Does globalization mean disappearing borders, a common trade unit, no tax in trade abroad, and political awareness across the world, or, in extremes, even interfering with other countries' domestic affairs? What are the possibilities, advantages and risks of such world citizenship? Disappearing borders, in the economic meaning of the term can most clearly be seen today in Europe. The EU has decided on a common currency, the Euro, which became available at the beginning of 1999. This currency may economically be more functional but what about national pride? All trade units display a country's well known heroes or great personalities of them that the citizens respect for. How are the citizens going to respond to this kind of change? Time will show but nobody can say. Are European countries nationalistic? One example is World War II, which started in the middle of Europe- -considered then the most civilized part of the world- because of Germany's belief in its national superiority. This unfortunate development took place just half a century ago. These European nation-states may seem to be getting along well for the time being because of fairly similar economic levels but what will happen if one country's economic level drops or gets much better than the rest? Would the better ones pull up the worst to keep up with them or would those countries-having the best economy- want to carry the rest on their shoulders? Besides its economic ups and downs globalization has a tremendous effect on cultural values. World has a cultural diversity in itself. Every nation every country has its own traditions values practices of cultural activities. These create a diversity which every part of the world can be pointed out by their own characteristics. By the beginning 20th century with the effects of industrialization and common usage of communication devices and transportation becoming faster and more comfortable economy started to play the most important role in a state's political policies.