Abstract

PAEZ PEREZ, Pedro Nel; ISAZA QUEBRADA, Jorge  and  ZAMORA, Luz Amanda. THE CURRENT EUROPEAN CRISIS. rev.relac.int.estrateg.segur. [online]. 2013, vol.8, n.2, pp.15-36. ISSN 1909-3063.

The European Union is undergoing a profound economic crisis that has resulted in negative growth rates and high unemployment, which have led to a severe adjustment and austerity measures that reduce the quality of life of millions of people in the continent. The main objective of this research report is to provide an explanation of the European crisis and its effects on wellbeing. It also outlines the relation between the financial crisis and the real sector, highlighting some of the transmission mechanisms that eventually affect economic growth rates. The last part contains the most important fragments of the different theories of the European Union, as well as the fundamental elements that attended its creation and also highlights critical points that affect the Union, due to circumstances arising from the crisis.

Keywords : European Crisis; wellbeing; debt; securitization; leverage; theories of international relations.

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