Economics of Europe 2013 Lecture 2: The economic theory of integration and the EU customs union in practice This week we shall be looking at what impact the creation of the EEC/EU customs union may have had on trade patterns. But first we need to remind ourselves a little about the economic theory of trade. Gains from trade Countries trade with one another either to obtain goods that for some reason they cannot produce for themselves‚ or to obtain goods that another country can produce
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supply problem. Driven by the CAP‚ local farmers have great motivation to use the advanced farming techniques to enhance the productivity. With the technology advancement‚ domestic producers are able to increase the output. According to data from European Commission‚ the crop output grew 20.63% from 2001 to 2010. And other agricultural products also grew in a surprising speed. However‚ the market demand did not grow so rapidly as supply. Thus‚ the surplus exists. In 2007‚ the UK government stated
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Discuss the economic advantages and disadvantages to the UK of participation in the European single currency (Euro). Will British businesses be better or worse off if the country decides to participate? Introduction of Euro in the world’s monetary union is a milestone. Eleven countries were going to create EMU at the beginning‚ now there is a long queue to join in EMU. Most of the EMU members get more advantage then disadvantage to join in Euro. Euro creates a large market in the Eurozone. Three
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the European Integration Background – Intellectual context -‐ to understand the theories of European integration‚ it is important to consider the intellectual context from which the idea of European integration emerged Federalism – Altiero Spinelli -‐ -‐ -‐ -‐ -‐ Spinelli: leader of the European Union
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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
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with the European Central Bank being their central bank. The United Kingdom has decided to stay out of the European Union and stick with their currency of the Pound. Their central bank is the Bank of England located in London. Both of these countries are 2 of the biggest‚ most powerful countries in the European Union so they both have quite the impact on how the European Union behaves. Both France and the United Kingdom are members of the Economic and Monetary Union of the European Union. While France
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Tony Pinchot POSC339 Final Exam The European Union: Supranational or Intergovernmental? The European Union is a complex political body that is very difficult to summarize under simply one category. However‚ I believe the most important categorization to help explain the European Union and how it operates is whether it is viewed as a primarily supranational or intergovernmental organization. The main difference between whether the European Union is viewed as a success or failure hinges primarily
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NAFTA AND EUROPEAN UNION The NAFTA and the European Union comprising 27 countries constitute the largest trading blocs in the world. In 2008‚ the value of exports of goods and services from the European Union to the NAFTA region amounted to 450.2 billion Euros while the value of imports of goods and services to the European Union from the NAFTA bloc amounted to 362.1 billion Euros. For Canada the European Union is the second most important trade partner. In 2008‚ the exports of goods and services
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Political‚ economic and legal aspects in European integration issues. Communities. The first step in post-war integration was the European Coal and Steel Community (EC&SC)‚ the treaty signed in Paris on 18th April 1951 (entered into force on 23 July 1952. It expired in 2002. Another two fundamental treaties were signed in Rome in 1957 by the six original member states in order to form the European Economic Community - EEC and EURATOM Treaty (European Atomic Energy Community). These treaties
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of the EU William D. Smith ABUS 383 The European Union is a union of 27 member countries‚ that predominately operates in Europe. It had predecessors‚ however under the current name‚ it was founded in 1993 after the Maastricht Treaty. Since its founding‚ the EU has adopted many policies and regulations to theoretically make its members better off‚ however the current crisis does not reflect much positivity to this. So‚ how could the Europeans possibly overcome this current debt crisis?
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