A Report On The European Union Essay

1968 Words 8 Pages
The European Union contains just 7% of the world’s population, but produces 1/3 of the world’s Gross National Product (Delegation of the EU to the US). A single market merges all 28 countries of the EU into one economic free-trade zone with no trade tariffs imposed on one another. The EU accounts for 51% of all trade that the UK conducts with the world (The Data Team 2). Since its admittance to the Union in 1973, Britain’s economy has grown from 326 million Euros per capita to 6,116 million Euros per capita in quarter four of 2012. Despite its economic benefits, many have voiced concern over its undemocratic practices. In a summary of the court case Van Loos v. Netherlands Inland Revenue administration, the European Union decided to strike national laws not mentioned in the EU treaties, rendering the EU law superior to national law (Andrew 3). In response to the United Kingdom Independence Party and Eurosceptic criticisms of the EU, Prime Minister David Cameron has promised to hold the UK’s second referendum on whether or not to remain in the EU in the summer of 2017 (Pendrous 2). Based on these opposing views, one must ask: do the economic benefits offered through EU membership encroach upon the sovereignty of the British people? In order to better understand this issue, and to formulate an informed response to this question, it becomes necessary to investigate whether or not the economic advantages offered by the single market outweigh the autonomy taken from the United…

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