European economies under severe pressure
As the ongoing expansion of the EU continues at great pace many people believe that this rate of growth in member numbers needs to be reined in. Figures suggest that some of the more recent additions to the EU are struggling more than the average economy in Europe which is placing more and more pressure on EU budgets and the European Central bank. We have seen a significant fall in many of the eastern European economies where literally billions upon billions of pounds will be required to save many from total collapse.
While there is no doubt that the worldwide influence of the EU has increased substantially over the last few years, offering collective bargaining and opening significant new trading markets, a number of new entrants to the union now appear to have been wholly unprepared. With leaders such as Germany and France suffering their own local problems with regards to unemployment and economic growth, there are fears as to where any additional funding will come from in the short to medium term. Inevitably there will be an increase in taxation on a Europe wide basis, such as that expected in the UK, in order to replenish the European Central bank coffers.
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