Title: The European Union and Supranationalism
Headings: 2.3
The European Union and Supranationalism

2.3 The European Union and Supranationalism
Learning Objectives
Unification Efforts in Europe
Supranationalism
Special Section: Esperanto
About the European Union
Key Takeaways
Discussion and Study Questions
Geography Exercises

Content: To address the differences in the many currencies used in Europe, the EU introduced a common currency called the euro. This solution encountered resistance but has been accepted by most EU members. Great Britain is a major economic player in the EU, but it has not adopted the euro as its main currency. It has kept the traditional English pound sterling. Most of the old currencies of EU members are being phased out and the single currency of the euro has become the standard. Even countries not currently in the EU have adopted the euro as their national currency. Unification has created economic problems between the wealthy industrialized countries and the poorer regions of southern Europe. There is disagreement over how taxes or funds will be allocated. The poorer countries would like economic assistance in developing their industries. The wealthier nations are at times resistant to sharing their wealth.