European Union

The European Union was created in 1958 providing interregional affair barriers, a normal external tariff against other countries, a Common country Policy and guarantees of free movement of labor and capital. The EU is once called the European Community, and became known as the EU in January of 1994. The EU currently consist of 15 countries (Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Sweden, UK) that all substantiate adopt the same currency known as the Euro. The near emerging of the EU shows expansion by adding countries from southern and Eastern European Countries. The advantages and disadvantages of get together the EU are very interesting, and seem to realize countries more than harm most of them. The first advantage of joining the EU would is that each member has their own financials systems, except look at the same currency, the Euro. With a single currency price similes do not exists, resulting in fewer market segmentation (Tavlas, Benefits and be of Entering the Eurozone). A single currency allows for buyers to engage comparison shopping which may produce one disadvantage, more competition.

another(prenominal) advantage of a single currency is the more widely a currency is used, the more useful it becomes in trade because often having different currencies can act as a barrier in trade. With more trade options for countries there may also come some other obstacles, but as a result of more trade, usually comes better economies. In such economies as Greece, Spain, and Portugal improvements of macroeconomic conditions and emerging new markets have changed the patterns and behaviors of the business communities, as interest rates for investment loans declined hugely and new markets for capital became available (Bartzokas, Investing in Southern Europe). Finally for the members of the EU the fear of recession usually exists, but the Maastricht Treaty provides these countries with a safety... If you want to get a generous essay, order it on our website: Orderessay

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