Economic Implication Of European Union 's Expansion

On 1 January 1995 three new countries joined the European Union. Austria, Finland and Sweden endow the Union with their distinctive contributions and create new dimensions for it in the heart of central Europe and in northern Europe.

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.

Since 1950 European Union (EU) was created it has promoted peace, prosperity and values among the member nations and its neighbouring countries. EU’s influential tools, has helped transform many European states into functioning democracies and prosperous countries. EU’s membership has grown from 6 to 28 countries (Enlargement, 2014), satisfying a historic vow to integrate the continent bringing in most states of Central and Eastern Europe (CEE) by peaceful ideals.EU has anticipated the enlargement as an extraordinary opportunity to endorse political strength and economic success in Europe. EU’s extension policy is open to any European state that fulfils the EU’s political and financial criteria for membership; still the political process of inclusion of new state requires a unanimous agreement from all the existing 28 member states. Europe is considered to be more flourishing and safer place due to the promotion of democracy, anti-corruption policy and the single market policy.

Europe now, for the first time in modern history, is a partnership sharing common values and a commitment to harmony and cooperation. The dream of European integration, shared by the United States, is now being realized, leaving behind us the wasteful era of wars, hostility, and inequalities. We are on the road to a Europe enjoying a unity and

Part of the exceptional nature of the EU stems from the notion that nothing like it has ever been attempted successfully before. The European Union is an international institution with a single market and shared currency. It strives to maintain singular goals and make its way towards being an “ever closer union”. Today, the European Union has expanded to include twenty-eight member countries with an influence that reaches every continent. This institution has had an impressive history, but it has reached a point of concern. The golden years which held high hopes of a united supranational Union are long over. The EU faces destructive problems today, which could ultimately end their impressive era of cooperation. The Union has come

The European Union is such a large politico-economic union that it plays a major role in the whole world’s economy. Although “the process of European Integration progressed over time both in depth and in extent” (Campos, et al., 2014, p. 6), it has been working on integration for over 30 years and the results are good at present as it is now providing benefits in GDP, labour markets, trading and many other aspects for its 28 member countries, including the United Kingdom.

On 25 March 2017, the European Union will celebrate the 60th anniversary of its existence. Nevertheless, the European Council and the presidents of the twenty seven member states are aware that it is not a perfect union.

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).

There is an erroneous assumption in the world that the concept of the European Union, the notion of having a shared currency, and borderless pan-European continent is a relatively new idea. However, the idea of a pan-European identity as it is known today through the European Union was established after the end of the Second World War, as the need for a united Western Europe was needed to combat the possible threat of war with the Soviet Union. The policies of the European Union went through a long review through the establishment of multiple pan-European organizations, primarily the European Coal and Steel Community (ECSC) and the European Economic Community (EEC), which provided the backbone of the modern European Union, through a number of treaties that encouraged European cooperation. It is through the combined efforts of the ECSC and the ECC that Churchill’s dream of a united Europe in 1949 eventually culminated in the creation of the European Union (E.U), an organization whose role is to protect the economic interests of aligned nations as outlined by the mandates of the ECSC and ECC.

The Eastern Enlargement was, and remains, a point of dispute when arguing the costs and benefits. It provided numerous opportunities for the EU, but with them came challenges, some of which could be argued were too much and too soon for the EU. This chapter will engage the major costs and benefits in the way they were presented by dominant theories of EU enlargement and integration. Furthermore, it will challenge the theories by putting them side by side with the observed changes that followed the Enlargement. To provide a clearer picture this will be done under two broad headings; economic and political.

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 European Union is the unique education which is taking place process of political formation. It can be considered as version of the answer to present calls as within united Europe there is an opportunity for the participating states to solve key problems of social and economic, political, cultural, ecological development and questions of internal and external security. In the XXI century, after semicentennial development of the European integration, EU I turned into one of the main and most developed centers of the modern world. The share of EU in a world gross product exceeds 20%, it is the share of it nearly a quarter of world trade. EU plays the leading role in rendering the technical and financial assistance to developing

In this essay I will discuss why and how the European Union (EU) was set up and the advantages and disadvantages of membership. The EU was set up after World War II in 1939- 1945, bringing harmony and peace among the EU. I will also explain and evaluate the political and economic situation between Post War Europe and understand the historical development of the European Union.

People have created unions many times but not all of them were successful, specifically when we consider alliances among number of countries with different economics, political systems and culture. For instance, last century brought both the biggest collapse and the most promising union in the modern history. Although U.S.S.R has disappeared from geographical maps, some of its members joined another alliance. The European Union (EU) is an economic and political partnership that united 28 countries on the European part of Eurasia and represents a unique form of cooperation among members today.

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)