Pros and Cons of the European Union Essay examples

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Pros and Cons of the European Union

Do you think it is useful to join into a union especially the European Union to strengthen their economic positions? The question could be simple to answer but an individual must look much deeper into the situation. For instance, what are the pros and cons of joining a union? The European Union has many pros but also many cons.
The European Union was formed in February 1992 with the signing of the Maastricht Treaty. It consist of originally twelve members – Belgium, Denmark, France, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, United Kingdom, and Germany. Those twelve members originally formed the European Union until 1995 when three other countries joined the Union –
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By spending part of their education or training in another European Union country, the citizens can acquire an insight into other work environments and gain skills that are very useful in later life. By having a closer joint effort and sharing the experiences with other European countries will bring democratic traditions and modern way of living to the society of new member states. Also, with it being a single market, there are no barriers between the other countries. With the removal of custom barriers it will enable producers to cut production costs, which will result in export increases. In addition to this the integration into the European Union will encourage foreign investment. With encouraging foreign investment it will create new jobs and will bring new technologies and experience into East-central European industry and trade. The process of adapting to a single market may be difficult, but it is necessary for economic growth in the long run. European Union regional policy seeks to reduce social and economic differences between senior and new member states. That is saying the Union is trying to allow the newer member states to compete with the older member states. This helps to solve the problems of a transition period. (Venckute) There will also be lower interest rates. Why do you think there are going to be lower interest rates? Interest rates depend on the state of
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