbage. got to 1:00, looked in comments for this comment, left.
You guys could have shown a map of New Zealand, it would have been just as accurate as the EU map you used.
Agreed, if they got that wrong, they must have got a lot else wrong too.
But they know where Europe is. It's already a huge achievement for Americans....
@@klausschumacher7126 He is not American, he is Australian.
@@klausschumacher7126you failed as an intellectual
@@lindsaysmith8119it’s probably just another fool eager to jump on the “let’s hate on America” train, except here he only reveals how completely stupid he is.
The problem with EU economy is having 1 central monetary but various fiscal policies (depending each country)
that's why having 1 single currency was a mistake.
@@akhsdenlew1861 The EU is the new incarnation of the Soviet system. Zelensky is an actor and he is playing the role given to him to start World War III. Everything he does is to expand the war and to suck in NATO, the US & EU to create this war. He is succeeding. I can object all I want, seems we are looking at World War III between 2025 and 2027. So batten down the hatches.
BUT the EU needs war as an excuse as they can't possibly pay all the debts (pensions etc) without hyper inflation. Provoking 'Putin's invasion' provides the perfect excuse for reset / debt cancellation with UBIs and programmable CBDCs for the new socialist paradise
@@akhsdenlew1861 what is the single currency, Svensk Krona???
@@akhsdenlew1861i Hope everyone get its previous currecy
@@Arltratlo The reference was made in the context of SEPA payments, you fool. In the SEPA payment system, all transactions are conducted in Euros. When you send money via SEPA to an IBAN within the EU, the system automatically facilitates the exchange. It prompts you to specify the amount in Euros, and the system then converts it into the respective currency, such as NOK, DKK, Zloty, or any other currency included in the SEPA system.
I for one welcome the existance of the new European superpower: Bulgaromania 💪💪💪 🇧🇬🇧🇬🇧🇬 🇷🇴🇷🇴🇷🇴
And a Romanian watching your channel my question is why?
@@in5minutes556 because the map in this video is hilariously wrong and among other things this dude merged together Romania and Bulgaria on the map for some reason
@@talete7712 If the map is wrong how can I believe the content is correct ?😂
Superpower?😂😂😂😂😂😂
more like a regional power
Whenever I watch one of your video and you inevitably talk about 20% inflation being "very high", I dream of having that rate of inflation. I'm argentinian if you can't tell.
Same in Iran
Ouch.
You should move to Spain someday if possible. I lived in Spain for one year and have friends from Argentina, Uruguay, Peru, Venezuela,etc there. When Argentina won the World Cup, we celebrated a lot.
I had previously watched a video about argentina so I guessed it right when I read that inflation is more than 20 % xd Hope things get better.
150% inflation from Turkey👍
Poland's GDP per capita (in purchasing parity standard) 2004 - 51% in relation to the EU average, 2022 - 79% EU average. Poland's unemployment rate 2004 - 20,6%, 2022 - 5,2%. (in 2004 Poland joined EU).
Because the EU is expanding to the east 😅 The low gdps in the east are lowering the EU average, so in relation other gdps increase. Easy maths
@@KupoxChan 2004 - Poland's GDP - 255 billions USD, 2023 - Poland's GDP - 842 billions USD.
@@KupoxChan I don't know where are you from but I assume you are from so so-called Western EU country, I think if everyone gives Poland and Baltics, let's say 50 years of peace, it will be the Western EU countries that need to keep up to not lower the average EU GDP.
@@quadro1337 So in other words you think eastern GDPs will eventually be higher than western GDPs. How did you come to that conclusion? Belief is not a good argument
I love the idea that countries would have plans for how to handle leaving the EU "just in case"... considering that the UK still doesn't seem to have a plan 7 years AFTER voting to leave
Leaving the EU is not a option , because you will always be moving to worst in economy, socialy and political.
The UK is out, with most issues having been resolved.
@@well-blazeredman6187 The UK is out, with most issues having been resolved, What resolved?? Are you from Mars? Name one issue that has been solved.
Uk has a plan if you actually pay attention
@@well-blazeredman6187 Wow Its all been solved now? 😂
"People tend to see problems, more then they see benefits."
Never has a truer line been spoken in your videos EE.
being able to see the problem's the great gift anyone can get which they can work around it so, I would say its the opposite. Ppl tend to not see the problems or blind by the short term benefit/ can only see its so far, reason why success are always far too few or just rare thus the issue around the world some bigger then others..
Than*
That's not even remotely a true line within this context. Overwhelmingly, people in the EU have a favorable opinion of the union. So either people in general are happy to have problems (which I would call dubious at best), or you are wrong. It is true for the UK, but given they are the only country to leave so far, they are clearly a small exception to that rule.
Maybe so but we found also stand on principle & the loss of freedom & national sovereignty cannot be something which is ignored.
How did the EU get the authority to impose block wide chat control? To violate the free speech protections & privacy of every member state & their citizens?
The EU has too much control, countries shouldn't leave, rather they sound just start ignoring regulations they don't agree with & not allowing certain EU officially to operate in their countries.
Consider it the quiet quitting of countries.
@@WitchMedusa кстати это удобно, находиться в союзе, но игнорировать его правила, Германия и Франция оплатят этот счёт))
For being unable to predict the future economists sure seem to enjoy doing it a lot.
They try to guide others to a treasure they can't posses.
They can't admit that otherwise they wouldn't have a job.
like when EE, a few years ago, predicted flight prices to increase five to tenfold right after the pandemic...
Try imagine a world without economists. In that world, something similar will arise.
Never underestimate the poet's importance, yet never undermine the warrior's sacrifice. I don't remember the actual quote, kinda paraphrasing a little.
Well they get it right sometimes
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $120,000 bond/stock portfolio.
