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13/11/2013

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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
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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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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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