Economic And Monetary Union Of Europe. Includes Personal Comment

972 words - 4 pages

The main reason for creating a European Market was the growing international competitiveness. In the mid of the eighties the European countries recognized that in the long run the national economies alone won't be able to compete against countries like the US, Japan and the new industrial centers in East Asia. The biggest advantage of the European integration is the unique chance of causing significant economic growth in the member countries by abolishing all kinds of barriers e.g. customs controls, trade restrictions, liberation of the movement of capital, tax harmonization, and by the opening of the financial market, a common trade policy, a common service market, common legal protection ...view middle of the document...

Some people expect that in a Unified Europe the standard of living in the richer countries will decrease while the people in poorer countries will fare better. One professor of mine once said: "Somebody must pay for the European Integration. Most likely this will be the richer countries like us. It was the same with the German Unification". This shows that even some very educated people in Germany are skeptical concerning the new Europe. The light poll at the last election of the European parliament seems to be showing that the German population is not that much interested in Europe. The average worker/person if living in Germany or any other European country is not interested in politics anyway. Most people probably still can't see how a United Europe will affect them personally and therefore they don't care that much.I am convinced that most of Europe's population don't know what is written in the 1993 Maastricht treaty. To set the rules for a treaty like the Maastricht treaty is very difficult because the topic is very complex. On the one hand the inflation is well on target at the moment. But is a very low inflation always good for the economy? One reason why twelve out of fifteen European countries are on target might also be that there is nearly no economic growth. One the other hand should we raise the question if the finances of fourteen countries are not on target because of nearly no economic growth. No growth means lots of government expenses to support the economy. Aren't the two Maastricht's criteria a bit controversial?Because of the complexity of the Maastricht treaty I think it is right that the...

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