True, the US-Stock Market had been on it's longest bull-run in history, so the mass hysteria and panic is relatable, considering were not accustomed to such troubled markets, but as you mentioned there are avenues lurking around if you know where to look, l've netted over $650k in the past 8 months and it wasn't some rocket-science strat. I applied , I just knew I needed a firm and reliable technique to navigate better in these times, so I hired a portfoilo advisor.
@@MrGravity304 please how can i find the lady you mentioned'?
@@MrGravity304 Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
1
@@MrGravity304what kind of % gains can you earn?
EE is one of those content creators that sound very convicing on every topic you have low experience in.
And then he does a video on something you have a good idea about and you tear your hair out watching his smug ignorance.
Frame 5:45 - "It's important to remember that the EU is made up of democracies and governments will make decisions to stay or leave based on the will of their people even if those decisions are not entirely the best macroeconomic move." A more gentle way of describing the Brexit decision could not have been done.
I heard that and was like "Shots fired"
At 8:59 he takes another shot at the pound
Anyone who makes such decisions based on economics alone is an imbecile. GDP is a tiny part of what makes a people happy and content.
@@prateekbhurkay9376 A very silly one too. Of course Stirling is still well respected that's why it's still one of the most widely held currencies; they even show this near the start of the video.
Bashing the UK since Brexit is just another trendy way of virtue signalling.
The sad thing is that if you look at most polls on whether the UK should rejoin the EU (there's a list on wikipedia) most of them indicate that the majority are in favour of rejoining by far. However, I imagine it will be a few years before any party champions that in their manifesto.
As someone who works in one country and lives in another in Europe I object to the working from home thing. It's actually still pretty complicated, because usually you pay social security taxes in the country you are working in. If you are working from home at some point (usually 25% on your working time) the country you live (and work from home) in wants to collect social security taxes, too. More or less the same goes for income tax, as you pay income tax in the country you work in for the most part. That would imply that you cannot be employed by a company in a different country unless that company has a site or needs to found one in your country; OR you have to found a company yourself and be self-employed and sell your services... and then again there go your financial benefits usually, as people with that work model do so because you earn more in the other country.
Companies don't want to hassle with it, so working from home as a "border crosser" is either severely limited or forbidden by your employer all together.
This is why EOR (Employer of Record) companies are a thing. I'm in a similar situation and getting through the bureaucracy part was actually quite easy.
@@georgecozma8376 it works like that, yes... If the company intentionally employs someone like that. But if you are directly employed by the company and live in the border region and are expected to be partially in office and partially work from home it gets wild.
Also the above is not all. If you generate revenue for the company (e.g. work in sales or work in customer contracts) the country you live in wants revenue tax from your employer, too.
Surely you can only be taxed by one country. It would have to be the one where your employer was located, unless you were a self-employed contractor. That is where you are being paid after all, not in your country of residence. Alternatively it could be income tax in your residence, but payroll and other company taxes in the country where the work is based. They can't double-tax surely?
@@georgecozma8376 EORs take a not-insignficant cut of your salary tho. Which is fair, since they take on the pain you would have experienced, but still not ideal.
Let me guess, either a Dutchie or Flemish?
The EU has failed. Costing 2.47 Billion Euro in 2023, Its intrenched in bureaucracy with no key members doing well Germany Spain Italy France all of these economies are failing swamped in migrants from impoverished countries dropping GDPs and massive unemployment. Sorry it’s time to shut this down we were better off before the EU.
One aspect not touched upon which I believe is quite important to note, as a consequence if the EU would break up:
The Brussels Effect - or in other words the mass adoption of standardization in technology/documentation. (If a company wishes to do business in the EU it needs to comply to their standards. At that point, it's often easier to develop the same product worldwide, leading to the once EU-standard becoming the de-facto world standard.)
Exactly. EU standards are FAR more powerful, both inside and outside the EU itself, than people realise. Most standards organisations worldwide (including, incidentally, Chinese ones) base their own national standards on EU ones - only the US and Canada don't much and that is mainly because they need non-metric ones. It is only a small exaggeration to claim EU standards are the biggest single enabler of globalisation in the 21st century.
@@kenoliver8913 I've observed (as neither a European or American, but this in a country with it's own standards), that ISO standards are the most powerful and comprehensive, partiularly in engineering outside of my own countries standards. Aerospace standards are mostly American however. The reality i find is that EN, ISO, JIS, ANSI, AS/NZ etc are all very similar in scope and content.
@@fluoroantimonictippedcruis1537 And they're very similar because they look to EU ones. A way to reconcile your point about ISO is to note that the EU delegates have outsized weight within the ISO.
As a German article noted, the standards may be set by the EU, but the big bucks in the new digital economy are made outside of Europe (the US and China).
@@kenoliver8913the US Navy patrolling the worlds oceans is the only thing keeping globalization alive
Interesting to think about different member states benefitting differently from centralized decisions. I wonder if looking at these differences between US states would be worthwhile.
The results tend towards similarity unless great care is taken to *deliberately* keep the disparities to a minimum.
Great idea, Potential Video maybe? ... But I think it would have to be a series😅
Well the US dominates in every industry, and their companies lobby to ensure they aren't forgotten about.
For example the US doesn't regulate tech companies, which is good for silicon Valley. But it also subsidises agriculture which is good for the heartlands. It doesn't regulate financial institutions as much as the EU, which is good for New York, and it maintains a healthy defence budget which is great for defence engineering firms. Even the Automotive industry is getting a boost from increased legislation over new electric vehicles. While the oil and gas industry is getting a boost from lack of action in the same area.
The US being a federation from the outset is all about state rights, and also sees the US as integral, all of the US, and decisions are made with the whole US in mind.
The EU is Franco-German centric with little regard for the rest of the bloc. The answer to development from the EU is to spend cash on public sector infrastructure (transport, schools, hospitals etc) in less economically developed nations. Instead of deregulation to allow new entries from those less developed members to compete with established French and German firms. Especially in strategic industries.
How allowing millions of unskilled migrants was in the EU citizens interest? That was a terrible centralized decision among hundreda of others.
@@trolololololll amen.
