Analyse any three factors responsible for the European Union to be a highly influential regional organisation.
The EU has considerable political, military and diplomatic influence:-
- The EU with a GDP of over $12 trillion (2005) is the largest economy in the world.
- Its currency Euro can pose a serious threat to the hegemony of the US dollar.
- The EU’s share of world trade is three times bigger than that of the US.
- The economic power of the EU gives it power to influence its neighbours and Asian and African countries.
- France is a permanent member of the UNSC.
- Several non-permanent members of UNSC are also from the EU. This has enabled the EU to influence US policies such as the US position on Iran’s nuclear programme.
- The EU’s combined armed forces are the second largest in the world.
- Its total spending on defence is second after the US.
Concept: Rise of China as an Economic Power in Post - Maoera, Creation and Expansion of European Union, ASEAN
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