The European Union ( Eu ) - 1450 Words

The European Union (EU) is an intergovernmental union of European states composed of 28 countries. The EU’s emphasis is to encourage economic and social harmony between nations. There are advantages of being part of the European Union such as assurance of worker’s rights, low-cost of products and free movement. Despite the benefits, the EU has caused countries to expend a high amount of money on the membership and it has also lead to overpopulation and inequality between big and smaller countries. The European Union was created with the aim of preventing wars between European countries. In 2012, the EU won the Nobel Peace prize due to the contribution to peace and reconciliation in Europe. Being part of the EU not only avoids conflict†¦show more content†¦With these conveniences, citizens have better work and education opportunities. The EU have created their own currency, there euro. Currently, 18 out of 28 European countries have adopted the euro. Adopting a single currency for all the members of the EU is vital for a unified society and for the elimination of fees implicated in currency exchange. It also facilities business transactions a nd traveling through Europe. In addition, a single currency promotes economic equality between all the counties when obtaining supplies. Currently, the prices of cars in the United Kingdom are overprice compared to any other places. Implementing the euro throughout all Europe would reduce the price disparities, eliminate exchange rates, create unity among countries and improve the economic growth. Above all, the EU also brings economic and political disadvantages. Being a member of the European Union is expensive. The cost varies from  £300 and  £873 per head of every country. The issue is that countries such as the United Kingdom pay more than what they get back from the EU budget. Their cost of membership is  £15bn gross or  £6.883 billion net (Disadvantages of EU Membership). Around 40% of the money is spend toward the Common Agricultural Policy (CAP) and had resulted in high price of goods and oversupply. Due to this issues, the EU had to purchase the surplus which re sulted in a huge lost of money. In addition to the amount of money that is being spent, muchShow MoreRelatedEuropean Union ( Eu )1648 Words   |  7 PagesEuropean Union The European Union (EU) is a politico-financial union of 28 part expresses that are found predominantly in Europe. The EU works through an arrangement of supranational foundations and intergovernmental-arranged choices by the part states. The establishments are: the European Commission, the Council of the European Union, the European Council, the Court of Justice of the European Union, the European Central Bank, the Court of Auditors, and the European Parliament. Every five yearsRead MoreThe European Union ( Eu )1524 Words   |  7 PagesINTRODUCTION: The European Union (EU) is a political and economic partnership that represents a unique form of cooperation among 28 member states. Formed through a series of binding treaties, the Union is latest in a process of integration begun after World War II in Europe to promote peace and economic prosperity. Its founders hoped that by creating specified areas in which member states agreed to share sovereignty firstly in coal and steel production, economics and trade, and nuclear energy, itRead MoreThe European Union ( Eu )1509 Words   |  7 PagesIn this essay I will discuss why and how the European Union (EU) was set up and the advantages and disadvantages of membership. The EU was set up after World War II in 1939- 1945, bringing harmony and peace among the EU. 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The context in which the EU has developed has caused it to be unique in comparison to all the others and through this essay I will demonstrate how the characteristics and functions of the EU are found to be those only associated with the EU. Creating EU Law The European Union has aims which are to promote peace, maintain its values and maintainRead MoreThe European Union ( Eu )1396 Words   |  6 PagesThe European Union (EU) does not have an unlimited power to act. The limits of Union competences are governed by the principle of conferral. Under the principle of conferral, the Union shall act within the limits of the competences conferred upon it by the Member States (MS) in the Treaties. The central debate about competence is with regard to the principle that the EC operates within the confines of attributed powers tends to be obscured by an open-handed reading of the matter in practice. TheRead MoreThe European Union ( Eu ) Essay1264 Words   |  6 PagesThe European Union (EU) was created when the Maastricht Treaty, or now known as the Treaty on European Union, was signed in the early 1990’s. The document marked an essential milestone in the success and development of many European countries. It paved the way for many ot her future treaties and it also created the EMU or the European Monetary Union (â€Å"Europe Without Frontiers†). Though there were other economic European federations prior to the EU, the EU has by far been the more prosperous one.