Example collocations logo

Union in sentence

2117 examples of Union in a sentence

They can pin their hopes on China, where monetary policy will become more expansionary, according to Fudan University’s Zhang Jun, or on Europe, where the European Central Bank is providing increasingly powerful stimulus as monetary union evolves into a “deeper political union,” according to ECB President Mario Draghi.
Greece would be booted out of the monetary union.
The eurozone would be divided into a Northern European union and a Southern European union.
But, having doubled their bet, Europeans now must make their monetary union work.
But it lacks the other elements of a proper monetary union.
Adjustment in the United States’ monetary union occurs partly through labor mobility.
To be clear, this is not an argument for Germany’s dreaded “transfer union” – ongoing transfers to countries like Greece.
But it is the agenda Europe needs to complete to make its monetary union work.
For example, most proposals involve some kind of fiscal union, which would inevitably entail the partial transfer of fiscal sovereignty from national governments to the European Union.
Trade is among the reasons: reduced demand from China, unprecedented uncertainty about US trade policy, and the looming prospect of a “hard” Brexit in which the United Kingdom leaves the European single market and customs union.
Maintaining a 17-member monetary union is no longer a given.
For them, only a crisis can stop politicians from just kicking various cans farther down the road and, instead, catalyze the policy initiatives – greater fiscal, banking, and political union – that, together with monetary union, would ensure that the eurozone rests on a stable and sustainable four-legged platform.
At the same time, efforts at nation-building along secular lines were reflected in Egyptian President Gamal Abdel Nasser’s pan-Arabism and the Syrian Baath Party, resulting in the establishment of the United Arab Republic, a union between Egypt and Syria that lasted from 1958 to 1961.
So the question is whether these euro-zone members will be willing to undergo painful fiscal consolidation and internal real depreciation through deflation and structural reforms in order to increase productivity growth and prevent an Argentine-style outcome: exit from the monetary union, devaluation, and default.
Differences over strategy and tactics between the key members of the currency union, especially Germany and France, and between the eurozone’s northern and southern members, simply run too deep.
Everyone is aware of what needs to be done: find a new compromise within the currency union between the stubborn German-led focus on austerity and the Mediterranean countries’ need for increased spending to restore growth and boost competitiveness.
Many people think that 2012 will be the make-or-break year for Europe – either a quantum leap in European integration, with the creation of a fiscal union and the issuance of Eurobonds, or the eurozone’s disintegration, igniting the mother of all financial crises.
Papandreou’s move also exposes the fatal flaw of grand plans for a political or fiscal union to support the euro: the “people,” not governments, remain the real sovereign.
In fact, the monetary union has become a political and economic nightmare, plagued by recession, record-high unemployment, social unrest, and rising distrust among member states.
To escape the crisis, EU leaders must recognize the shortcomings of the eurozone’s one-dimensional framework, and develop a system better suited to managing a multi-faceted monetary union.
But the impact is severely limited without external devaluation, which is impossible within a monetary union.
This new monetary union would be managed according to the original Maastricht Treaty, with a truly independent central bank responsible for regulating the northern euro’s exchange rate against the euro, which less competitive countries would retain.
But a Eurasian customs union among post-Soviet and other countries is not the road to modernization for Russia; nor is an effort to make the defense industry the engine of industrialization.
And besides, regardless of how long Chancellor Angela Merkel remains in office, it is already clear that German backing for a “transfer union” is not in the cards.
In name of the old formula, Bersani allied himself with the SEL, reassuring the center with one hand, while trade union leader Susanna Camusso and SEL leader Nichi Vendola scared it with the other by demanding a new wealth tax.
As long as a fully-fledged political union remains a vision for the future, fiscal transfers must be legitimized by national parliaments.
For now – and probably for a long time to come – the eurozone will continue to be a union of sovereign states, with each country responsible for its own policies and for their outcome.
The creation of a European banking union is another area in which misguided calls for solidarity prevail.
Legacy problems in national banking systems should be solved at the national level before the banking union moves forward.
Walter Hallstein, the first president of the European Commission, repeatedly stressed that the union is based on the principle of a community of nations under the rule of law (Rechtsgemeinschaft).
BackNext