Noticed that some Eastern European software developers are staying in their home countries but working for foreign firms. They don’t get the same money they would in US, UK or Germany however they get more money than working for a local firm. Seen it happen quite a bit in the lady 12 months on a project we have here in UK with South Eastern European software staff.
In UK? And what about taxes? UK is not EU anymore.
I'm from Bulgaria, my dad had mandatory conscription back in the day and described it as: "Everyone comes in differently smart and comes out equally stupid." This is what comes to mind when I think about ending freedom of movement.
Equal outcomes much like equity is communism
Why not Bitcoin. Read THE BITCOIN STANDARD. THE FIAT STANDARD
Preach.
Напускайки Евроейския Съюз ще е най-доброто нещо което би станало за България, нашата независимост и култура
@@kamenkalchev3477 Какво ново ще можем да направим извън съюза, което не можем отвътре?
Ah yes my favorite EU country, UK
He made the wrong map so dumba sses like you could comment on it and improve his YoutUbe algorithm
Mine is Kosovo
Mine is Catalonia.
meanwhile, as you were stating your favorite EU countries, cyprus has been re-united after almost 50 years!
Oh, I'm from the UK. I didn't realise we'd rejoined the EU. I must have not got out of bed when we had that vote happened.
Software Engineer from Romania here.
As a matter of fact I considered moving to Germany (not for the money, but rather for the Berlin lifestyle and for my friends and relatives) many times. However, my monthly salary will decrease with at least 1k euros (after tax), and my expenses will go up at least 2x in general and 4x in rent. I gave up on the idea as my quality of life will decrease too much. I'm also not comfortable being seen as the "poor guy from a s.... country who came here to make a living", even more so considering my situation.
Sincer, aia care zic ca esti poor guy care a venit in germania sa faci bani de obicei sunt din generatiile mai batrane. Generatiile noi nici nu se gandesc la asta si nici nu le pasa, fiecare este egal si nu conteaza de unde venim.
"The brain drain" is not the problem in the first place. The real problem is that many Europeans as in Bulgaria are born and live in places where there is a lot of corruption, crime and public mismanagement.
No, no, it's the Bulgarian's politician's fault, it's the EU's fault obviously /s.
@@Londronable nope, its a problem from old system like for all of us who was under that dehumanize commie rule. that kind of system offset as for at least 50 years or when the last of that generation retire or go to heaven. we will become better, LONG LIVE FREE EUROPE
Mhm, and what do you think the effects of Brain Drain are? Crime, Corruption and Public Mismanagement as all the helf-decent people left for Western Europe and only the Thieves, Cowards and Idiots remained
I don't think corruption was factored in either. In an ideal equation there is no corruption.
I m from Bulgaria. EU is best thing which is achieved in Europa!
It is only good, because we can immigrate to the West and let our countries die. Rest in peace Bulgaria, no one will miss that country when it collapses.
For the first time in millennia, European Countries are finding a way to work with each other and solve issues together, instead of fighting. Cooperation in different areas is not easy, we are still diverging too much on many issues but over time i am optimistic about our prospects. Even if the EU experiment fails, there are way too many good things that came out of it that i would frankly not be able to live without. And I am not alone; the 4 freedoms are just a god-sent revelation and will continue shaping the continent in a good direction, I am sure.
Yes. It will fail
@@suezcontours6653 Sure, sure
Down with the EU.
If only we hadn't opted for an American led world order, and rather opted for European world order together with ex-Soviet nations.
The EU is the international equivalent of herding cats. You can only succeed if you tie the cats to a rope and yank them to where you want them to go.
The way to do that is to de-democratise all the countries, form strong links between corporations and government and manage messaging (msm & soc m).
Ooh look everybody - fascism!!
You mentioned Luxembourg has 4x the GDP per capita as Bulgaria, But for example DC has 5x the gdp per capita as Mississippi.
Bulgaria with Romania only joined the EU in 2007, while Luxembourg itself has more than double the GDP per capita than Germany. If you were to compare Germany with Bulgaria and Romania it`d also be "only" a 2x difference.
As far as I know, when you take into account Purchasing power, Romania and Poland are really close to Spain and Portugal.
The United States isn’t the same as the eu. One is an actual country. The other is not. Theirs no mass migration from the mid west to dc but even than rural to urban drain still happens but it’ll never happen like the eu sees it.
Yes and the riches German cities Wolfsburg for example would not be to far off from Luxemburgish Levels. (specially if you put aside how much of that wealth comes from being a fiance place that is basically an inner EU tax haven.
Exactly. Also, GDP per capita will be higher in Bucharest than it is in the Romanian countryside. That's the whole point of the EU, to remove internal borders, so there is a free flow of people, capital, goods and services. This clearly benefits the people of Europe. If a Romanian moves to Luxembourg and earns more, doesn't that benefit a Romanian? Yes it does. What difference does it make where he lives. Anyone who wants the internal borders back, must also be in favour of adding lots of new borders inside each country, to separate the rich and poor regions.
looks powerful corruptions in the leader ship of Europe ?
Always informative, thank you.
Brexit has shown just how beneficial, effective and powerful The EU really is.
Best go check out EU debt one ,14 ? 17 ? Trillion debt in the EU, best stay out of that bill ,
Well,stay out of the EU so our children will not be taxed for the debt payments
@@robtaylor2549 How big is the UK debt or USA debt compared to GDP..? Debt isn't the problem, it's the ability to repay it that counts and The UK will struggle waaaaaay more than The EU.
EU is very strong in some states while not so strong in others. For example here in Sweden we don’t feel as connected to the continent as a small country in the middle of Europe. We also kept our currency not that it has done much good considering how much value it has lost to the Euro and Dollar recently which makes everything imported expensive. But I guess that is the “self correcting” free floating currency and what it is supposed to do.
Probably helps sales of the Gripen. :D
Then adopt the Euro.
EU is doing good and will do much better.
