While the European continent has remained stable since the Second World War, it has failed to see a huge amount of continent-wide growth since then. However, the world has seen European nations increase their influence in the world economy. This trend will continue for the next decade into the next millenium and increase the quality of life for the majority of European nations. The formation of the European Union (EU) has proved to be one of several factors that will increase the strength of Europe. The economic alliance recently showed its influence on the American economy by hinting at a threat to impose taxes on the recent acquisition of McDonnell-Douglas by Boeing. Even a threat by the EU made economist jittery and politicians in the United States plead them to allow the merger to go through.
A second factor that will contribute to a strengthened European economy would be a common currency for European nations. This would allow many nations to purchase products necessary to build their economy up and improve the quality of, not only their own citizens, but also the citizens of all of Europe. The factors that are included in quality of life include air, water, land and standard of living. As companies are financially able to place environmental protections in their operations, the quality of the air, land and water will increase due to better treatment these valuable resources. An increase in these resources will result in better products and an increase in the quantity of products, thus, resulting in a better quality of life again. As in any economy, growth increases the standard of living.
A higher standard of living results in a more comfortable life for European citizens. The recent predictions of a crash in the stock market could have disastrous effects on the European economy. If there were to be even a slight dip in the stock exchange could cause the economy to slow and not see such a huge increase in the quality of life. Also, a quite possible conflict in the Middle East could draw European powers into a very costly conflict, temporarily bringing down the growth in their economy. A strengthened European economy may hurt other economies in the short term, but will ultimately benefit the world economy. Increase in trade will help all nations involved. Also, an increase in the quality of life and economy of Europe may free up money that government could use as aid for developing nations; therefore, increasing the quality of life of people worldwide.