Eu Enlargement 2004 2007

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.

Addressing some issues, the European Union decided to issue 750 million Euros in order to start the process of financial stability for the whole union (Mckee 524). Over time, the union learned that that the amount of money was not enough in order to help each countries’ individual financial crisis. As of now, the union has to increase the amount of money they are feeding to countries in hopes of fixing the economic issues. The continuing issue with the European Union’s economic plans is finding the money to keep funding countries with low economic growth. Furthermore, the union also has to figure out how to deal with the issues that are outside of the European Union’s borders. In

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.

In its historical context discuss why and how the EU was set up and the advantages and disadvantages of membership.

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

As the EU includes 27 states therefore they would inevitably face difficulties due to the diverse range of national interests. On the other hand increasing numbers of policies are decided on a supranational level and therefore speed the process, for example decisions relating to trade or agriculture. However vital policies such as Defence remain intergovernmental, as do decisions such as the accession of new states. The effect of recent economic crisis has made an impact on the creation of EU superstate. The global downturn, which originated in 2007 created the ‘Eurozone’ crisis. As a result EU bailouts have been organized for Greece, Ireland and Portugal. The fear of the crisis extending further across Europe has caused a loss of confidence in the EU, and in particular the euro. There has even been speculation that Greece may have to exit the ‘Eurozone’. Alternatively it has also caused some to call for further integration, arguing the crisis has shown the need for tighter budget rules throughout the EU.

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.

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.

It will summarise the impact of the EU integration on business, discussing possible proposal of recommendations for problems, and finally discussing the important economics models with examples.

Most citizens of the euro area did not understand what they were losing when the Maastricht Treaty was signed in 1992, and the euro introduced in 1999. You couldn’t see it until there was a serious recession—when the government really needed to use expansionary

Europe was a politically and fragile continent after the Second World War that claimed millions of lives. It is in that background, that the first steps to European integration were taken with the establishment of the European Coal and Steel Community (ECSC). The celebrated Schuman Plan, laid the foundation for the first real supra-national economy in the world, that is, the ECSC. The European integration continued through the decades with the establishment of the European Economic Community (ECC) and the European Union (EU). In the recent period, the EU has come under intense questioning with the economic crisis in Europe starting 2007. The recent Brexit vote has put further questions on the future of the EU. This essay considers the process of European integration through the decades and also discusses the advantages and disadvantages of the union.

The European Union as we know it is an economic union of countries which make their own policies concerning economies, societies, and law. Created in 1993, the European Union now contains 28 countries in total, and is now the biggest economic union in the world by GDP. For big countries, the creation of EU was the removal of many trade and non-tariff barriers. Trade has increased approximately 30% since 1992. For smaller countries, it was a stepping stones for economic growth and negotiation power with larger nations. Since before the creation of EU in 1993, Europe were already the world largest trading regions, but the trading were complicated by

Eurozone and the EU institutions failed to detect that. This undermines the ability of EU institutions to deal effectively with challenges of integration of new members as well as opens the possibility that the EU is not immune to similar occurrences in the future. Finally, since the onset of the European economic crisis, the EU has accessed only one new member in 2013 - Croatia. Thus, the stalling of EU explanation since the octet of the crisis can undoubtedly be attributed at least partially to economic factors. Ultimately, though, the long-term effects of this crisis on EU integration cannot be conclusively established at this point, as the crisis is still ongoing. Therefore, next I look over the conventional wisdom about the factors

Economic impacts The European Union is planning to expand its size by up to a third, but its GDP by only

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)