Issue #43
Last Update December 24, 2005
International Europe Leaves the Nest by Gerry Krownstein With its latest expansion, the European Union has become a major world power. Thanks to the blunders of Bush administration, that power is less friendly toward American interests and more inclined to go its own way economically, politically and militarily than at any time since World War II. More populous and with a larger Gross Domestic Product than the US, the EU now spreads from the Baltic on the North and the borders of Russia in the East to the Mediterranean in the South. Its currency, the Euro, is stronger than the dollar. Issued at par to the dollar a few years ago, it is now worth about $1.20. Previously our friend and ally, Europe is more and more assuming the stance of a rival and competitor.
Until recently, Europolitics was fragmented. Britain and Germany followed the American line in international affairs, while France was often an opposing voice. Spain, Italy, Ireland and the other small European countries followed their own individual paths. Lately, that has changed significantly. The UK is still mostly on the US side of international diplomatic issues (though not necessarily with us on economic issues), while Germany and most of the smaller European countries, appalled at our arrogance on a whole list of issues, especially but not limited to Iraq, have swung closer to the French view. It is no surprise that the “Coalition of the Willing” consists of the US, Britain and a few other countries with neither economic nor military heft, and not the broader coalition forged by the Clinton administration to deal with ex-Yugoslavia. The newly added nations are more friendly to the US than many of the old-line countries, having has less opportunity to be insulted by us, but they will slowly but surely move toward the dominant European stance. Even the foreign policy of the UK is likely to be aligned with ours only as long as Tony Blair stays in power; many of our (and Blair's) policies and actions are deeply unpopular with the British electorate.
On economic issues, such items as steel tariffs and agricultural subsidies have put Europe on a direct collision course with the US. Entangled as our economies are, Europe has held our feet to the fire on a few issues lately, and the Bush administration has been forced to back down. Until recently, the US had the edge on inventiveness and flexibility; this is changing, with European countries moving to the forefront of computer technology, pharmaceuticals, advertising, and several other cutting-edge economic areas. Scholars from South Asia and the Far East, who used to come to America to be educated and often stayed to enrich our economy and our culture, are now choosing Europe. The fragmented national economies of Europe have been melded into a single economy with no barriers to personnel movement or capital flow. Consolidation of trading and clearing infrastructure has made European stock, commodity and interest rate markets more competitive with American markets than in the past.
The West, as constituted during the Cold War, no longer exists. No longer sheltering under our nuclear umbrella, Europe feels threatened by our unilateralism, and by the fallout from our Middle East actions and policies, and is starting to recognize its economic strength. A new superpower is being born, and sees itself as a counterweight to the Imperial America preached by the Republican right.This independent stance was due to arrive eventually. The Bush presidency has hastened the process by a decade or more. This is probably a good thing, for all that it was unintended.
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
New York Stringer is published by NYStringer.com. For all communications, contact David Katz, Editor and Publisher, at david@nystringer.com
All content copyright 2005 by nystringer.com
Click on underlined bylines for the author’s home page.