POLI 451 Chapter Notes - Chapter 3: Common Agricultural Policy, Uk Rebate, European Exchange Rate Mechanism
11 Oct 2014
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Document Summary
Dinan provides a historical overview of the european community (ec) in the 1970s and early 80s is that of a community in flux, lacking internal coherence and buffeted by international economic whirlwinds. Ec was coping with oscillating exchange rates and uneven economic performance (low growth, high unemployment, and rampant stagflation). Eu go through because of: the european council became a problem-solving forum with regular summit meetings of the heads of states or government. 1970s crises convinced national govt"s, commission, & european parliament of the urgent need for institutional reform and police innovation. Ec"s problems: a dysfunctional decision-making process, a weak commission, agricultural policy out of control , new french president francois mitterrand pursuing a dash for growth that further strained community solidarity. First enlargement in 1973 (britain, denmark and ireland) Serious economic downturn shook the community (soaring inflation, yawning trade deficits, rising unemployment, worsening oil crisis: exchange rate fluctuations, divergences in member states" monetary and economic policies.