In spite of the huge efforts to make war on it as many big world powers are doing the last 23 years , if people have seen the motivations behind many events.
@@MusicIsLegal They are required to do that aswell. What they have been doing is miss on purpose the requirements to adopt euro which is kinda dubious.
@@gre894 Yeah its so annoying that some countries use some ways to prevent EU from growing and becoming stronger while in the end it just makes everyone richer.
It‘s incorrect that the EU was created after the collapse of the soviet union. Predecessors of the EU have been in existence since 1958. While the EU per se was created in 1993, it is more correct to treat it as a direct successor to the European Communities that were created beginning in 1958. Otherwise the development of the EU gets reduced to the last three decades. Historically however, the EU dates back to the mentioned year of 1958.
yeah, exactly. He showed that he fundamentally misunderstood the history of European integration when he said stuff like "dozens of European communities have come and gone in just the past century" as if those communities just collapsed one after the other when in fact they all evolved into the EU by gradually integrating more and more
Hitler dreamed of EU.
The European integration was born in the ashes of the WWII and the post imperial Europe as a mean of reconciliation between historical enemies. Every analisis that misses that point is going to fail, as it ignores the fundamental reason of Europe to keep going, like all the gloom and doom during the Euro crisis.
It ignores the desire of the european goverments to do "whatever it takes" to preserve the Union.
@@juancarlosgasconpinedo8667 Exactly. The European Communities didn’t just seize to exist at some point as some authors try to portray the union. As @Talete mentioned, every analysis that misses this crucial part of the EU is going to come to wrong conclusions.
@@juancarlosgasconpinedo8667 EU is the new version of the USSR.. Zelensky is an actor and he is playing the role given to him to start World War III. Everything he does is to expand the war and to suck in NATO, the US & EU to create this war. He is succeeding. I can object all I want, seems we are looking at World War III between 2025 and 2027. So batten down the hatches.
BUT the EU needs war as an excuse as they can't possibly pay all the debts (pensions etc) without hyper inflation. Provoking 'Putin's invasion' provides the perfect excuse for reset / debt cancellation with UBIs and programmable CBDCs for the new socialist paradise
How can I trust a video which shows the UK as part of the EU?
I believe what you refer as region outside of Europe that also use euro are French, Spinard, and Dutch oversea territory and countries that are not in the EU are the candidate state which are waiting for the accession negoitiation
Every country can choose the euro if they wish to just like many countries use US dollars.
@@yellow01umrella no, actually. The ECB is really against that. They also don't really like Montenegro and Kosovo using the Euro, but they can't really counter the argument 'what's the point in making our own currency if we end up joining and having to take the Euro anyway?'.
And in general about the euro being used outside of Europe: it entirely depends on how countries define their territories. For example Reunion, which is close to Madagascar, is considered to be part of France and therefore uses the euro. The Dutch Caribbean however, are treated as different entities (three of them are actually countries) within the Kingdom of the Netherlands. They use either guilders or dollars, nor are they formally considered Europeans and therefore lack the rights within the EU that Dutch (mainland) people have.
Aruba doesn't use euro's
@@zaros1781
More precisely, as per the Treaty of Lisbon, EU’s special territories are divided into 3 categories:
1) 9 OMR’s (Outermost Regions) that are fully part of the union.
2) 13 OCT’s (Overseas Countries and Territories) that do not form part of the EU but are tied to it through other means.
3) 10 Special Cases that, apart from Faroe Islands, belong to the EU.
Being from Romania, this hits right at home. The brain drain is real and a REAL problem.
I've not seen this as an EU problem. Brain drain would remain a problem outside the EU also as if you're a licensed professional most decent countries will have you. A lack of freedom of movement wouldn't stop people since they're already overcoming high barriers. You'd need to raise internal borders to leaving the country like Cuba does, I don't think that's a successful strategy.
I am from Asia and this is the same too.
But there might be people coming to EU to escape the west.
@@0xCAFEF00D doctors from India have been kicked out of the US. Immigration is a big hurdle
There has been an extreme brain drain out of Serbia and Moldova, and from Russia and Ukraine as well even before the war started
@@Lybrel because they are not up to scratch.
If a GDP/captia ratio of 1:5 between the poorest and the richest region is problematic when sharing a common currency, this will apply not only to the EU but also to the US (where the ratio of state GDP/capita is likewise 1:5, or much higher if you include territories like Puerto Rico or Samoa in the comparison).
Also Luxembourg GDP/Capita is slightly inflated.
lol what an ignorant take. Every study ever done on the Euro currency union has assessed that same comparison and EVERY SINGLE ONE OF THEM HAS DEBUNKED THAT NOTION COMPLETELY. The US, despite its union of 50 states, has common institutions, laws, regulations, taxes, social benefits payments, and yes even culture (everyone identifies as an American first - how many in Europe define their identifies first as Europeans and second by their nationality?). The comparison is specious and utterly without merit. “Europe” doesn’t even have a standing army of it’s own, while when the U.S. goes to war, there’s no such thing as only some of the states in the U.S. going to war while others do not.
@@mensrea1251 Even if you're right, why so condescending? You can also make your point without having to call someone ignorant or completely dismiss their opinion, is it so hard to write a civilized response?
States are pretty equated
I live in Sweden and I'm gonna get an Interrail Pass this summer to travel by train across a bunch of EU countries. I'm gonna backpack and just go to places spontaneously. One reason why the EU is awesome is cuz it makes stuff like this possible.
This Brit can still do that. The only 'drama' is a stamp in my passport.
@@well-blazeredman6187Only for 90-180 days and you have to wait in lines. Europeans don't 😂
@@NoName-hg6cc I had to queue in lines even before we left the EU. And I don't think that many Brits spend half their time in the EU. 😀
@@well-blazeredman6187 No you didn't , because there are no barriers for Europeans, only Johnny Foreigners 😂
You cannot spend time in the EU without permission 🤣
@No Name I don't know what points you re trying yo make here. Do you?
projecting doomsdays definitely brings viewers, but does it reflect the reality?
