Geopolitics Magazine March - April 2015 ( 8th Edition ) | Page 80

Geopolitics & Daily News Magazine
Moreover, according to Protocol 14, the eurogroup elects a president for an 18-month period
presidency. Members of the “Forum” are the countries that have adopt euro and are EU
members.
The Global Ecosystem
EU is a Major Player within the Global Economy Ecosystem and is highly interconnected with the
United States of America, not only in trade and finance, but in sharing security Issues under the North
Atlantic Treaty Organization (NATO). Another major player is the North American Free Trade
Agreement, a free trade agreement whose member states are Canada, USA, and Mexico. In the near
future, under the TTP agreement and the CETA Agreement, a closer cooperatio n between the EU and
NAFTA countries is quite possible to be established.
Other players in Global Economic Ecosystem are:
1. The Commonwealth of Independent States (C.I.S) which has more than 150 million consumers
with potentials to reach up to 250 million consumers
2. The Nordic Council with 25 Million consumers
3. The Asia-Pacific Trade Agreement (APTA) which includes the following countries China,
Bangladesh, India, Republic of Korea, Lao People's Democratic Republic, Sri Lanka and Mongolia
4. The Cooperation Council for the Arab States of the Gulf which is a regional intergovernmental
political and economic union consisting of all Arab states of the Persian Gulf, except for Iraq. Its
member states are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
The union is preparing to introduce a single currency based on the European Single Currency
Experience.
5. The African Union (AU) is a union consisting of 54 African states excluded the Sovereign State
of Morocco. The AU was established on 26 May 2001 in Addis Ababa and launched on 9 July
2002 in South Africa. The most important decisions of the AU are made by the Assembly of the
African Union, after the political turmoil in Libya the Union had to setback in several unification
projects and relay to European Union (aka France) and NATO for security issues and to UN for
humanitarian and peacekeeping support. The union has a population of 1,053,136,000
according to 2013 estimations.
The global ecosystem has several pillars that facilitate the global economic cooperation. Its goal is to
unify national economies in the era of Globalization. The most important institutions for the global
Economy is the International Monetary Fund, the World Trade Organization and the World Bank.
A competitive / complimentary role to these institutions is quite possible to be carried out by the
Development Bank established by BRICS countries.
BRICS are the last group of countries that emerged from the dissolution of USSR and the rapid
economic development in China, Russia, India, South Africa and Brazil.
On top of all these organizations lies the United Nations, more often via the United Nations Security
Council Resolution.

Geopolitics.com.gr all rights reserved 2015

Page 78