POLITICAL ECONOMY OF THE SINGLE EUROPEAN MARKET - Essay Example

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POLITICAL ECONOMY OF THE SINGLE EUROPEAN MARKET

195 billion budget was prepared by the European Union for the purpose of Structural Funds from the period of January 01, 2000 to December 21, 2006.
This allocation of the budget was used in different sectors, especially the transport sector, and poorer regions of the continent were supported and integrated with different developing schemes of these structural funds. On the other hand, the budget for the Cohesion Fund was allocated to the amount of 18 billion, which was also used for different schemes and allocations in the European Union. (Halkier, 2004)
In this regard, the major amount of the European Union's funding is spent on the Structural Funds, and the bulk of European Union's funding is made up these structural and cohesion funds. In addition, the Common Agricultural Policy is also included in the bulk of European Union's funding along with the abovementioned funds. (Artis, 2006)
The areas and regions of the European continent, which are under the pressure of various difficulties are helped and supported by the European Union's Structural Funds. The decline of the local European industry could be the reason of these difficulties. ...
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Summary

Two related purposes are aimed by the European Union, which allocates funds that are referred as Structural Funds and Cohesion Funds. In this regard, poorer regions of the Europe are supported by these funds, which play a vital role in developing and enhancing the European continent in various perspectives…
Author : rmorissette

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