It doesn't
No it doesn't . This video is clickbaiting garbage . This guy was ok before. Now... anyway i'm umsuscribing anyway
If you watched the video you'd see he's absolutely not "projecting doomsdays".
Eu is still strong , my major concern is the influence the USA have over EU.
The brexit thing was achieved by politicians lying to the voters, If wasn’t for that the referendum will be a different outcome.
People who project EU doomsday tend to think EU is only possible with economic prosperity , and if a economic collapse happends EU will end , wich obviously makes no sense .
"The British pound.... not that that example is particularly relevant any more"... who are you kidding?! 😂
I'm moderately Eurosceptic, but even I think the chances of the EU actually collapsing are slim to remote. The EU and its member states have considerable latitude to adopt fiscal and some monetary policy to fend off that outcome by increasing political integration (which is generally accepted as a desirable outcome, at least in general terms) and become much more of a transfer union than it already is. It wouldn't be popular, but it is doable. In principle. If the alternative is collapse.
If there are threats to the integrity of the Union, they likely lie in member states simply ignoring the rules if things get bad enough, and there isn't all that much that the European Commission can do about it. It has Article 7 sanctions which ultimately result in losing voting rights. But so far as I know, there is no current mechanism by which a member state can actually be expelled, nor can it be deprived of the benefits of being within the customs union or single market.
I certainly don't see any more states leaving the EU any time soon. Apart from the disincentive provided by the case of the UK, there are very few EU MSs that might be inclined to want to leave and which also are not in the €Z. Leaving the €Z would be very difficult, and states that are landlocked by EU MSs have limited surface freight options that don't involve transit through the EU and thus be subject to the Common External Tariff.
All of these things are possible, just not very likely.
As an outsider, it seems utterly crazy to think about breaking up the EU. Just taking the long view of history and seeing it as a war prevention device, it is remarkable. I reckon that if collapse were to be on the horizon, support would jump up as people really think through what the end of the EU would mean. And if it did happen, it'd probably end up as something lionised and mythologised, with movements to resurrect. I think the EU has managed to so quickly cement itself in people's minds, as though it's always been there, because the dream of the EU is so powerful and it seems like the sort of thing that can't really be undone, a paradigm shift in european self-imagining.
I would add to the sanctions that it now can stop certain fund to be delivered to member states. Furthermore the most commonly used sanctions is a law suit if a member state breaks or doesn't apply European laws. Here Germany is the country with the most law suits currently facing
I cannot see the EU to collapse because of the arguments stated by you. But on the same side its also highly unlikely in my opinion that the EU will integrate much more. Maybe in terms of military or some others subjects. But generally speaking there will be no further political integration because there is no incentive for the member states.
@@BomKaBom No incentive, as yet. »L'Europe se fera dans les crises, et elle sera la somme des solutions apportées à ces crises.« (Europe was forged in crisis, and shall become the sum of the solutions brought to those crises. Monet, 1976).
It seems unlikely all things being equal, but in the event that there is another, really serious €Z crisis, especially one comparable with the 2011 sovereign bond crisis, or intra €Z tensions become unmanageable without a transfer union, I suspect that MSs would rather knuckle into it than allow the Union to collapse.
@@BomKaBom I don't even want more EU integration. More cooperation, absolutely, but within the current framework. This is not as efficient as if the EU were a simple country, or a federation, but I think it is essential the EU members stay separate countries, who can leave the union if it doesn't fulfill its needs anymore. Membership of the EU should always remain voluntary.
We will see how much of this will remains true when USA will become more isolationist and not gifting them an army
0:02 - Kosovo and Montenegro in EU? - good to know xD
probably because they use euro but uk?!
@@wrog268 country can use euro, but is still not a member of the union
@@wrog268 Probably an outdated map, maybe it was made a long time ago?
Maybe they need to have a politics explained channel to fix their understanding?
@@KobrokoHere yes, for the uk. But in the Balcans it's just wrong. God knows what kind of map that is :))
It might sound as an anecdote but for EU to collapse will require a lot of bureaucracy, so it won't collapse that easily.
The inflation table should have shown either only Eurozone countries, or in a different color to see clearly the effect of euro membership.
I would not take to much notice of inflation graphs. Inflation is based on models. You can pick and choose which model to use. Cost of second homes abroad fallen by 50% brings down inflation figures but only has an affect for one or two people. Any excuse. Look at UK figures 10.4 % that's a joke .friends in Germany tell me the same.
Last I checked, the UK isn't in the EU.
He made the wrong map so dumba sses like you could comment on it and improve his YoutUbe algorithm
The Eu is already a failure with 95 million citizens living in poverty , yet still allowing unauthorised migrants in , when the majority are economic migrants . The Eu constitution id flawed and needs total reform , without which many countries will leave. .
The EU will last only as long as the people and states within it are willing to pay some costs to remain with it. The threat of Russia and China will drastically increase that willingness, so I would expect the EU to hang together as long as Russia and China remain a threat.
with the Scots join the EU and NI the RoI i see only people who will defend their freedoms....
unlike England, their government is already an Russian asset, cant work properly without Russian money!
we need to have an eye on not trustworthy countries, like Hungary, Serbia and the UK!
Treating Russia and China as a threat will be the EU's downfall. It will just weaken the EU as time goes on. They will still be stuck in that cold war mentality, as the rest of the world moves on.
Russia is never been a threat for the european countries
@@robertocalibancove8245 it was always. Learn the history.
confidence in the EU has been steadily rising since brexit, even among typically euro-skeptic populations. And the war in Ukraine proved to everyone that the EU can work together in concensus to respond to crisis. Covid also showed that the EU can work together, even if that was a little messy.
Conclusion: The EU isn't going anywhere anytime soon. And it's unlikely that any country will decide to leave in the coming decades. I actually think it's more likely that the EU will be the second world power by the end of the century, but that's just me.
