Having one of the largest economies in the global market, Europe is a key pillar of the global system and whatever happens to Europe in this upcoming year will alter the way the world functions right now on a global level.
Dr. Pustay and Dr. Thornton gave some very good insight on what is going on in the European Union right now. With 27 countries currently in the Union, and more to be added soon, it amazes me how anything ever gets put through the policy/decision making system that Dr. Putsay showed us. How feasible do you guys think the European Union is on an economic and political level? Should they keep on accepting new countries even while they are in the situation they are in right now?
There were a lot of issues brought up during the seminar including the debate about Turkey wanting to, or now not wanting to, join the Union, the unemployment crisis hitting Greece and Spain (with many other countries not far behind), and the rising old-age dependency ratio. What do you guys think will happen with the increasing unemployment rates? Will there be a clean-cut solution in the near future, or are we going to be seeing political upheavals and riots by the general population?
Dr. Thornton brought up a nice tie-in with last weeks lecture about energy when she mentioned fracking. With all the enthusiasm about fracking right now, it is surprising that France has outlawed it completely. How do you think the other countries will react to the idea of fracking, and what will it mean for the European Union and world if they countries do start fracking on a large-scale basis?
Thoughts or comments on the lecture?