The European Union, International Monetary Fund, And Greece

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The European Union, International Monetary Fund, and Greece What are the reasons unions and organizations are formed? Unions and organizations are formed to create solidarity, support, and overall continuity among its members. Unions and organizations can range from economic unity to political reasons. The European Union and the International Monetary Fund were formed on the basis of improving and assisting its members to avoid a chain reaction of ruin throughout the global economy as well as throughout its member states. Greece, a member of the European Union, has been in a controversial and precarious position in recent years with threats of leaving the European common currency in addition to receiving financial assistance from the…show more content…
One way to stop this from happening again was to unite the countries together economically and eventually politically. In this way, each individual country was tied to one other. If one country wanted to start a war it would affect every country in the union and cause collapse equally between the aggressor and the aggressee. (“EU - Information about Ireland 's membership of the EU. n.d.) The first step in the European Union was the creation of the European Coal and Steel Community (ECSC) in 1950. The foreign minister of France at the time, Robert Schuman, believed that the heavy industries of coal and steel in Europe should be united to secure a lasting peace. Initially, France and Germany were the main countries involved with the European Coal and Steel Community, but Belgium, the Netherlands, Italy, and Luxembourg also joined. With these six countries intertwined in the coal and steel industry one member country could not make weapons on their own for wars without affecting the other member countries. (Editors of Encyclopedia Brittanica, n.d.,) Due to the success of the European Coal and Steel Community, leaders in Europe commenced talks about creating a unified economic landscape within the continent. Hence, the signing of the Treaty of Rome took place on March 25, 1957 between the six European countries: France, Germany, Belgium, the Netherlands,
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