Hilarious for the first part.. We must live worlds apart.. no offense
Eu going nowhere as usual, i agree, irreformable supranational technocracy.
@@W.Binderei "Eurobarometer: Optimism about the future of the EU at its highest since 2009" (end of 2021)
not sure in what world you live but the EU handled Covid better than any other major region
we had less deaths than the US or Brazil, high availability of vaccines and nowhere near as restrictive policies as places like China
Ukraine is probably the worst example of the EU working. It's like we didn't learn from the world wars.
Similarly covid was a big reason which reignited the anti-EU protests.
@@benzo___ The places with the lowest Covid deaths were places that did not impose any covid regulations. This is largely because doing things like staying at home actually increases the propensity of infection, which is why people get sick in the winter, not because of the temperature. And covid deaths accelerated after the vaccine, there were less deaths than before it. China brought vaccines out long before America or the EU started issuing them, and the Chinese vaccines also had issues with mortality. In America for example, nearly all the covid deaths were in states that imposed the highest regulations, and most of those deaths we now know were less about covid and more about the quarantine regulations interrupting hospital treatment. In states like California and New York, there was even malicious intervention by the state with things like bringing in uninfected elderly patients into spaces where sick people were, or reporting people who died from blunt trauma like car crashes as covid patients in order to boost the numbers.
EU is doing very well and most European people are happy and was a fantastic idea in the first place I think EU is going to be more united than anymore before.
The European Commission needs to be dissolved, all laws and powers should rest with the elected MEPs
@@infjintegrityvsnarcissism7295yeah, the EP should be the decision-maker
Most european people are very happy with the economic advantages of the union, but the people don't want a closer political union. heck the vast majority of europeans don't even know how the eu works politically. But people more or less accpeted centralisation cause they were told it was just for economic reason. Nobody actually wants a united states of europe, nobody in europe actually identifies as european above their real natonality, but sadly europe has been going in that direction for more then 20 years
@norberthiz9318 speak for yourself, even my parents, who are over 50, are pro federation, and I know a lot of people that would like that too, and I identify myself as European first and Romanian second
@@cosminivan9927 i don't care what you are or not. The absolite majority of europeans don't agree with you. I also literally never met anyone (who isn't a politican) who identifies as europan first. But that don't matter. There are people all around europe who stil want communism or nazism. That also doesn't matter because they are a tiny minority, like you and your parrents
Another benefit of the EU that was not mentioned is possibly the most important of all: peace! European states have historically been at each other's throats since the fall of the Roman empire. Now that we have economic interdependence, it's hard to even consider the possibility of a war ever breaking out between two EU member states.
Correlation is not causation. It was NATO and the Warsaw Pact respectively who assured peace until 1991, and NATO who have done so post 1991.
True! The European Coal and Steel Community, which is sort of pre-EU, was created to control the production of coal and steel and promote its members cooperation, thus prevent another military conflict. This was a lesson from the failed system after WW1.
The Greek civil war ended in 1948. Through the 1990's war broke out in the former Yugoslavia and lasted until the early 2000's. War broke out in Moldova in 1992, but was a short war. Russia invaded Ukraine in 2014 and the war has been on going every since! So NO the eu didn't stop wars in Europe!!!
@@TheWedabestthat is not the point.
the eu prevents member countries from fighting each other, not European countries in general ffs.
@@Jiyu567 they shouldn't call themselves "european" but only represent some european countries!
It would be interesting to see comparison of similar economies who did and didn't adopt euro. For example Slovenia and Czechia. They are generally similar but Slovenia adopted Euro
I feel like the effects of home-offices are exaggerated beyond limits in many videos these days. The service sector to an extent can get away without an actual presence but you can't work from home if you are a construction worker, plumber, truck driver, doctor or even an architect. All these professions are still crucial for the economy. "Video editing" and coding will still be a minor part of everything for some time.
You should leave a buffer at the end of the video so that the youtube video links overlays don't obstruct your charts.
I would like to see you rank the economies of individual USA States.
I'll save you some time. 1. Cali 2. Close second Texas 3. New York ..... Everyone else.
@Notmy Realname it's the analysis that interests me. As this video shows, having one's own currency has its advantages. The same is true of a shared currency, but there are also drawbacks. Some seemingly permanently depressed States like those of the deep south benefit tremendously from the integration with the rest of the nation, but to what extent might their story mirror that of Greece and other smaller economies in the EU that while enjoying the economic benefits of the union are also hampered at times by the disproportionate effects of a shared currency. Is California, Texas, and New York the USA equivalent of Germany, France, and- until a few years ago- the UK? The unions have many similarities but also striking differences. To what extent does that change the way we would rank the individual economies of the States? We have many of the member states of the EU on the leaderboard and now the EU itself. It only seems fair to now do the same with the USA but in reverse.
they've done it already! there are videos on CA and TX, not sure about the other states
The financial crisis that affected Greece above all did not bring the Euro down. Greece mismanaged its public finances after its joining the Euro allowed it to borrow more cheaply and it over borrowed. The crisis exposed a design flaw which has not been fully addressed but the Euro continues.
Always a treat to follow your explanations
Tbh after we saw what happened to UK after leaving the EU. It sounds like a dumb idea to leave EU and it was a dumb idea even before brexit.
Nothing beats the videos of poor English guys realizing what they've done to themselves. So, we now need to file how many papers to ship our product to France?. Guys, why can't we find anybody to do the work all those easterners were doing? ... and so on.
☠☠☠☠☠
Talking 15 Minutes about the EU and missing the most important reason for the EU: peace in Europe.
Maybe a video about the possible European Federation?
Yes! That would be cool
Or about the Russian Federation🇷🇺
hopefully that will never happen.
if it does, i will personally try to lead a rebellion in my country against it and probably die a horrible death for it.
So let's hope it won't.
@@akhsdenlew1861 it's fine. You're a sacrifice we're willing to make for the greater good!
