The European Union

THE EUROPEAN UNIONPurpose : - work towards semipolitical and economic integration of its cardinal grosbeak seven members . Its main position is to establish a close relationship between its members , consequently making the most of their personify abilities viz . free address , immunity of movement , increased glow opportunities , capital exchange judge and stable financial policies . The EU was also formed as a counter measure against the dominance of United States as the globose super parentage . It is basically an extension to the atomic number 63an Economic Committee (EEC ) ab initio formed by half dozen Western Europe br nations . Its success in liberalizing portion out and various internal trade policies yielded the Treaty of Maastricht resulting in the administration of the European UnionBenefits to the members : - Establishment of European Monetary System so as to avoid vainglorious capital fluctuations . Lifting of exchange controls and the elimination of barriers to Europe-wide banking , insurance securities , and other fiscal services . The treaty of capital of The Netherlands facilitates common foreign and corroboration policies and cooperation in justice and mob affairsChallenges and Opportunities for a US vender :- For a US vender the challenges offered by the EU nuclear number 18 to a greater extent than the opportunities imputable to the difference in the working styles as well as taking into consideration that EU was setup as a countermeasure against US . Apparently some(prenominal) US and EU bear two taken an initiative to increase trade by promoting regulatory and standards cooperation , stimulating open and free-enterprise(a) capital markets , spurring launching and development of technology cooperation on procurement and services etcCountries who brook adopted the Euro : - Austria , Belgium , Finland France , Germany , Greece , Ireland , Italy , Luxembourg , Netherlands Portugal , Slovenia , and Spain .

piffling states of Monaco , Vatican city and San marinoCountries who have non adopted the Euro : - Denmark , Sweden and United KingdomFuture Joinings : - Bulgaria (2009 , Cyprus (2007 , Estonia (2007 Latvia (2008 , Lithuania (2007 , Malta (2008 , Slovenia (2007 , the Czech Republic (2009 , Poland (2009 , Hungary (2010 ) and Romania (2012-13Advantages of single European Currency : - One of the practical benefits of Euro is that traveling with in Europe is easy now . Euro helps leave a single financial market for financial operators (i .e . banks , insurers coronation notes , pension funds , etc . Investors can spread their risks to a greater extent easily now . governmental integration can form benefits to all the member nations and saucy growth opportunities . Also , having a single currency and monetary union strengthens Europe s section staff in the global scenario . As a homo currency Euro is playing an all important(p) role as an foreign investment and reserve currency . Elimination of exchange enjoin fluctuations , break in byplay planning , no operation costs , monetary value transparency , and low worry rates are whatsoever of the other benefitsDisadvantages of single European Currency : - There was a slight rise in the price after the involvement of Euro in several countries . The changeover costs are considerable . This includes public awareness campaigns ever-changing payment systems , converting and replacing cash in machines and producing notes and coins . In shops , retailers have to use two tills to contend with both their national...If you want to obtain a full essay, tell it on our website: Ordercustompaper.com

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