The Future of Europe

Since the signing of the Maastricht Treaty in 1992, the recession that plagues the European economy has continued to fuel doubts, concerning the heightened level of European integration, and the growing membership of the European Union (EU). On the one hand, the “Europessimists” are skeptical regarding the feasibility of a common currency to be in circulation by 1999, especially if new members are integrated into the EU. On the other, the “Europtimists” believe that the prevalent global context calls for a strong and unified Europe, and that it is imperative that established goals be achieved. The challenges posed for the EU at the present juncture are many. In the general context of institutional reform and EU procedure, there are three goals which must be considered a priority: the implementation of a common currency; the creation of a policy for common security and defense; and, on more general terms, the elaboration of a common foreign policy.