10:47 - 14.10.2024

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October 14, Fineko/abc.az. The difficult economic and political situation in which the EU finds itself can seriously damage the position of the community in the international arena and put an end to Brussels' aspirations to become an independent global force. Europe is approaching a "tipping point", ABC.AZ reports, referring to the material published by Bloomberg.

The combination of "political paralysis, external threats and economic distress" pushes the EU countries to focus on protecting their own - and not pan-European - interests. Against this background, the agency notes that the EU is approaching a "turning point", as recently European elites have been faced with a lot of "evidence that the decline of [the EU] is imminent". Among those, Bloomberg calls the strengthening of right-wing political forces and eurosceptics in France, the unprecedented closure of Volkswagen plants, as well as the withdrawal of American tech giants from the European market due to the introduction of EU regulatory restrictions in the field of artificial intelligence technologies.

According to the agency, all these events prove "the inability of the EU to act as a cohesive and dynamic economic bloc", which undermines the international status of the community and limits its ability to respond to external threats. In particular, Bloomberg emphasizes that Europe is "unable to respond" to many global challenges, including climate change, the demographic crisis and the transition to a post-industrial economy. Against this background, the authorities of some EU countries began to consider the community "as an obstacle that they need to circumvent, and not as a source of prosperity and protection", and therefore begin to strive for rapprochement and integration with states outside the EU.