The Success of the European Union

1914 Words Jun 27th, 2008 8 Pages
European Union became a very successful organization helping countries recover after wars as well as boost their economy and standard of living. At first the goals of the European Union where to unite fighting neighbours, now it is about uniting all European countries to preserve their culture and become a one big “family”. Looking at the quality of life in Europe I believe that the European Organisation has successfully achieved more than the goals that they have set. Rich countries set examples for poorer countries- which with a little bit of help manage to reach their level. European Union was created by Belgium, France, Germany, Luxembourg, the Nederland and Italy in 1950 right after the WWII. They came together in order to create …show more content…
Another major success that the European Union has achieved is bringing to life “The euro” which is the single currency shared currently by 15 of the European Union's Member States, which together make up the euro area. The introduction of the euro in 1999 was a major step in European integration. Around 320 million EU citizens now use it as their currency and enjoy its benefits, which will spread even more widely as other EU countries adopt the euro. The euro is not the currency of all EU Member States. Two countries (Denmark and the United Kingdom) agreed an ‘opt-out’ clause in the Treaty exempting them from participation. The euro was created because a single currency offers many advantages and benefits over the previous situation where each Member State had its own currency. Not only are fluctuation risks and exchange costs eliminated and the single market strengthened, but the euro also means closer co-operation among Member States for a stable currency and economy to the benefit of us all. The benefits of the euro are diverse and are felt on different scales, from individuals and businesses to whole economies. They include:
• More choice and stable prices for consumers and citizens
• Greater security and more opportunities for businesses and markets
• Improved economic stability and growth
• More integrated financial markets
• A stronger presence for the EU in the global economy
• A tangible sign of a European identity

Many of these benefits are

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