The euro crisis has exposed deep structural flaws in the common currency. Stagnant growth, rising unemployment, and public dissatisfaction are threatening to undermine the cohesion of the European Union itself.
As the European Union's largest trading partner, with a bilateral trade and investment relationship valued at almost $3 billion dollars per day, America has enormous interests in Europe'seconomies. Public confidence in the EU is low, with low levels ofsupport among British businesses for the direction proposed in theEuropean Constitution.
When it comes to defense and military capability in the 21st century, it is clear that Europe is not pulling its weight. Spending and investment in defense across Europe has steadily declined since the end of the Cold War. The political will to deploy troops into harm’s way when it is in the national interest has all but evaporated for most EU countries.
The European Union is pouring enormous amounts of money into the United States. Regular multimillion-dollar payments to individuals and organizations in the U.S. raise important questions over Brussels’ interference in U.S. political and social debates including climate change, the death penalty, and membership of the International Criminal Court. It is also not possible to justify EU human rights budgets being spent in one of the world’s freest nations. The EU budget has become synonymous with profligacy, waste, fraud, and mismanagement. It is beyond time for EU member state governments and European parliamentarians to take action. And it is Congress’s duty to ascertain whether these expenditures are in compliance with U.S. laws, and to ensure that American interests are protected.
European leaders have roundly declared that it's now time to get on with Brexit after U.K leader Boris Johnson secured an emphatic win in the country's general election.