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    The European Union: Brief History

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    Catherine Lewis
    The European Union was formed after World War II to foster economic cooperation between European countries as a counterbalance to the United States and Soviet Union. It started as the European Economic Community in 1958 with six founding members and has since expanded to include 28 member states across Europe. The EU's key aims are to promote economic and political integration through policies like a common currency, open borders between members, and a single market without trade barriers. Major stakeholders include Croatia, which joined as the 28th member in 2013, and Brazil which has strong trade and investment ties to the EU as its largest partner. While the EU has brought economic growth and development to many members, challenges remain from differences between members and high barriers to non-members.

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    The European Union: Brief History

    Uploaded by

    Catherine Lewis
    43 views3 pages
    The European Union was formed after World War II to foster economic cooperation between European countries as a counterbalance to the United States and Soviet Union. It started as the European Economic Community in 1958 with six founding members and has since expanded to include 28 member states across Europe. The EU's key aims are to promote economic and political integration through policies like a common currency, open borders between members, and a single market without trade barriers. Major stakeholders include Croatia, which joined as the 28th member in 2013, and Brazil which has strong trade and investment ties to the EU as its largest partner. While the EU has brought economic growth and development to many members, challenges remain from differences between members and high barriers to non-members.

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    EU

    Original Title

    The European Union1

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    The European Union was formed after World War II to foster economic cooperation between European countries as a counterbalance to the United States and Soviet Union. It started as the European Economic Community in 1958 with six founding members and has since expanded to include 28 member states across Europe. The EU's key aims are to promote economic and political integration through policies like a common currency, open borders between members, and a single market without trade barriers. Major stakeholders include Croatia, which joined as the 28th member in 2013, and Brazil which has strong trade and investment ties to the EU as its largest partner. While the EU has brought economic growth and development to many members, challenges remain from differences between members and high barriers to non-members.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    43 views3 pages

    The European Union: Brief History

    Uploaded by

    Catherine Lewis
    The European Union was formed after World War II to foster economic cooperation between European countries as a counterbalance to the United States and Soviet Union. It started as the European Economic Community in 1958 with six founding members and has since expanded to include 28 member states across Europe. The EU's key aims are to promote economic and political integration through policies like a common currency, open borders between members, and a single market without trade barriers. Major stakeholders include Croatia, which joined as the 28th member in 2013, and Brazil which has strong trade and investment ties to the EU as its largest partner. While the EU has brought economic growth and development to many members, challenges remain from differences between members and high barriers to non-members.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    13/11/2013

    1
    The European
    Union
    By Theresa & Catherine
    Brief History
    Created in aftermath of WWII
    In order to foster economic cooperation
    European Union was formed as a counter balance to the
    US super Power
    as a result NAFTA was formed to again counter balance
    the EU.
    European Economic Community (EEC), created in 1958,
    and initially increasing economic cooperation between six
    countries: Belgium, Germany, France, Italy, Luxembourg
    and the Netherlands
    a huge single market has been created and continues to
    develop towards its full potential and now includes 28
    European countries that together cover much of the
    continent
    Key Aims
    The EU promotes economic, political integration
    of Europe through:
    A common currency (euro) in 16 member
    countries
    Freedom of movement between member
    states
    Trading market without frontiers
    Enlargement
    Development of common foreign, security
    policy
    All to create/ensure economic stability and
    growth
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    13/11/2013
    2
    Major Stakeholders
    In J uly 2013 Croatia became the 28
    th
    EU
    country
    Brazil European Union
    relations
    High volumes of bilateral trade and investment
    flows.
    EU Brazils main trading partner and largest
    investor
    Around 50%of the FDI flows received by Brazil
    during the last 5 years was originating from the
    EU.
    Brazil 5
    th
    largest investor into the EU
    The EU is Brazil's first trading partner, accounting
    for 21.7%of its total trade (2010). During the last
    5 years bilateral trade between the EU and
    Brazil has grown on average by 8.4%per year,
    showing the dynamism and complementarity of
    our trade relationship.
    Is the EU working?
    Advantages:
    There has been an increase in economic
    development in countries like Portugal, Spain
    and Ireland with growth in GDP since becoming
    apart of the EU
    Free trade and removal of non-tariff barriers
    have helped reduce costs and prices for
    consumers
    Free movement of labour and capital have
    helped create a more flexible economy
    Improved economic performance
    Improved HDI
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    13/11/2013
    3
    Cont.
    Disadvantages:
    high barriers on non-member states.
    differences national attitudes toward
    inflation, debt, and foreign trade
    There is large differences in the HDI and
    GINI index between many of the nations.
    Eg. 115 million people or 23.4%of the EU
    population live close to or below the poverty
    line.
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