AN OVERVIEW OF THE EUROPEAN UNION AS A MODEL FOR REGIONAL ECONOMIC INTEGRATION

Abstract

Following the aftermath of the Second World War, the member states of what was later to metamorphose into the European Union (EU) have been making steady strides towards forging a stronger and more formidable union through aligning their unique national attributes and resources for the common welfare of the collective. These strides are not without challenges, whether internally generated or externally imposed. The paper adopts the doctrinal methodology of research by examining statutes and existing body of literature in this area. Despite these challenges, the EU remains a coalition of determined nations resolute in its aspirations and unflinching in the pursuit of common goals. This paper finds that that the success of the EU experiment can be attributed to visionary leaders who conceived a ‘supranational community method’ in preference to the ‘balance of power model’; the strong leadership role of the Franco-German axis in guiding the sometimes floundering ship of the Union. A careful blending of these listed attributes has culminated in the recognition of the EU as the ideal model for regional integration, earning it the Nobel Peace Prize in 2012 ‘for advancing the causes of peace, reconciliation, democracy and human rights in Europe.