USC IR 369 - Lecture 2 - The Great War and its Legacy (6 pages)

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The Great War and its legacy News Reports Eurobond debate Combine national debt into Eurobonds remove individual credit ratings for countries End to eurozone crisis because ECB has been buying up individual debts to save economy Allow for greater develop in periphery Greece Portugal Encourage by a lot of EU members Germany is largest opponent o Make it harder for Germany to borrow money Rest of the world needs stronger EU to buy their exports safe investments Government have more jurisdiction over social networking England Against validity for human rights IRAN against it for human rights reasons Results from riots in Egypt and Tunisia Spanish government legally responsible for controlling national deficit 318 350 parliament members voted in support formally debated and voted on Friday budgetary discipline into Spanish constitution Spain has been suffering from economic recession resulting from excessive borrowing it will reassure markets that Spain will keep finances under control Help Euro zone The Great War Outline Why did war break it Once it broke out why was the war so long and destructive 4 phases of war 1 Phase of Illusions 2 stalemate 3 slaughter 4 revolution and peace how and why Europe lost dominant and US rose to super power status after WWI People thought Germany would become most dominant not US Best colleges there auto industry what was legacy of US denial of that new found dominance War to end all wars 14 million deaths Late 19th century European dominance Why did WWI start April 1912 British French Naval Agreement July Crisis of 1914 The Spark that Started the War o The assassination of the Archduke Franz ferdinand and family next in command Heir to throne of the austro hungarian empire Assisanted 28th of june 1914 in Sarajevo man who assassinated just wanted serbian independence not a World War Started the July crisis Kaiser Wilhelm II Germany pseudo democracy essentially a monarchy though Believed in War as necessary right of passage Early july