Example collocations logo

Union in sentence

2117 examples of Union in a sentence

Some reforms are now certain to follow from the euro crisis, like enhanced fiscal cooperation among the eurozone members and a banking union.
BRUSSELS – When the architects of the euro started drawing up plans for its creation in the late 1980’s, economists warned them that a viable monetary union required more than an independent central bank and a framework for budgetary discipline.
Study after study emphasized asymmetries within the future common-currency area, the possible inadequacy of a one-size-fits-all monetary policy, the weakness of adjustment channels in the absence of cross-border labor mobility, and the need for some sort of fiscal union involving insurance-type mechanisms to assist countries in trouble.
Their message was simple: national governments must make their economies fit for the strictures of monetary union; the euro must be supported by deeper economic integration; and a common currency needs political legitimacy – that is, a polity.
And, beyond transfers, will Europeans, or some of them, agree to create a banking union (that is, Europeanization of banking supervision, deposit insurance, and crisis resolution)?
The Spanish crisis may well force them to create a banking union.
And the threat of a Greek exit from the euro may force them to decide how far-reaching a fiscal union they are prepared to embrace.
It would help to realize a vision of Europe that supports both sustainability and growth – a vision that is clearly in line with European Commission President Jean-Claude Juncker's priorities of creating jobs, sustaining growth, and developing a competitive energy union.
The creation of the euro without an appropriate fiscal union meant that transfers from surplus to deficit regions would not eliminate or even cushion demand imbalances.
The unemployed workers of Greece, Portugal, and Spain do not move to faster-growing regions of Europe because of differences in language, history, religion, union membership, etc.
Monetary union required political union.
We should have a political union, there is no doubt about it.”
Varoufakis thought political union would relax creditors’ stranglehold on his economy and create room for progressive politics across Europe.
The convergence is indicative of the growing sense of the need for fiscal and eventual political union if the euro is to be maintained without damage to economic performance or democratic values.
But there is also an alternative, much less ambitious view, according to which neither fiscal nor political union is needed.
Martin Sandbu of the Financial Times has been a strong proponent of the view that a workable monetary and financial union does not require fiscal integration.
“With banking union, there is no need for fiscal union,” he argues.
Consider what happens when a large bank goes bankrupt in the US – an economic union where the Sandbu and Eichengreen rules already apply.
It is too late to debate whether the culprit was the unwillingness of the European public to embark on the path toward political union or the timidity of its national politicians to exercise leadership.
To have a significant impact on Italian and Spanish borrowing costs, the latest effort must be big enough to dispel the convertibility risk that underlies the extreme polarization of government bond yields across the eurozone: investors are loathe to hold Spanish and Italian debt, because they fear that both countries might be forced to leave the currency union.
At some point, the IMF’s strategy, which should be focused on the distressed country’s citizens and its creditors, should depart from that of the eurozone, which is more willing to sacrifice individual countries’ interests for the larger interest of the monetary union.
A “hard Brexit” would mean that at 11:00 P.M.(GMT) on March 29, 2019, the UK’s membership in all EU treaties – such as the customs union and single market – and international trade agreements concluded by the EU would end.
In terms of its day-to-day affairs, the EU is largely perceived as a common market and customs union.
Moreover, Germany’s experience with reunification suggests that political union is integral to such a union’s success.
But whether monetary union on such a large scale was necessary to achieve this goal is dubious.
The EU needs some fiscal authority of its own if it is to make Europe’s economic and monetary union work.
It is already a profound peculiarity that customs duties in a customs union are still administered nationally.
On June 16, 1940, Winston Churchill proposed a Franco-British political union in the aftermath of the German invasion of France.
A decade later, West German Chancellor Konrad Adenauer proposed a Franco-German political union.
The Labour Party is proposing that the UK remain within a customs union with the EU but not within the single market.
BackNext