@@RafaelW8 oh you know the greater good? and specifically my country's greater good? unlikely.
Being friends with each other and having a solid ALLIANCE is one thing that everyone will agree.
But becoming ONE is something that very few will agree.
Many of those other countries you indicated in map are overseas territories of eu nations.
But their economic situation affects EU that is why ...
Live in the Uk (Scottish) worst mistake the UK leaving the EU standard of living has fell off a cliff. The grass isn't always greener on the other side.
History has ALWAYS shown that bigger unions are better than being on your own.
Families became tribes.
Tribes became villages
Villages became feudal fiefdoms.
Counties became kingdoms
Kingdoms became nations
Nations became federations
As the brits so well said: "better together"
History has shown that Empires are the norm. Unfortunately, all Empires throughout history have had a dominant group in charge. Even with the EU, I don't see this changing.
@@cobbler9113 and south europe will get sadly the shortest end of stick
PIGS but alas also the balkans would get even worse @@a.m.4148
Next video: rank the upcoming BRICS alliance and their possible commodity-backed currency.
Brics is a bad joke tbh
Brics are just a grupe of developing countries who meet from time to time , just like the G7 .
@@marcioborgesreis9066 exactly, that's the only thing they have in common, strategically
dud, i could've closed my eyes when coloring this EU map and it would be more accurate
I do think that after Brexit the EU has become more stable than ever so can’t see people leaving anytime soon. Not many, if any, had a majority that wanted to leave the EU before Brexit, now after Brexit I don’t think any country has a majority that wants to leave. Especially since after the UK left, the EU has been working much better and more efficiently making most of us decently happy with it
its natural the eu had to sort things out and make it work after brexit, their problems could no longer be solved by the uk dumping money into it and then taking a bigger portion out later on further compounding the problem they just "fixed".
@@theworldofpanda6559 Do you STILL believe those brexit lies? You must be reeeaaally stupid then. As the UK is now apparently not dumping money in the EU anymore (and apparently you were propping up 450 million people?), it must now be really clear how those vast ammounts of money are now benefiting the UK people? No? Are you not seeing that? You are not having strikes and empty shelves? You are still not smart enough to understand that the 350 million on the side of a bus was a lie? You probably also think that the EU is undemocratic and corrupt, but fail to see how the situation in the UK is 10 times worse. Corruption is even baked into the system. In the UK, they call it party "donations".
"This is the European Union"
UK: *awkwardly highlighted*
He made the wrong map so dumba sses like you could comment on it and improve his YoutUbe algorithm
I'll never forget the joy i felt the day montenegro and kosovo joined EU
I don't think inflation is the same among the regions inside a country, or between the states of the USA. So why is it a specific problem for the EU?
Best Sunday when EE uploads
Appreciating your valuable content.! Bravo.!
So UK was pretty stupid to leave the EU then
Yes. It's what happens when Populism meets Russian propaganda and the general populace lacks basic political & economical understanding.
Economically yes...
"No one can predict the future, least of all economists." It's a classic man, don't change it 🤣
This type of videos provide the same amount of information as mainstream medias, too simplistic, lacking total deep economical knowledge... I guess it is good enough for students to pass an exam....
The US dollar power is insane in Mexico. I remember buying goods while outside tourist areas and paying $5 for ibuprofen, dramamine, water, and a snickers bar. Can’t do that in the US
In Mexico🇲🇽is more cheaper ??? Why ???😲😲😲
That has to do with US FUBARed medical system rather then USD per se.
Try buying anything imported (which is quite a few things) and see that price typically = US prices (in USD converted to local currency) + taxes + currency exchange fee.
Electronics are a good example of what I am talking about
Or fuel (doesn't apply to petrostates)
In usa the shopkeeper is both the robber and the seller since all it has to do is ship it all from mexico.
There's a small chance of getting kidnapped but don't let that ruin a bargain.
@@robertagren9360but they also not a millionaire. So you can’t really calling them robbers, you can do the same if you want and make the same money if it was that easy. US is just expensive country to live in with high income and low unemployment compared to the rest of the world.
Ok, but pretty much all other territories using the euro that you shown as not member of the European Union are overseas territories of Europeans countries, hence part of the EU, having the euro as their currency same as their mainland counterparts. They are not Europeans geographically but they also vote for Europeans elections as citizen of Europeans countries and are part of EU initiatives and have EU passports and privileges. Unlike the UK. You will see the EU flag on those islands and EU financed infrastructure too.
Right? I can only speak for Portugal, but our autonomous regions are still part of our country
As accurate as saying “NATO is so awesome, countries outside the North Atlantic zone decided to join it’s membership too” and then the map shows Alaska. It’s just part of the USA + Alaska didn’t decide, just tagging along.
As Europeans we can go to those places without passports for the majority of them and work even if they are in the pacific.
Didn't you all witness the collapse of the Bronze Age, right? Now we're going to witness the collapse of the EU union because of the Sea Peoples. 😂😂
That you rank the EU behind China really says a lot about the reliability of this rank of yours...
Yes and no. It depends on what you are measuring. China apparently has more xyz than Europe, but it's not clear what xyz actually is.
Or to put it in a different way: the US sits on top of the ranking, but the US treats its people worse than just about any other country. There are plenty of videos explaining how and why.
In 2021, the Portuguese health minister threatened to create a "conscription" of doctors trained in Portugal, forcing them to serve on the "SNS", (which is the Portuguese version of the British NHS) for a certain number of years. This is because work in the public system was becoming so degrading that most doctors trained in public higher education in Portugal, which cost thousands to the Portuguese state, were emigrating or working for the private sector and this is a big problem for the service. Of course, it is necessary to reinforce that the minister is a socialist, so it is obvious that the solution to the problem is to prohibit someone from doing something instead of treating the cause, but it is to demonstrate how European governments, mainly those in the south, are increasingly unhappy with certain "perks" provided by the EU. I believe that the EU will end one day, but not because I disagree with the project, on the contrary. But I believe that the national governments that have been and continue to neglect the national economy and mistreat the state, leading to the point where they blame the EU or the competition for productivity that the common market places its members in is starting to become unpopular. .
