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Was the formation of the European Union a good idea?

The creation of the European Union has been the subject of debate within the 15 existing member states and the further 10 states who will be joining it. There are plus and minus points.

Plus:
1) The advent of globalisation has lead to creation of corporations that are, in some cases, larger than many smaller countries in terms of revenue. How are these countries meant to keep such organisations in check unless they have a "big brother" to protect them. The answer is that they could not, therefore there was a possibility that they would be exploited.


2) American is, or was, the largest country in the world. But in reality in itself it is a Union. Is it fair that the USA should be allowed to continue to trade from a position of advantage, or even use its might to dictate international policy? The answer is no. This is where a competitive force such as the EU can play a vital role.
3) International crises. On their own, the individual member states of the EU would not be able to protect themselves from incidents of terrorism or international strife of any nature. With the EU's backing this is no longer a problem.

Minus.
1) Loss of identity. There are a large percentage of EU citizens who are concerned about the loss of identity, who no longer know whether to call themselves citizens of Europe or of their own country.
2) Republican type authority does not sit easily with many citizens of the EU, especially those who have been broughtb up with monarchys.
3) It is more difficult for Europeans in that there is not a universal language, thus there comes the problem of old adversaries and interpretation.

From a personal point of view I can see the necessity as a protection against industry and other superpowers, but there are concerns in other areas.

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