The atomic number 63an Union is a union between 27 member states established to nurse economic and policy-making adept between them. It was originally formed as an organization of vi countries after World War II in carve up to encourage the rebuilding and recovery of the European economy. On January 1, 1999, the Euro was select by 11 of the member countries as a ballpark currency to further encourage economic integration deep down the EU. The adoption of the Euro as a common currency throughout the region was encouraged by two main goals: to foster economic growth between its members and thus improve Europes economic position in the world securities industry, and to integrate the EU market by eliminating the trade barrier of an uncertain exchange rate between the legion(predicate) different European currencies. Today, the Euro is used by 16 of the 27 members states of the EU (the Eurozone) as well as EU international institutions and as the fleck largest reserve currency in the world, it has an important position in the world economy today (Krugman 565-572).
There are many motives that may drive a nation to seek membership in the EU.
By becoming a member of the EU Single Market, both businesses and consumers alike have experienced trim back costs and higher efficiency in trade out-of-pocket to decreasing border controls and trade barriers (National Archives). This change magnitude integration of EU members has led to higher economic growth, increased competition, and a market characterized by the free flow of goods, services, financial assets, and people. Due to the EUs increased integration, the EU is now the worlds single largest internal trading market. It has also resulted in political stability, a reduction of wars, and unified policies on a gigantic range of social issues. These many benefits have encouraged increasing membership in the union, and it will undoubtedly continue this intention of expansion in the future.
II. Sovereign Default Risk, Levels of Integration, and Why These Countries tolerate High...If you want to get a full essay, order it on our website: Ordercustompaper.com
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