Norway 's Economy And The European Trade 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.

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.

Norway is the third largest exporter of crude oil. Three separate strikes over a five-month period severely influenced production.

 Some argue that the current degree of integration is an economic union with an  evolving common political structure (but this is not entirely true given that all countries  do not share a common fiscal policy).   EU Objectives    Provide for free internal flow of production factors:   o Labour   o Capital   o Products    Provide protection for European industry and workers (free trade within and  protection outside countries)  o Tariffs and quotas applied to most basic commodities and services    Steel, Coal, Textiles, Agricultural Products    Banking,

EU policies aim to ensure the free movement of people, goods, services, and capital, enact legislation in justice and home affairs, and maintain common policies on trade, agriculture, fisheries, and regional development (European Commission, 2015). Countries accede to the union by becoming party to the founding treaties, thereby subjecting themselves to the privileges and obligations of EU membership.

This deal made history by becoming the first European Union and G8 countries to make a free trade agreement. The CETA deal also allows the EU (European Union) to have better access of Canadian sectors such as financial services, telecommunications, energy and maritime services. This will help Sweden gain valuable knowledge

Figure xxx illustrates the historical data on oil and gas production in NZ, Norway, and the UK. It is evident that Norway’s production is the largest, while NZ production is the lowest. However, it seems that NZ’s production has been relatively stable at around 40 thousand barrels per day since 2000, while the North Sea countries’ production except Norway gas production tend to decline since 2000.

however the discovery of oil in the North Sea has had a huge impact on the Norwegian

Iceland has always had a particular relationship with the European Union (EU). Up until 2008, it was one of the few countries that have never tried to become a member of the EU. However, after the outbreak of the Icelandic banking crisis, the time seemed ripe for the Nordic country to apply. Under the left-wing government of Jóhanna Sigurðardóttir, Iceland officially became a candidate country and

Norway is located in Northernmost part of Europe. Norway borders the North Sea and the North Atlantic Ocean and is west of Sweden. The coordinates that Norway lie on is 62 00N, 10 00E. The total area of Norway is 323, 802 square kilometers. In comparison to the world, Norway is ranked 68. Norway has a population of 5,147,972 people. The per capita GDP is $65,515. In comparison to the world, Norway is ranked 9 for per capita GDP. The GNI, which stands for gross national income per capita, is $66,578. Norway 's economy is a mixed economy, with a vibrant private sector, a large state sector, and an extensive social safety. The government controls key areas, such as the vital petroleum sector, through extensive regulation and large-scale state-majority-owned enterprises (Factbook). Norway is the world 's third-largest natural gas exporter; and seventh largest oil exporter, making one of its largest offshore oil finds in 2011. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves state revenue from the petroleum sector in the world 's largest sovereign wealth fund, valued at over $830 billion in January 2014 and uses the fund 's return to help finance public expenses. After

The famous actress Jessica Alba co-founded a company called ‘The Honest Company’ in 2011. The company puts emphasis on non-toxic materials for everyday use. Everything that is labeled on the products is genuinely honest.

The purpose of this essay is to examine Norway from the perspective of its economic policies. I am trying to pay special attention to its recession resolution technique in order to understand better why this country could preserve itself against the most severe financial crisis of the last few decades. The reason why I picked Norway as a topic is because I lived half-a-year there as an exchange student. Apparently, I was there when the crisis was the most threatening to all the European countries (in the autumn semester of 2008). However, I did not notice huge changes in the

European Union membership has an affect on countries both political and economical aspects. For countries who become an EU member, substential changes in economic indicators can be observed as change in economic structure, change in monetary policies, new interaction with different counrtries, new trade agreements. In this essay, I will evaluate the economical impacts of EU membership on Finland in terms of price level and foreign trade. Finland joined the European Union in the beginning of 1995. In the 90‟s before being a member of EU, Finland experienced a recession. GDP declined more than 11 per cent, unemployment rate increased

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)

With the effect of the Single European Act on 1st July 1987, the emergence of European Union (EU) as a common market has essentially been created. The benefits of this act are substantial to European firms, economies, and workers. It eliminates conflicting national regulations and trade barriers, as well as offering firms opportunity to sell their goods to all other EU members (Griffin & Pustay 2005).