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Unformatted text preview: i. EU 1. European parliament, court of justice, court of auditors, council of the European union, European commission (in a triangle) ii. EFTA 1. NA 3. What level of integration does the trading block have a. Defend i. EU 1. Started as Free trade, industrial 2. Currently, Economic Union ii. EFTA 1. Free trade 4. advantages or achievements of the groups a. EU i. Created the euro, single currency ii. Harmonized regulations, strive for lower barriers b. EFTA i. Created the EEA to cooperate on trade matters and other areas, including the environment, social policy, and education 5. Disadvantages a. EU i. With the single currency it eliminates financial gains to Europe up to .5%GDP ii. Makes it difficult to charge different prices in markets in the other countries iii. Shoppers feel the need not to travel for expensive items b. EFTA i. small...
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- Spring '08