In: Economics
Europe struggled with high levels of violence that raged for most of the first half of the twentieth century. In spite of that, Europe has achieved the most advanced level of integration of any regional grouping. Discuss the problems of regional integration agreements that potentially occur even when all sides want to reach agreement.
Answer:-
Even though Europe has achieved a level of regional integration, recent Brexit underlines the fact that there are undercurrents of discontent that might put such integration into jeopardy. The biggest problem of regional integration is that the participating countries, to an extent, loses control of its borders, as the influx of population to and fro the regions increases manifold and a growing fear of losing jobs becomes the new normal among native populations.
Increased immigration also poses a threat to the security of the country, while the borders open up there is a heightened chance that miscreants might use the route to gain easy access to an erstwhile impregnable landmass.
Lastly, when the economies are closely tied up, as with the Euro, so does the fortunes. The countries that were historically more stable would now be exposed to shocks that previously would have been sidetracked.