A Report On The European Union

The Union initially developed from the European Coal and Steel Community Treaty by the founding countries which was signed in Paris in 1951. It was created for the free movement of coal and steel among countries with the free access to sources of production. The Treaty expired on 23rd of July 2002 (Europa.eu, 2010). This Treaty was very successful as it created better relationships between member countries, which lead the countries to sign the Treaty of Rome on the 25th of March 1957. The Treaty of Rome

The United Kingdom initially joined the European Union in 1973 for economic reasons hoping to promote trade and form relationships with other states in the Union. In 1975 the UK held its first national referendum on withdrawal from the European Economic Community. According to the poll,” 67 % of Britons voted to stay in the EEC and 32 % voted to leave the union” (GYE). Because of this result the UK stayed in the EU in 1975. Over the past 40 years the European Union has been through a lot of change, many more countries have joined the organization and the EU has extended its control over more aspects of daily lives. These changes have sparked a lot of controversy coming from both the UK public and

The European Union is one of the most famous Economic blocs in our recent times. It is the culmination of efforts after the devastating Second World War. It currently includes 28 states with varied cultural and historical backgrounds and even different languages. It now has more than 30 separate international trade agreements with many countries such as Colombia and South Korea (Encyclopedia of Management).

The European Economic Community was an organization started in 1957 by France, West Germany, the Netherlands, Belgium, Italy, and Luxembourg, in post War World II torn European. This organization was a union between the Steal and Coal Community and The European Atomic Energy Community. The goal of the organization, heavily influenced by John Monnet one of its founders and National Liberation Committee member at the time, was to build a stronger cohesive Europe through collaboration and economic ties to bring mutual prosperity. This organization and its ideals developed into the well know European Union of today, that currently sits with 28 members. However, one controversial possible membership has increased in importance over the years.

After The Second World War, Europe was on the brink as it was in a state of total ruin, both economically and politically. Europe was involved in two World Wars in only fifty years, there was a massive need to achieve lasting peace as well as economic stability, this however would be difficult to achieve. The first major step was taken in 1951, when the European Coal and Steel Community (ECSC) was established. It was the chain of events leading from the ECSC that would be the first steps in molding today’s European Union. Throughout this period the “European” project was erratic and underwent quick development at certain times, and at others came to a grinding halt. The culminations of the larger moves seen in the sculpting of Europe were the main factors in the formation of the Europe that is seen today. Arguably the most important milestone is the, Treaty of Maastricht (1992).

The European Economic grew bigger with up to 31 countries joining the ECA having limited rights for each country. The treaty had plans on building a common market in 1957 this came into reality in 1958 with the creation of a customs union along with the Single European Act (SEA) in 1957. ‘They declared in its preamble that signatory state was determined to lay the foundations of an ever closer union among the peoples of Europe’. This confirmed a political objective of a progressive political interrogation from the member of states.

The European Union (EU), a partnership of 28 European countries, evolved from the European Economic Community in 1957 that contained six original members, not including Great Britain. The primary objective of the EU is to increase trade and movement of goods, services, and people, and to ensure economic growth between these nations. It also enacts legislation relating to justice and international affairs. On June 23rd, 2016 the Brexit referendum was held. The decision to leave won with a small victory of 52% with almost 72% of eligible electorates vote (Wheeler, Hunt). The United Kingdom’s vote out of the European Union, also known as Brexit, can be traced back to the ideals from Enlightenment

The success of the current European Union can be accredit to the diverse group of visionaries that founded the group. These visionaries include Konrad Adenauer, Joseph Bech, Jonah Beyen, Winston Churchill, Alcide De Gasperi, Walter Hallstein, Sicco Mansholt, Jean Monnet, Robert Schuman, Paul-Henri Spaak, and Altiero Spinelli (“The History”). Despite their various backgrounds, these founding fathers had one goal: to make Europe prosperous. The union began as a European Coal and Steel Company (ECSC), which was established by the Treaty of Paris following World War II. This organization consisted of the six founding countries, Belgium, Luxembourg, Italy, France, Germany, and the Netherlands. The organization would then rename itself to the European Economic Community (EEC) as a result of the Treaty of Paris as well as

Depending on who you listen to, the UK’s departure from the EU can seem like the worst economic decision ever or the best opportunity for the people and country to truly thrive. Economists, World Leaders, and experts of different

After the end of World War II in 1945, there was a motivation to promote and create unity between France and Germany to avoid future conflicts between these two powerful countries. It was this incentive that helped to shape and establish the European Coal and Steel Community (ECSC) back in 1951 and was also the foundation of the current European Union (EU) as we know it. Only two decades after its creation, the EU faces a very critical and somber moment in history. In recent years, the European Union has been challenged by a series of problems and crisis including slow economic growth and recession, the Greek debt crisis; the Ukrainian crisis, the ongoing migration and refugee crisis, the upcoming UK

The European Union (EU) was established in order to prevent the horrors of modern warfare, experienced by most of Europe during the World Wars of the 20th century, from ever ensuing again, by aiming to create an environment of trust with the countries of Europe cooperating in areas such as commerce, research and trade (Adams, 2001). The EU has evolved into an economic, trade, political and monetary alliance between twenty-eight European Member States. While not all Member States are in monetary union (i.e. share the currency of the euro), those that are form the ‘Euro-zone’ (Dinan, 2006). The EU can pass a number of types of legislation, with a regulation, act, or law, being the most powerful. Its ‘tricameral’ (European Union, 2007)

The Single European Market (SEM) came into force through the single European Act Signed in July 1987. It began in 1957 when the Treaty established the European Economic Community (ECC). This treaty stated that the six founding members (Belgium, France, Germany, Italy, Luxemburg and the Netherlands) were to abolish customs barriers within the community and create a common customs tariff (Customs Union) that will be applied to goods from non-EEC countries. This was successful and was achieved on 1, July 1968.

The European Union is a group of democratic countries, which was founded in 1957, with 6 countries signing the Treaty of Rome. (Roberts et.al, 2008). It was to increase economic prosperity and contribute to an ever closer union among the peoples of Europe and committed to working together e.g. shared currency, financial management, legislative, judicial and executive bodies, regulatory and planning bodies. The main objectives of the EU was to create a unified business environment, the harmonization of company laws and taxation and the freedom of the movement of capital which is closely related to bringing company law of member states into closer agreement. Moreover, The EU set directives for the countries to follow in an attempt to harmonize accounting practices. The two main directives are the fourth directive and the seventh directive, which we will discuss below.

Agriculture is one of the vital sectors in terms of economic development and a number of countries tend to rely on their agriculture business for national economies; thereby, it is also one of the most sensitive sectors in the world. Under this circumstance, the European Union (EU) is the biggest food supplier. Since the establishment of European trade bloc in the 1950s, the EU has been playing a significant role in international trade. Particularly, this on-going widened and deepened union has contributed to both internal and external development through trade liberalisation in international arena. Nevertheless, it has not fully opened the markets and severely protected the agricultural sector with the common agricultural

Location of Austria (dark green)– in Europe (green & dark grey)– in the European Union (green) – [Legend]