The European Union today consists of 15 members and it will expand significantly in years to come with the addition of countries from eastern and southern Europe. Europe’s economies are, on the whole, strong, and companies there have lately demonstrated uncharacteristic aggression in acquiring other firms. Yet stumbling blocks to closer cooperation remain: Not all EU members, notably Britain, have embraced the euro, which recently hit new lows against the dollar, and deep differences exist over the question of whether Europe would benefit from a written constitution. For an update on European developments, Knowledge@Wharton sought the perspective of one of Europe’s most prominent executives, Henning Schulte-Noelle, chairman of the board of management of Allianz AG, a global insurer and provider of financial services based in Germany.
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