Something like this wouldn't collapse the EU though. It would shrink it with the dead weight leaving the union.
Leaving the EU wouldn't fix any of those problems. People would still leave, they just won't come back.
You admit yourself that in this particular example, the cause is NOT the EU, but how this is managed in Portugal. If people want to leave because the situation is bad (and is better somewhere else), then the solution should not be to block people from leaving. Blaming the EU (by politicians) is easy, but it is also easily countered. Thanks to brexit, we now have an example of what happens when you leave the EU. Just ask the Brits how their supermarket shelves are (answer: quite empty). Politicians like to blame the EU for everything but in most cases, putting the borders back wouldn't fix anything.
We need the European federation ASAP
No, it will not.
The EU relies on immigration from the third world to function. It has already failed
@@Gary-bz1rf stop looking at Peter Zeihan's videos. His takes are trash.
@@Gary-bz1rf its a union wide problem, that is mainly beeing solves by immigration. But the most likely result is a reduction of pensions and live will just go on
French Guiana is a department of French and therefore is part of the EU.
Con tutti i nostri difetti Meglio qui che dall'altra parte😎
I live in the UK and you know a recession is inevitable here because people are talking about it more than the media is. I know we're not officially in EU anymore (let's not talk about that).
The cost of living here is so high that very few people have expendable income for luxuries.
Know whats wierd? Here in canada talk of recession is pretty common too but our market for luxury goods seems like its expanding. Is my nation maybe where all the wealthy people from other nations are parking their toys and buying second homes? I live in rural Nova Scotia, and ive noticed quite a few europeans around. Almost all retirees too.
I don’t think a recession will happen, probably not a major growth as normal, but there’s to much rich people that want to spend money for a recession to happen but with major fear mongering perpetuate by the media we never know.
The media talks incessantly of crisis in the UK economy. But out there in the real world there are still loads of Range-Rovers, Teslas, Mercs, BMWs and other expensive cars on the roads, restaurants and bars are still busy, trains are still full to bursting with people travelling to London (and other cities and places) for sporting, musical and leisure events. Food prices in the UK are overall half as much as the USA.
@@gdok6088I know I hate the media as they make out that the country is on the verge of collapse either to sell headlines or because of some sort of agenda they have. Inflation is higher than we’d like it of course but it’s slowly coming down and wages are going up quicker than ever. Money is tighter but it’s far from a crisis.
You forget that currency shock would make countries poor. Great Britain never left the pound sterling justifying leaving the union. As result, Great Britain is floundering, and those who share a monetary policy must remain. Otherwise, their countries would break. Hello from Italy where the lack of growth makes Italian debt look worse than it is.
There are economic problems in the EU but to suggest it would fail as a polity while witnessing one of the most robust economic mobilizations the world has seen in the last decades as a result of Ukraine is too much
Don't be so scared and disastrous about the EU.
EU has been living war after war without interruption for twenty centuries. Nowadays, EU is living in a Paradise of their own making. Take note and reassess your evaluations - they are widely out of the mark.
The european union aka E.U. is an illegitimate political construct founded on November 1st 1993. Europe is a continent. You're so full of ..it, your eyes must be brown.
EU won't fail as long as Germany and France economy still strong
The European communities of the past decades haven't gone anywhere, they have merged into the current European Union, creating a decades-long continuity that spans most of our population's lifetimes.
Inflation in countries like Latvia is high due to most of income going to heating (utilities) thus exactly the items that got influenced the most from sanction arising from Ukraine-Russia war.
Cik redzēju kaut kādu rakstu, ka jau tiek iepirkta gāze priekš nākamās apkures sezonas pa daudz daudz lētākām cenām. Tā kā nākamgad situācija šajā ziņa būs daudz labāka.
"still lets their members keep their sovereignty"
Except their stated goal is a removal of that. All laws and taxes are to become "harmonised" and sooner or later everything will be controlled by the council.
"Countries can come and leave as they wish"
Except when Greece and Italy were threatening referendums and had their democratically elected leaders replaced by banking technocrats from Goldman Sachs. If they were given a vote they could be gone already, years before Brexit.
who again runs the UK, Russian money!
0:01 I'd have thought you'd have noticed that map is incorrect? The UK isn't part of the EU anymore, hasn't been for years now and that includes Northern Ireland.
I think the adverse effects of Brexit has taught a good lesson to everyone & the people from EU wouldn't try to split up anytime soon...
That's what happens when the EU punishes a country exercising it's right to leave.
@@rwentfordable the EU was extremely lenient on the UK despite the fact that it left. The fact that you british "people" keep whining that the EU treated you unfairly when we could have just imposed high tariffs and watched your economy sink is outrageous. As an EU citizen I'm actually disappointed that the EU decided to treat your little irrelevant island so kindly
@@rwentfordable The "punishments" you talk about, are actually direct consequences of brexit. They are what you voted for. You blamed the EU for everything that went wrong in the UK, and now you even blame us for brexit. I see that the situation in the UK is now MUCH better than what it was in 2015. You must be SO proud of your decision.
Every country is collapsing according to youtube.
The problem of economic prediction is that countries can make adjustments to avoid catastrophe to their economic growth..
Nice to see Uk back in, thanks for letting us know.
As Cosmo Kramer said, "They just write it off."
It's admirable that you question every economic state/system. And so it should be.
But I am still glad that I am living in the third economic power in the world, rather then the first two biggest powers.
There is a cost that I'd rather not pay. There are systems in work in our place that I look at bewilerderd. Never mind what happens in those two.
And I am worried about the countries that are trailing and want to join the top 3 and are trying to adapt their economy to a more economically anarchistic methode.
Business before everything. It's a bit depressing.
together we're more than the sum of our parts, long live EU 🇪🇺