Financial perspective

The move towards a political union also came into the light in the year 2005 then the European Union’s member states came to an agreement of formulation a common budget which would constitute about 1. 045% of the gross domestic product of the European region. The political inclination of the union included a financial perspective during this time as the move towards political unionization continued. This move was aimed at ensuring that the union could finance some common policies like the policy of research and development as well as the agricultural policy.

However, controversy about this move when a demand by France to reduce the value added tax in the catering industry was denied. An economic project should have considered such a request from France (Sbragia, 2006). The recent development towards a complete political unity came abut when a treaty which soughs to establish a European constitution was formulated. This constitution was meant to govern the whole region under the European. This was a move towards attaining full political stature by the European Union as a constitution would give full jurisdiction to the European Union over all its constituent members’ states.

This move was rejected by Netherlands and France. An agreement to reform this treaty was agreed upon in the year 2007 Nosemonkey, 2005). Another reasons as to why the European Union is more of a political project rather than an economic project is due to the economic imbalance is has led in the Europe and other member states. An economic project is supposed to ensure that the whole region develops uniformly and at almost equal pace. However this is not the case with the European Union since the most powerful nations within the union are the largest beneficiaries due to their political influence and affluence.

As such, the European Union is no longer an economic project but rather a political project (Nugent, 2003). Conclusion There have been heated debates as to whether the European Union still serves its role as an economic project or whether it has changed and become a political project. While some people still strongly believe that the union still serves as an economic project, scrutiny over the different treaties which are formulated constantly and which in turn grant the union more power while weakening the national governments has risen.

Since the formulation of the union, most of the member states’ have lost their federal power with much of this power being taken over by the union. The European Union has become a political project with the most powerful political states continuing to control it.


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