Lecture 19&20 - Integration in the EU

Lecture 19&20 - Integration in the EU - EU European...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
E U European Union - Has a population of 489 million and a GDP of $13 trillion, with 27 members A. 6 total members (1958) B. 9 total members (1973) C. 12 total members (1980’s) D. 10 new members (2004) – low income countries - Unlike NAFTA the EU is still growing - Not all members of the EU use the common currency the Euro, the ones that do not are using the British National Dollar - Turkey is interested in joining the EU, but there has been controversary about letting them join; mainly due to the financial stability of Turkey - To join the EU countries must meet the following: 1. Stable democracies 2. Market-based economies 3. Willing to adapt to EU rules Evolution of the EU - Previously known as the EEC (European Economic Community) which came into existence because of the Treaty of Rome in 1957 - Before the Treaty of Rome, there was the European Coal and Steal Community (1951) - The allies in Europe took control of the Ruhr Valley as they did not want to give control to Germany - Germany felt that once the war was over they would get back there land, as they believe that a part of their land is still being ruled by foreign countries
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
E U - Robert Schuman decided what would happen with this land that was claimed to be a part of Germany - France, West Germany, Italy, Netherlands, Luxemburg and Belgium joined the European Coal and Steal Community; they formed a common market with common relations that applied to these industries only - In 1973 Britain, Denmark and Ireland joined the EU making the six nine Views of the EU 1. Loose federation – a basic trade liberalization where countries operated equally 2. Gradual transfer of Sovereignty – “functionalism” - The EU is more centralized than Canada - Subsidiarity – the EU as a whole should have authority over issues that are more effectively handled at the international level (environmental, regional development, research and development, common currencies, common labour,
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/18/2008 for the course ECONOMICS ECN 220 taught by Professor Jolly during the Winter '08 term at Ryerson.

Page1 / 6

Lecture 19&20 - Integration in the EU - EU European...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online