4. The European Suboptimal and Segment Areas

The European Union (EU), in its current structure, does not constitute a formed state; at least not in the way we perceive such an entity with formalized institutions and procedures relating to economic and social activities. Hence, existing EU institutional procedures and functions (e.g., allowing for the clear implementation of current economic policy such as the drafting and passing of budgets) do not have the same significance as they do, for example, in the United States (US) or indeed in the separate national states. Nor does the EU have a unique personality or united front, such as that imparted by the government or the President of the US, to present and be liable for economic policy in a responsible and organized manner. It is not uncommon, therefore, for there to be conflicting statements by officials or, on occasion, conflicting policies. This chapter focuses on the limitations of non-issuer member states stemming from to their inability to print money, and outlines some basic features of the Eurozone segmented economic and social areas.