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In today's world, defining the concept of a superpower is not a task to be lightly taken. Typical characteristics of a global superpower are that it's a huge country, with vast resource wealth, has a large population, and its economic prowess is what keeps the economy of the world running. There is also the influence it is able to exercise in decisions that would concern the balance of power and resources on a world scale.

Globalization has succeeded in integrating the economies of the world, making sure that there is not one country, which would be better off by closing itself to the world. As an example, if China were to convert its reserves to the euro, the economy of the United States would immediately collapse because of the rampant inflation that would follow.

The European Union itself is a powerful entity. From its beginning in the 1950's, it was meant to be an economic, rather than political or militaristic means to spur prosperity. Its purpose is to allow the less restricted movement of capital and goods across the borders of European countries. Even more, a common currency eliminates the hassle and frustrations that come with international trade otherwise. Another benefit is the elimination of tariffs and other trade restrictions, which disappear with the imposition of common trade standards everywhere within the Union.

Therefore, in the economic sense, the European Union is a superpower, as it creates a common, largely unrestricted market that unites several hundred million people, and results in more efficient allocation of production and resources. This, in turn, leads to an increase in wealth, both in the new, and older members.

History, however, proves to be the one weakness of the European Union. Fragmented into fifty-three countries, Europe's people jealously guard their identity, and are severely opposed to losing it. This makes gaining consensus on policies very difficult, as countries may want to protect traditional industries, associated with their own history and culture. Groups that may be disadvantaged by free trade also drive economic interest, and they are the vocal minorities with influence in the respective country's government typically agricultural or manufacturing industries.

The above-mentioned discontent, however, is minor, compared to one other goal the creation of the European Union attempted to achieve, and so far, it is successful. In the first half of the twentieth century, Europe was wracked by two world wars. The cost of these

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