The costs of joining the EU
There are also many disadvantages too:
-They argue that the trade cycles of the countries from the EU may not be sufficient enough to be in line with each other to support a single interest rate.
-Members of the EU have also got to pay an amount each year towards the EU budget. This can be a disadvantage, as it will decrease their budget for the country.
-Domestic firms may suffer from competition because companies may trade with other countries.
-There are worries that EU integration will cause a loss of economic control, as it will lose individual countries’ identity, especially if they join the EURO as well.
Countries in the EU
Belgium 1957, France 1957, Netherlands 1957, Germany 1957, Italy 1957, Luxembourg 1957, Denmark 1973, Ireland 1973,UK 1973, Greece 1981, Portugal 1986, Spain 1986, Austria 1995, Finland 1995, Sweden 1995, Hungary 2004, Poland 2004 ,Czech Republic 2004, Slovak Republic 2004, Slovenia 2004, Estonia 2004, Latvia 2004, Lithuania 2004, Malta 2004 ,Cyprus 2004
What's EU Enlargement?
On the 1 May 2004 the EU grew from 15 to 25 members.
This was the largest growth of the Union since it begun.
There were a lot of news stories in the UK about whether or not the enlargement would benefit the UK. Some people were worried that workers in the new member states would move to Britain to get better-paid jobs.
The Euro
The euro is the single currency of the European Monetary Union, which was adopted by 11 Member States from 1 January 1999. The 11 Member States are Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland. Greece became the 12th Member State to adopt the Euro on 1 January 2001. The name "euro" was chosen by the European Heads of State or Government at the European Council meeting in Madrid in December 1995.
The EU History
1952 Six countries - Belgium, France, the Federal Republic of Germany, Italy, Luxembourg and the Netherlands - create the European Coal and Steel Community (ECSC) by pooling their coal and steel resources in a common market controlled by an independent supranational authority.
- The Rome Treaties set up the European Economic Community (EEC) and the European Atomic Energy Community (Euratom), extending the common market for coal and steel to all economic sectors in the member.
Countries.
1973 The United Kingdom, Ireland, and Denmark join the European Community (EC).
1979 The European Parliament is elected, for the first time, by direct universal suffrage and the European Monetary System (EMS) becomes operative.
- Greece becomes the 10th member state.
- The program to complete the Single Market by 1992 is launched.
1986 Spain and Portugal become the 11th and 12th member states.
1989 The Madrid European Council launches the plan for achievement of Economic and Monetary Union (EMU).
- Treaty on European Union signed in Maastricht and sent to member states for ratification. First referendum in Denmark rejects the Treaty.
- The EU and the 7-member European Free Trade Association (EFTA) form the European Economic Area, a single market of 19 countries. The EU completes membership negotiations with EFTA members Austria, Finland, Norway and Sweden.
- Austria, Finland and Sweden join the Union on January 1. Norway fails to ratify accession treaty. EU prepares the 1996 intergovernmental conference on EU institutional reform.
2004 Ten more countries joined. Most of them are from Eastern Europe. There are now 25 members.
2007 Two other countries are due to join bringing the total to 27
The future of the EU
I am pretty confident that more policies will be made within the EU. I think people will become even more worried about our environment and will make more rulings and laws that help protect the earth. Maybe new rulings will be introduced now about global warming etc. What about some rules about tourism? Perhaps some rules will be got rid of? If countries start to find it hard to keep to policies or complain and want the altered then maybe the EU will abolish them.
Facts
- As one of the world's largest trading powers, and as a leading economic partner for most countries, the EU is a major player on the world scene. Its scope for action extends increasingly beyond trade and economic questions.
- More than 130 countries maintain diplomatic relations with the EU, and the EU has over 100 delegations around the world.
- With 390m relatively high-income consumers, the EU is the most important consumer market in the world.
- The EU enjoys a close relationship with the countries of Central and Eastern Europe (so-called CEECs). The EU is spending almost $9 billion over five years to help prepare nine CEECs to prepare for EU membership. Since their independence in 1989, the EU has concluded trade and cooperation accords with most CEECs and has been at the forefront of the international effort to assist them in the process of economic and political reform.
- The EU is also strengthening its links with the Mediterranean countries, which will receive some $6 billion in EU assistance over the next five years.
- The EU maintains special trade and aid relationships with many developing countries. Under the Cotonou (formerly Lomé) Convention, virtually all products originating from 77 ACP (African, Caribbean and Pacific) countries enjoy tariff-free access to the EU single market, as well as a stable export earnings program (STABEX) and considerable financial aid.
- The EU is the largest donor of the humanitarian aid to the victims of the conflict in former Yugoslavia and has played an active role in the mediation effort.
- Through trade, the economies of the individual members are increasingly dependent upon each other.
- The EU had a 40 percent share of world exports in1997; it nearest rival, the North Free Trade Area consisting of the USA, Canada and Mexico had 17 per cent.
