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Europe is becoming a global political power
The crisis caused by Russia’s invasion of Ukraine has triggered new forms of cooperation among EU member states.
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A European Union flag being held up during a rally in support of EU membership for Georgia in the country’s capital Tbilisi early last month.
PHOTO: AFP
Laurence Boone
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(FINANCIAL TIMES) - Russia's war of aggression in Ukraine is shaking up the European Union, accelerating its evolution into a fully fledged sovereign political power, complementing its existing economic strength.
The EU has grown more powerful through several crises. "Economic Europe" has evolved into a strong and stable single currency, making the devaluations of the era of flexible exchange rate systems a distant memory. And since the euro zone sovereign debt crisis, the bloc has also strengthened its financial system and monetary tools.
