Will The EU Fail? | Economics Explained

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In this video we will rank the European Union (EU) as if it were a country on the Economics Explained National Leaderboard, after exploring the economic challenges and opportunities facing all current member states. The EU collectively represents the third largest economy in the world, after China and the USA, with a population of 447 million people and 20 member countries that use the Euro, the second most widely held reserve currency after the USD. The five biggest countries in the EU by population are Germany, France, Italy, Spain, and Poland, and the region has a significant impact on the global economy. However, the EU faces several significant economic challenges, including the debt crisis, Brexit, and tensions with major energy suppliers. We will also examine the potential impact of a non-unified Europe on the global economy and the likelihood of other nations following the UK's example and leaving the union. By exploring these issues, viewers can gain insights into the workings of economic unions and the potential future of the EU.

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[one_of_the_masses]

You guys are careful enough to keep Kaliningrad out of your EU map unlike many others which is why it is all the more surprising to see you put the UK in the EU.

[unematrix]

That map of the European Union is beautiful
1. UK rejoined the EU
2. Kosovo joined the EU
3. Montenegro joined the EU
4. Cyprus has become unified.
5. the microstates joined the EU except Liechtenstein.
6. Bulgaria and Romania no longer have a border
7. Gibraltar was conquered by Spain
8. the rest of the map is also hilarious

You guys couldn't have taken 2 minutes to check the map? seriously?

[jamesharrison]

Silicon Valley Bank (SVB) was the 16th largest bank in the US, and it wasn't subject to the most strict controls. How many banks actually are subject to those controls, besides the big four? Any bank could suffer a run and fail, and if that happens to a community level or even state level bank it probably won't upset the national economy or ecosystem of banks, but any multi-state bank should be more closely watched.

[jessicasam]

The truth is that everybody wants to be financially independent and live a better life.
With savvy investing, an inexpensive lifestyle, and diligent budgeting, this is not difficult to do. I'm glad I realized early on that achieving financial freedom requires hard work.

[TheDarkever]

Small suggestion: leave some time before the end of the video, or the suggested videos to watch will cover the actual content. In this case they covered the leaderboard score ;P

[eggchipsnbeans]

Freedom of movement in the EU is not the same as the US; the language issues are non-trivial. Certainly people manage to move from say Italy to Germany and learn the language and prosper but it is not as easy as moving from Montana to Texas.

[gingerkilkus]

Economists and business leaders are voicing concerns at the start of 2023 that the year could be a difficult one. JPMorgan Chase & Co. Chief Executive Jamie Dimon said that the Federal Reserve may need to raise interest rates to 6% to fight inflation, higher than the peak level between 5% and 5.5% in 2023 that most Fed officials penciled in after their December meeting. Although I read an article of people that grossed profits up to $500k during this crash, what are the best stocks to buy/short now or put on a watchlist.

[taxol]

The problem with EU economy is having 1 central monetary but various fiscal policies (depending each country)

[mengerp]

Ofc UK is not in EU anymore, should not be in blue colour as if it is

[hser]

I for one welcome the existance of the new European superpower: Bulgaromania 💪💪💪 🇧🇬🇧🇬🇧🇬 🇷🇴🇷🇴🇷🇴

[jacknakamori]

"The British pound.... not that that example is particularly relevant any more"... who are you kidding?! 😂

[highvoltageswitcher]

Noticed that some Eastern European software developers are staying in their home countries but working for foreign firms. They don’t get the same money they would in US, UK or Germany however they get more money than working for a local firm. Seen it happen quite a bit in the lady 12 months on a project we have here in UK with South Eastern European software staff.

[audigex]

I love the idea that countries would have plans for how to handle leaving the EU "just in case"... considering that the UK still doesn't seem to have a plan 7 years AFTER voting to leave

[federicoae]

Whenever I watch one of your video and you inevitably talk about 20% inflation being "very high", I dream of having that rate of inflation. I'm argentinian if you can't tell.

[geopoliticsandglobalconflict]

great vid - what editing software do you use?

[charleskuhn]

You guys could have shown a map of New Zealand, it would have been just as accurate as the EU map you used.

[daniellarson]

Frame 5:45 - "It's important to remember that the EU is made up of democracies and governments will make decisions to stay or leave based on the will of their people even if those decisions are not entirely the best macroeconomic move." A more gentle way of describing the Brexit decision could not have been done.

[izdqszh]

With UK exports to the EU higher and imports from the EU lower, how has Brexit harmed the EU.

[nickelroof]

Oh, I'm from the UK. I didn't realise we'd rejoined the EU. I must have not got out of bed when we had that vote happened.

[tiberius]

As someone who works in one country and lives in another in Europe I object to the working from home thing. It's actually still pretty complicated, because usually you pay social security taxes in the country you are working in. If you are working from home at some point (usually 25% on your working time) the country you live (and work from home) in wants to collect social security taxes, too. More or less the same goes for income tax, as you pay income tax in the country you work in for the most part. That would imply that you cannot be employed by a company in a different country unless that company has a site or needs to found one in your country; OR you have to found a company yourself and be self-employed and sell your services... and then again there go your financial benefits usually, as people with that work model do so because you earn more in the other country.
Companies don't want to hassle with it, so working from home as a "border crosser" is either severely limited or forbidden by your employer all together.