Pros and Cons of the European Union
Do you think it is useful to join into a union especially the European Union to strengthen their economic positions? The question could be simple to answer but an individual must look much deeper into the situation. For instance, what are the pros and cons of joining a union? The European Union has many pros but also many cons.
The European Union was formed in February 1992 with the signing of the Maastricht Treaty. It consist of originally twelve members Belgium, Denmark, France, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, United Kingdom, and Germany. Those twelve members originally formed the European Union until 1995 when three other countries joined the Union …show more content…
The interest rate is so important in all this that is said. It is only going to effect the growth and unemployment reduction, if the interest rate is at the high rate level it will produce nil growth and high unemployment. (Nieboer)
The information below will discuss the cons of the European Union. Many people think the membership of the European Union is a guarantee of democracy, political stability and economic progress. Well, I have news for everybody that membership in European Union does not guarantee success. Here is an example on how it did not guarantee that success that they were talking about. "The progress of Ireland was mostly determined by the political efforts of its national government. It is important to stress that this time the extent of EU enlargement far outweighs previous stages and the level of European integration is higher. Hence current prospective entrants will not have such auspicious conditions for adoption."(Venckute) One of the biggest problems of the European Union is the single market rate. Controlling the interest rate is a very powerful weapon to try to balance with the many different economic cycles with only just one interest rate. (Niebor) Also, membership in the European Union will become a challenge for the national identity of its new member states, because the free movement of people can eventually result in cultural mixture. This then will result in the social and economic gap between