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European Union
7 percent
Population
Of World
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HISTORY
1951 European Coal and Steel Community In the aftermath of World War II, the aim was to secure peace among Europes victorious and vanquished nations and bring them together as equals, cooperating within shared institutions.
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HISTORY
1957
Treaty of Rome
The six founding countries expanded cooperation to other economic sectors, creating the European Economic Community (EEC) or common market. As a result, people, goods, services, and capital today move freely across
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HISTORY
The treaty created the EURO Created the pillar structure of EU Created the EU Institutions required to monitor it
European Commission European Parliament European Court of Justice European Central Bank
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HISTORY
1951 Founding Members Belgium France Germany Italy Luxembourg Netherlands
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HISTORY
1973 Denmark Ireland United Kingdom
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HISTORY
1981
Greece
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HISTORY
1986 Portugal Spain
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HISTORY
1995 Austria Finland Sweden
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HISTORY
2004 Cyprus Czech Republic Estonia Hungary Latvia Lithuania Malta Poland Slovakia Slovenia 4/28/12
HISTORY
2007 Bulgaria Romania
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HISTORY
Candidate Countries Croatia Former Yugoslav Rep. of Macedonia Potential Candidate Countries Albania Bosnia & Herzegovina Montenegro Serbia incl. Kosovo
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EU Institutions
European Commission
27 Commissioners,
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EU Institutions
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EU Institutions
European Parliament
Voice of European citizens members elected for five-year terms. With the Council, passes EU laws and adopts EU budgets. Approves EU Commissioners.
EU Institutions
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Europe an
The uro
In 1999, the euro area was established as a currency in eleven of the then fifteen EU Member States. Of the 27 EU Member States today, sixteen have adopted the euro. One of the striking benefits of a single European currency are low 4/28/12
Euro Project
Sustained non-inflationary growth Lower long term interest rates Higher rates of investment Lower unemployment Expansion of the EU single market
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Flexibly applied for original Euro members but more strictly applied in the case of new member states Inflation:
Average inflation over previous year must not exceed by more than 1.5% that of the three lowest inflation countries Budget deficit must not exceed 3% of GDP Gross government debt must not exceed 60% of GDP yield on govt bonds must not exceed
Government Finances
Interest Rates:
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Single Market
To make it an economic superpower Member states got rid of trade obstacles Economy of scales was achieved Barriers removed of movement of
PROJECT
GDP Existing Debt Annual Deficit Inflation Interest rate Population Contribution to GDP Deficit contributor
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Project
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