preview

The European Union ( Eu )

Decent Essays
The European Union (EU) is an intergovernmental union of European states composed of 28 countries. The EU’s emphasis is to encourage economic and social harmony between nations.
There are advantages of being part of the European Union such as assurance of worker’s rights, low-cost of products and free movement. Despite the benefits, the EU has caused countries to expend a high amount of money on the membership and it has also lead to overpopulation and inequality between big and smaller countries. The European Union was created with the aim of preventing wars between European countries. In 2012, the EU won the Nobel Peace prize due to the contribution to peace and reconciliation in Europe. Being part of the EU not only avoids conflict
…show more content…
With these conveniences, citizens have better work and education opportunities. The EU have created their own currency, there euro. Currently, 18 out of 28 European countries have adopted the euro. Adopting a single currency for all the members of the EU is vital for a unified society and for the elimination of fees implicated in currency exchange. It also facilities business transactions and traveling through Europe. In addition, a single currency promotes economic equality between all the counties when obtaining supplies. Currently, the prices of cars in the United Kingdom are overprice compared to any other places. Implementing the euro throughout all Europe would reduce the price disparities, eliminate exchange rates, create unity among countries and improve the economic growth. Above all, the EU also brings economic and political disadvantages. Being a member of the European Union is expensive. The cost varies from £300 and £873 per head of every country. The issue is that countries such as the United Kingdom pay more than what they get back from the EU budget. Their cost of membership is £15bn gross or £6.883 billion net (Disadvantages of EU Membership). Around 40% of the money is spend toward the Common Agricultural Policy (CAP) and had resulted in high price of goods and oversupply. Due to this issues, the EU had to purchase the surplus which resulted in a huge lost of money. In addition to the amount of money that is being spent, much
Get Access