European Economy U10

Consequences of Economic Downturn:

• Widespread destruction and accumulation of debt lead to significant economic collapse, particularly in Europe.
• Millions become homeless, termed as "displaced persons (DPs)." This crisis affected various demographics, including families, veterans, and workers displaced by factory closures.

European Economic Recovery

The Economic Miracle:

• Post-war Europe undergoes a substantial recovery, transforming economies and rebuilding infrastructure. The recovery was not uniform; Western European nations generally fared better than Eastern Europe due to varying levels of economic freedom.
• By the early 1960s, European nations recover fully from the devastation of World War II, with countries like West Germany experiencing rapid economic growth known as the "Wirtschaftswunder" or "economic miracle."

Key Acronyms in European Integration:

European Coal and Steel Community (ECSC):

• Initial step for economic cooperation; aimed to eliminate tariffs between member states. Established in 1951, it represented the first significant step towards European integration.
• Founding countries included France, West Germany, Belgium, Italy, Luxembourg, and the Netherlands.

European Economic Community (EEC):

• Established with the Treaty of Rome in 1957, expanding trade beyond coal and steel to various products, leading to the formation of a common market. Notable for its role in increasing economic interdependence among member states.
• The UK, Ireland, Denmark (1993) and other nations like Greece (1981), Spain (1986), and East Germany (1990) join over time, highlighting the EEC's expansion during the latter half of the 20th century.

European Union (EU):

• Resultant body from the EEC, solidified by the Maastricht Treaty in 1995, aiming for an even tighter union with common policies on currency and borders.
• Membership expanded to 15 nations and approximately 395 million people by its establishment, paving the way for the Euro and deeper political integration.

The Marshall Plan:

Significance:

• A critical factor facilitating European recovery post-World War II by providing over $13 billion in aid (approximately $150 billion in today’s dollars) to rebuild war-torn economies, establishing trade barriers, and fostering economic integration among Western European nations.
• The plan also aimed to prevent the spread of Soviet communism by stabilizing European economies.

Rise of the Welfare State:

Creation and Goals:

• The welfare state emerges as a response to post-war social needs and fears of communism, emphasizing social security, health, and education reform.
• Examples include Britain's NHS (National Health Service) established in 1948, providing universal health care, showcasing the shift in government responsibility towards citizen welfare.
• Christian Democratic parties play a vital role in developing welfare state programs across Europe in the late 20th century to support citizens and ensure social stability.

Political Changes in Post-Cold War Europe:

Transition to Capitalism:

• Following the fall of the Soviet Union in 1991, there's a push towards capitalism in Eastern Europe leading to the emergence of oligarchs, economic disparity, and regional conflicts such as in Chechnya.

Vladimir Putin's Ascendancy:

• Initially followed the constitution but later amended it to extend presidential terms, effectively creating a president-for-life scenario. His leadership since 1999 has dramatically shaped Russia's political landscape.

Brexit:

EU Relations with the UK:

• UK votes to leave the EU amidst rising anti-immigrant sentiments, termed Brexit (British Exit), following a referendum held on June 23, 2016.
• Concerns over immigration and loss of national sovereignty drive the movement, with significant implications for trade and political relations in Europe.

Immigration Issues in Europe:

Impact of Immigration:

• Increased influx from former colonies, particularly in the UK and France, leads to socio-political challenges, including regional xenophobia, reflected in political climates and debates across Europe.
• The immigration crisis is particularly visible with Mediterranean crossings from North Africa affecting political landscapes, provoking debates on border security and asylum policies in Europe.

Second Wave of Feminism:

Overview and Goals:

• The second wave follows the suffrage movement, focusing on women's equality in the workforce and addressing the wage gap in the 1960s and 1970s.
• Key figures include:
  • Simone de Beauvoir: Authored "The Second Sex" (1949), critiquing patriarchal oppression and exploring the construction of womanhood in society.
  • Betty Friedan: Authored "The Feminine Mystique" (1963), spurring a movement for independence and equal rights for women, challenging the traditional societal roles assigned to women