European Union.docx - European Union(started as trade block 27 states in its membership GDP of $16-17 trillion = biggest economy on the planet A US of

European Union.docx - European Union(started as trade block...

This preview shows page 1 - 2 out of 4 pages.

European Union (started as trade block) - 27 states in its membership - GDP of $16-17 trillion = biggest economy on the planet - A US of Europe? Why Europe? = WAR! - the spark made the thinkers think how can we not have WW3? - form an economic union = cost both parties money to fight each other - 1951-2 = destroyed after WW2 - need energy and steel to rebuild everything "let's work together" - ECSC 1951: economic union to control (share) resources (trade) - original 6 (European core) = France, Germany, Italy, Belgium, Netherlands, Luxembourg - 1957: merged the ECSC with Atomic Energy Agency - let's open trade = lower tariff (EEC1957) - 1993 changed name to EU - common currency, economic policies, political unions (Parliament), military procedures Why is the EU still growing? = More Money! (lower tariff = more trade = more money) Why do the rich countries want to stay in? = they all want to get richer AND if they go alone, can't compete with other stronger countries (US, China, Japan) - Free movement of goods and services - virtually no tariffs
Image of page 1
Image of page 2

You've reached the end of your free preview.

Want to read all 4 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes