Advantages And Disadvantages Of The European Union

The European Union (EU) is a unique economic and political partnership between 28 different countries. It consists of about half a billion citizens, and its combined economy represents about 20 percent of the world’s total economy (Briney, 2015). Today The European Union works as a single market, with free movement of people, goods and services from one country to another. There is a standard system of laws to be followed, and since 1999 many countries share a single currency called the Euro (Europa.eu, 2015). This essay will explore the background history of the European Union and the benefits and drawbacks of the European Union.

There have been various stages of economic growth between the countries of the European Union since 1958, when its history began. The pen-ultimate stage of its integration was a common or single market. Within a single market there a no tariffs between member countries and there are common external tariffs against countries outside the agreement. A single market is a strong form of integration involving the establishment of a common system of taxation, common laws relating to employment

 Economic interdependence means lesser escalation of political conflicts.     Impediments to Integration   Inefficient industries lose out (e..g US steels, and textiles) however, if a country  protects these inefficient industries, this in turn will make other industries become less  internationally competitive, due to the high cost of imports.    Governments are forced to compromise some degree of national sovereignty.    National interests may not equal regional instruments    Political/industrial interest groups (need to be overcome).    Third largest population of 500 million (after China and India), 340 million high income  consumers.    World largest economy in terms of GDP    Reasons for formation of this union:   o Avoid future political conflict   o Gain size, scope and efficiency advantages that allow European nation state to  compete with the US and Japan.

For the integration, the intersection of the economic need, life style of the people, and size of the economy must be same. Due to inappropriate way and lack of proper political integration by countries and surge in the national feeling over the common economic goal of the region has adversely impacted the area. European unions is comprised of many countries which include different countries which are in different stage of their economic development

This report will look at the benefits and issues surrounding the UKs decision to remain as a member state of the E.U. It will consider the pros and cons of membership, and the various viewpoints of those who remain in the E.U. and those who wish to exit from it. The report will conclude with a comprehensive discussion of results and findings.

many nation’s political leaders. Europe was in ruins following the war, and the funding received through the Marshall Plan was crucial in the recovery of Europe. Although Integration began following the war, it truly went in motion following the signing of the Treaty of Rome.

After World War II Europe pushed to unify. The reasons to unify were so that no war between would be conceivable, and operating as a large economic unit in the free market would help to rebuild Europe after the war. The European Union was established in 1956 with six members: West Germany, France, Italy, the Netherlands, Belgium, and Luxembourg. Their main agreement was that trade would flow freely within its borders. The six member states populations combined were freely available as customers to any producer and in member state. The Union agreed to give up most agricultural policy within their borders to the governmental structure of the Union. The Common Agriculture Policy was a breakthrough in regional integration, but the results showed to be cumbersome and expensive, leading to large production surpluses and high prices for customers.

Economic Union - occurs when countries enter into an economic agreement to remove barriers to trade and adopt common economic policies. European Union or simply known as the EU is an example of economic union.

Following on from this the EU has a large variety of benefits towards it member

The EU (European Union) has become a formidable power through trade, hence creating more problems with the rest of the world. Occasionally its dominance has helped it manipulate its trading partners. Starting with regional labor standards to development policies, and internationally ranging from global governance to foreign policy (Marshall & Jaggers, 2010).This paper will mainly focus on the EU as a dominant trade block. A factor that has undoubtedly contributed to the many conflicts it has internationally. The analysis includes different but recent trade related conflicts the EU is involved in and points out the factors that led to the misunderstanding, and in some cases if there was a third party involved in the issue. The analysis also shows if a form of solution was reached or if the dispute was left unresolved, and the possible outcomes it had during the time of the confrontation. Lastly, it summarizes the main ideas of the paper and gives a comprehensive overview of the analysis.

The European Union is the economic and political union, which consists of 28 democratic European countries: Austria, Belgium, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and United Kingdom. It is based on the principles of freedom, democracy, respect of the rights and general freedom of people, as well as on the principles of the constitutional state, which are shared within the country-members. This union is considered the most developed intergovernmental organization regarding to its power, effectiveness, and capacity to influence. Although, all those members

By being in competition, business are under persistent strain because they are expected to present goods and prices at their best possible rate to keep their customers. Enterprises are competing with both, the customers and other entities. Nevertheless, at some times, companies are attempting to restrict rivalry.

The current international system is characterized by growth in globalization hence regional integration is becoming a common phenomenon in most parts of the world. As a result of states becoming more interconnected, most of them have opted for regional integration so as to enhance trade between states thus boosting economies of the states as well as the regions as a whole. Besides free trade, regional integration has seen to it the elimination of trade barriers, free movement of goods and people across borders, regional co-operation in issues to do with peace and security within the regions among various other benefits of regional integration. One of the regions that has grown as a result of regional integration is the European Union (EU), which is an economic and political partnership composed of 28 European countries. This paper will focus on the EU and give a theoretical analysis of the Brexit while giving lessons of integration and liberalization based on the Brexit.

The reason I chose Customs Union as my topic is to learn more about how members or potential members of a union establish an agreement that benefit all parties. I find it interesting that members of a union are able to influence one another’s economic growth, competition and how they can complement one another as well. Having a common trade policy among a group of members and removing all barriers of trade can play a significant role in the success of a business. It saves a lot money, and could be a competitive advantage over competitors. Countries of a union joining can also impact its position in a global market, as well as help the country economically. The ability for a group of countries to come together and help each other is fascinating, and is why I chose to explore this topic more.

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)