GLOBALIZATION DEMANDS camaraderie among regional neighbors and international allies especially during crises. In the European deficit problem, Greece has already been bailed out twice by the European Commission, the European Central Bank and the International Monetary Fund.
On the other hand, the Philippines relies heavily on the United States for help. In a comparison between both nations, how these countries stand still is a matter of multilateral interest and is composed of varying factors that add up to its end
.
Greece
Regional Allies
The Treaty on the European Union (TEU) in 1992 is responsible for the consistent currency throughout Europe, which is the Euro.
The Schengen Agreement deals with the entirety of Europe as a “free travel area” for those in the union. This creates a strong connection between countries in Europe.
Affiliation of Bonds
Enverga on Greece said, “They [European countries] are so strongly interconnected that they can’t afford to have Greece become too weak.” He explained that these countries support each other because the downfall of one would affect another gravely.
Philippines
Regional Allies
The front runners of the Philippine alliances are the United States of America (USA) and the Association of South East Asian Nations (ASEAN). Both entities help the Philippines in terms of debt support and creation of linkages that aid in the trade and international relations arm of the nation.
Affiliation of Bonds
He further compares by characterizing the weak ties between Philippines and USA, “The relationship of the US and Phillippines is not strong enough to feel bound to help the Philippines. The Philippine economy has been failing for awhile and I haven’t seen the US spend billions of dollars to help. There’s nothing to force them or to compel them to do so unlike the pressure that the EU feels in order to help ressurect Greece.”
