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Unformatted text preview: As treasury secretary, I observed that the global economy depended on the US economy, that the US economy depended on the consumer, that the consumer depended on the stock market, and that the stock market depended increasingly on 30 or 40 stocks. I also remarked that the main thing we had to fear was the lack of fear itself, and that the world economy could not fly forever on a single American engine. ECONOMIC LEADERSHIP: THE EUROPEAN UNION What is the European Union? How does it work? Sources/indicators of economic power Sources/indicators of military power Soft powers WHAT IS THE EUROPEAN UNION? An intergovernmental organization? A federation the United States of Europe? A confederation? A supranational entity? Pooled/shared sovereignty A hybrid organization?...
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- Fall '08