It was high time for the European nations to think of a better and bloodshed - free future. It was in the year of 1951, when six European nations namely Germany, France, Italy, Netherlands, Belgium and…
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The success of Coal and Steel Treaty led to the Treaty of Rome where the European Economic Community (EEC) or ‘common market’ as it was commonly known, created a freeway through which people, goods and services could freely move across the international borders (Europa, n.d.).
It was a landmark decision as now people within EEC countries could move without passport and custom duties will not be levied on goods and services, even farmers were paid the same across the Community, giving a joint control over the production of agricultural products. The only drawback was the surplus production. The problem arose with different currencies prevailing in different countries, and for an economic stability the requirement for a single currency was increasingly felt. In the year 1973 Denmark, Ireland and the United Kingdom also joined European Community (EC). In 1992, The Treaty on European Union is signed in Maastricht, which has been a major EU milestone as it set clear rules for the future regarding single currency, foreign and security policy as well as closer cooperation in justice and home affairs. Under the treaty, the name ‘European Union’ (EU) officially replaced that of ‘European Community’.
In the year 1999, the Euro (the common currency) was officially introduced in 12 countries namely Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland adopted Euro as their currency while Denmark, Sweden and the United Kingdom decided not to take it up as of, for then. As their foreign and security policy, the EU takes on peace-keeping operations by replacing NATO units in the Balkans, Yugoslav Republic of Macedonia, and then in Bosnia and Herzegovina. It was a strategic victory of their combined military power. Slowly and gradually EU was becoming a formidable force to reckon with. On December 2007 the Treaty of Lisbon was signed to amend all previous ...
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This essays analyses the progress of the EU by observing actual integration and the changes, taking place in the economic and political structure. The EU’s political and economic structure, made up of the three primary economic segments^ services, industry, and agriculture, is shaped by market processes and controlled by national administrations.
The decision concerning economic integration is often regarded as a major consideration in the European Union (EU) which tends to facilitate to build an effective and rigorous framework of monetary practices of the member nations. It is principally recognized as a form of integrating monetary standards which has been witnessed to facilitate the member nations to independently develop their economic stability.
European integration has seen the light of the day through European Union, as well as the Council of Europe. European integration can be credited for numerous achievements within the last sixty years with prominent accomplishments being the creation of an internal market where people, goods, services, and capital can move freely (Topan 2001, p.30).
The alternative debates embrace a number of new aspects of integration within the EU which entails a number of insights. These include a different analysis from that of "new monetarism" (see Arestis and Sawyer, 1998), new objectives for economic policy to include employment and growth, and new institutions to reduce various kinds of disparities across the EU.
This perhaps, can be termed the greatest single accomplishment the integration of European States has accomplished (John Gillingham, p.xi, Preface, 2003).
Since its inception in the 1950s, the integration of the States in Europe has witnessed changes that can be best described in four parts.
This essay mainly focuses on the characterization of the current level of political and economic integration among member countries of GCC. It also exposes major hindrances on the path of such integration, that become apparent in the countries of GCC. A belief that globalization creates world peace is supported by the countries of the union.
uture of the European continent will hold closer cultural and economic integration where the culture of Europe as well as the economy of Europe will take precedence over local cultures and laws. At the same time, it can be said that economic integration will bring cultural
The alternative debates embrace a number of new aspects of integration within the EU which entails a number of insights. These include a different analysis from that of "new monetarism" (see Arestis and Sawyer, 1998), new objectives for economic