Archive for the ‘Union of South American Nations’ Category

13 Jul
2010

The Quest For Supranational Institutions: Developing A Single Currency

When it comes to dealing with the creation of a single currency, the Union of South American Nations (UNASUR) is far less advanced than the European Community (EC) was at the time of its transition to a monetary union. It was only after the EC economies were deeply integrated and supranational bodies were independent from national governments that the European leaders began to consider the potential of a single currency among the member-states. On the other hand, South American leaders are already talking about creating a regional currency despite UNASUR’s Constitutive Treaty not having been ratified and that the region has yet to form a true common market. These and other differences between the European Union (EU) and UNASUR, make the creation of a single currency challenging for South American governments. Yet, despite the many obstacles that South American leaders may encounter, the economic benefits of a regional currency will far outweigh any drawbacks.

13 Jul
2010

Infrastructure Projects for Trade and Energy Integration in South America

The last attempt to form a union began in 2000 during the first South American Summit in Brasilia. Eight years later, the Union of South American Nations (UNASUR) was officially created. South American leaders did not wait for the official creation of UNASUR to begin promoting infrastructure; they began without hesitation at the 2000 Brasilia summit. Therefore, through the analysis of the infrastructure projects already under construction, I will argue that UNASUR’s economy will improve as the cooperative initiatives for infrastructure promotion will increase regional and international trade and further integrate the region.

13 Jul
2010

Brief History of the European and South American Integration

Nearly sixty years have passed since the French Foreign Minister Robert Schuman proposed the idea of integrating the coal and steel industries in Western Europe. As a result of Schuman’s idea, Belgium, West Germany, Luxemburg, France, Italy and the Netherlands signed the Paris Treaty in 1951. This treaty formed the European Coal and Steel Community (ECSC) and created a supranational body called the “High Authority.” This body was the executive branch of the ECSC and was independent from the national governments. The success of the ECSC led the abovementioned six countries to sign the Treaty of Rome in 1957, which created the European Economic Community (EEC). The EEC further integrated the countries by partially creating a common market and establishing a common external tariff for all products coming from third-party countries. The Treaty of Rome also established the European Atomic Energy Community (EUROTOM), which laid the foundation necessary for developing a strong nuclear industry. Ten years later, the three European organizations merged and formed one Commission, one Council of Ministers, and the European Parliament (EP).

28 Jun
2010

Why is the creation of a union of South American nations so important?

Over the last two hundred years, several attempts to form a union in the Americas have been promoted in different times, by different leaders, and for different reasons, but so far all of these attempts have failed due to the absence of a decisive leadership and a lack of political will. Despite the failure of previous attempts to unite the region, South American leaders have not given up yet and now once again they are trying to unite South America.

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