Italy and the European Union

Created in the aftermath of the Second World War and with a view to bring prosperity among European countries, the European Union or the EU is today the force that has given its 27 member countries a stature of peace, prosperity and stability.

Italy was one of the founding members in the EU in 1951 along with other countries like Belgium, Germany, France, Luxemburg and the Netherlands. It started with these 6 countries and has today grown into a 27 member Union.

In its initial phase the EU was formed with a basic view to bring a sort of economic stability to European countries however what once started as a forum for economic growth has today sprouted into an organization that deals with issues like the environment, human rights and has one of the most ambitious projects that deal with the ways in which the climate change can be reduced. The EU has since its inception developed into a single market with a common currency the Euro and is noted to be the rival to the Dollar. It has fostered in the smooth and free flow of goods, services and other products from one member country to another with the utmost ease. Without a doubt post the Second World War the EU has brought about a significant level of profits and has changed the lives of the people and the member countries distinctively.

The countries in the EU have been admitted to the Union firstly as a means to strengthen the Euro and facilitate in the creation of a stronger economy in the region and secondly after such an economy has been created to help in sustaining it. Since 2008 with the economic slowdown that affected a large number of countries all across the globe there has been pressure on certain countries in the European Union to step down from their role in the EU due to economic reasons. Italy is one such country. Due to the massive economic crunch that along with affecting other countries like USA, Portugal, Greece and Spain etc has also affected Italy. Although many countries have wriggled their way out of the slowdown Italy is still struggling.

Mario Monti the current PM of Italy has been in a tough spot since his election to save the country from a financial ruin. Many economists claim that Italy has been trying to save itself from the its heavy debt crisis by changing its leaders and introducing new policies but they believe that no amount of change in leadership or policies can bring Italy out of the severe debt crisis. British Economist Hugo states that Italy is never going to come out of the debt crisis because it is too big a country to be saved and because the Euro zone exists. The huge debt must also be kept in mind; Italy has a debt of nearly $1 trillion which is said that it is 1.2 times the total economic product of Italy. The crisis that has plagued Italy has been due to reasons of extreme corruption seen at the topmost levels(the last PM Berlusconi ash been charged with tax frauds, money laundering, prostitution etc), the mafia infested south garbage disposal and also the tendency of the nation to spend more that it makes. There is also the problem of tax evasions; Italians have over the years resented paying taxes one of the reasons is that they feel they get little in return as the roads and hospitals are bad, playgrounds are not maintained and are also messed up due to graffiti.

 The EU however has asked Italy to make changes in 3 keys areas, they are- the problem of garbage disposal in Naples, immigration and the debt crisis. With a view to bring about change the EU has asked Italy to implement new policies in the above mentioned areas that will help take away the current crisis that the country is facing. If Italy does not respond it could face the European Court of Justice (ECJ), which has the power to rule against member states and levy heavy fines and other penalties.        

Italy as a country has faced severe problems in the recent past and it still continues to haunt the present growth of the country. However it also goes without saying that the EU has been beneficial to Italy in a number of ways since its membership in 1951. It has helped in the growth of Italy post the World War II, it has given rise to the ‘single market’, and this has been helpful in easy trade between the different countries like as if it were happening in a single country. The EU has also led to the strengthening of the Euro, which in turn has benefited the countries in the Euro zone including Italy. The use of the common currency across all 27 countries has benefited the people of the region the most; it has facilitated easy travel and steady economic growth.