EU in Transition or a Failed Project?

Abstract

The European Union (EU) has come a long way since its inception in late 1950s as the European Economic Community, now regarded as the most notable example of regional integration in the world. Yet, the union has witnessed several challenges — among them economic crisis, the dominance of large members within the Union and seemingly less favorable treatment towards new and aspiring members — which, to many, have casted doubts over the future of the arrangement, particularly the common currency and the monetary union. Nationalist tendencies have also risen across the members. Nonetheless, the EU remains far from an imminent failure. What is needed is to make the EU more democratic in its decision making and functioning.