Introduction
The crisis that is being experience in the countries of European Union is one of deepest since this union started to exist. Due to these crises the European euro is currently experiencing an acid test and this is a threat to the abyss market that is suspected to go down with it. From this it is very evidence that it may lead collapse of this European Union that has always been successful since its integration in the year 1987.
The things that result to these developments are not yet found. The first thing that can be taken to result to this is the architecture of their economies and the unions of monetary that were of Maastricht treaties of the year 1993.The second thing that can be taken to be associated with the same is the consequences that may result from the global financial and the crises to the economies for the finances of their governments. The third thing can be taken to be the failures that were due to multiple policies since this crisis began.
The project of these European Union states of making use of a common currency and never took to account the political union with equalization of their financial mechanisms and a government with a common economy was one of the biggest adventure that today faces a lot of disbelief but twenty years ago was seen to be necessary by their political mainstreaming that was mainly based on internal markets and creation of strong faith that could have driven them more closer to their integration. All of the Europeans social democracies and their trade unions were certainly being convinced by these logics. The global crises were able to instantly bring out the weakness of these Maastricht structures. The other thing is that there was no government that would have that would have dealt with the downturns in the economy.
Many states are rising to be Neoliberal reforms that were mainly the security systems have brought down pensions, the medical services and the benefits that one got from being unemployed, also the burdens that were financial shifted to the employees. Under the same problems there were demographic changes, deficits in there budgets, insantances of unemployment, and there markets system has changed very much in the last fifteen years. The elements that were being funded are now being introduced as pensions. The reforms that are now occurring to the health sector are yearly becoming complex , the benefits that people were getting are being reduced yearly and private paying are introduced and are increasing as days go by.
In the mid 1990s there were very close links that were there between the economical and social development in the countries of EU. Those states that had more per capita were able to always create high resources than those countries that usually had low levels of their economies according to the welfares in this states. This variation that was due to per capita income in these European Union explained why there were more than 80% in the ratios that were social benefits.
Pressure that was due to high unemployment levels and the intervention of member states so that they liberalize their markets labour, and trade unions power that was on the southern Europe has been greatly reduced. These adaption by nation such as Italy, Spain, that are mainly in exchanges of credits for support as well as cutting down the spending has put immense pressure to the states of EU has continuously led to cuts in the social security’s and its systems.
