The European Union ( Eu )

1264 Words Nov 27th, 2016 6 Pages
The European Union (EU) was created when the Maastricht Treaty, or now known as the Treaty on European Union, was signed in the early 1990’s. The document marked an essential milestone in the success and development of many European countries. It paved the way for many other future treaties and it also created the EMU or the European Monetary Union (“Europe Without Frontiers”). Though there were other economic European federations prior to the EU, the EU has by far been the more prosperous one. The EU was created to help unify Europe after WWII ended. With the signing of the Maastricht Treaty, a central banking system was created, which would eventually set up the creation of the Euro (the currency currently used in most of Europe). There are both ups and downs to the European Union as the world has seen with the latest news on Britain leaving the federation. With England out of the European Union, the world will suffer enormous global economic ramifications.
The EU had a lot of good promise when it was first formed; for example, it helped unify Europe after the war and led to the creation of the Euro. The Euro is still used today as a current monetary system throughout Europe. However, there are some downsides to being involved in the economic organization. A prime example would be there are inefficient policies. One that comes to mind would be the Common Agricultural Policy. This policy’s “aim [is] to break the link between subsidies and production, to diversify the…

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