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Union in sentence

2117 examples of Union in a sentence

Another proposal, which the European democracy movement DiEM25 and I support, would have the UK leave the EU but remain in both a customs union and the single market for a five-year period that can be renewed by mutual consent.
In particular, Canada-style solutions are inconsistent with both a successful divorce settlement and keeping Northern Ireland in a customs union with the rest of the UK.
In the interest of revitalizing democracy and ending the toxicity of the current Brexit process, DiEM25 and I will be backing the UK’s inclusion in the single market and a customs union with the EU for a renewable five-year period.
Discussions on banking union are still under way, and Germany is reluctant to mutualize risk.
Beyond a banking union, an effective and resilient monetary union may ultimately require a sovereign-debt-resolution mechanism, a common budget, partial debt mutualization, or a common Treasury, to name only the most discussed proposals.
Finally, it is time for Germany, the country that invented the concept of European political union, to give it form and substance.
The idea that monetary union would naturally give birth to political union proved to be wrong.
But the idea that monetary union requires a degree of solidarity that can be underpinned only by some form of political union has been vindicated.
Only the union he was forced to join, the American Federation of Television and Radio Artists, has been doing any formal saving and earmarking of his retirement assets.
And he will have to praise the decline of unions and the shedding of benefits by firms – and argue that individuals will make better choices than union experts or firms’ benefit departments.
There are also well-known examples of highly corrupt union pension funds, such as the one bilked for years by the leadership of the Teamsters.
The European banking union, in its current state, is not only incomplete; its design flaws have made it a source of inaction and instability potentially worse than the ills it was intended to cure.
But there are far more troubling problems with the conceptual foundation of the banking union itself, in particular with its resolution framework.
A unilateral blanket bailout would stress the banking union, stretch public finances, and leave the Italian banking system with its structural weakness.
Indeed, the outcome could determine whether the country remains in the eurozone, with far-reaching implications for the rest of the monetary union.
Eurozone authorities may claim that a Greek exit no longer poses a systemic risk, given the introduction in recent years of various instruments for fighting financial crises, including government-backed rescue funds, a partial banking union, tougher fiscal controls, and the European Central Bank’s new role as lender of last resort.
But labor costs increased much faster in the south, resulting in differential cost increases that cannot be addressed by devaluation as long as the monetary union endures.
But the difficult negotiations that led to the agreement eclipsed European Council President Herman Van Rompuy’s recent report, Towards a Genuine Economic and Monetary Union, which calls for unity far beyond a banking union.
At first, the eurozone seemed to function like a true currency union: capital-market integration was accelerated; cross-border activity increased; and the per capita income gap between member countries decreased.
But, unlike in a complete currency union, such as that of the United States, eurozone members retained full financial sovereignty, meaning that they controlled all of the levers of macroeconomic policy.
In a genuine currency union, wealth transfers and automatic stabilizers mean that such discrepancies do not pose a problem.
One reason why Germany agreed to merge the DM into the euro was the hope that a monetary union would distribute the burden of the reserve-currency role over a wider area.
But imposing major losses on Cypriot banks’ depositors violates the deposit-insurance guarantee that forms part of the proposed European banking union, while the imposition of capital controls further erodes the monetary union’s foundations.
Germany and the other countries of the eurozone core are signaling that debt mutualization within the monetary union is out of the question, and that bailouts of countries or financial institutions will be balanced by “bail-ins” of their creditors.
But this does not necessarily work in an imperfectly functioning monetary union, such as the eurozone, where the continual appearance of systemic flaws erodes confidence; in such circumstances, the result may be hoarding and capital outflows, rather than increased spending.
The eurozone’s flaws reflect its conceptual distance from the US, which is the only model of a well-functioning monetary union.
But, to make the eurozone work, monetary unification should extend to the fiscal and financial fields, thereby creating an integrated economic union.
The longer that European authorities postpone the introduction of Eurobonds, an effective banking and fiscal union, and lender-of-last-resort status for the ECB, the longer the crisis will last.
By effectively defaulting on a deposit-insurance guarantee through its actions in Cyprus, the eurozone backtracked on the planned banking union.
In fact, East Asian countries are unlikely to move toward a regional fixed exchange-rate system or a monetary union with a single currency in the immediate future, owing to the region’s great diversity in terms of economic and political conditions.
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