Advantages And Disadvantages Of The European Union

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Internacional union
The euro it is not adopted by all the EU nations. There are 19 of the European Union’s member state, which together make up the Euro area. The introduction of the euro wasn’t long ago. In 1999 the euro was a big step in the integration (Ec.eruopa.eu). The EU members’ goal was to improve their economic and internal market with a single currency. They believe a single currency is more efficient and increase price transparency, eliminating currency exchanges costs, facilitating international trade and give the EU a more powerful voice in the world. Also, the Euro is a tangible symbol of European identity. I believe they want to rule the world by having a single currency. They trying to secure their own economic and get
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According, the web-site (econ. Economicshelp.org) the disadvantages of joining Euro are loss of independent monetary policy, difficulty in getting out of a recession, sensitivity to interest rates, and loss of independence of fiscal policy. The EURO interest rates won’t be set by their own back (MPC). The ECB look at the whole nations of Euro economy not what is best for the UK. The interest rates would drop a high percent, causing further boosts the buoyant Housing market and future inflationary pressures. If the UK suffered a recession they would be unable to cut interest rates, they won’t have any control in the interest rate. European countries most UK householder own their own house, their mortgage is a high percent of their income. So if they interest fall, they will not be reviving a high income from householders. Basically, if they UK join the euro could lead some serious economic problem. Below are listed advantages of being member of the …show more content…
Some people say that Norway, Sweden, Switzerland are better off than their Euro zone neighbors. Most the Switzerland population voted against being part of the European Union because of disadvantage, for example: adopting their laws. As well the Norway citizens decided not to be part of the Union. Sweden and Switzerland have a fared too; they grow the economy faster rates than EURO zone countries. Another reason why they are not joining the EURO Union is because, one country may have high unemployment, low productivity and severe economic problems while others is totally the

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