Economic Impact Of The European Union

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The European Union is an economic, social, and political union of 28 nations in Europe. Created in the aftermath of the Second World War, a union of European states was sought out and was believed to be the solution to the endless bloodshed that, fueled by the nationalist rivalries between its neighbors, had been ravaging the continent for more than a thousand years. Today, with the institution of the Treaties of Rome and Maastricht, the European Union uses the powers it has acquired from its member states to protect the rights of its citizens, which includes the highly criticized right of free movement of its citizens to any of its member states. The EU not only benefits its member states, but it is also holds a significant role for the United States as well, …show more content…
The EU safely ensures that the United States will never again have to fight another European war. Even in the years following the war, it was the support of European unity that was essential in the United States’ policy in keeping the USSR from capturing more nations into its communist regime. It is also worth noting that the high value of the euro also ensures that American made products can retail at lower prices and can effectively compete against foreign and domestic competition, which is important as the EU is currently the 2nd largest export market for the United States as of 2015. However, the United Kingdom’s exit, or Brexit, is on the verge of causing another major decline in the U.S economy, and the global economy as a whole. Brexit will also greatly impact Scotland, which receives major benefits from the EU, and Northern Ireland, which has greatly relied on the free movement policy for bringing on a major increase its tourism industry. Forced removal of Scotland and Northern Ireland from the EU can very well bring about the end of the United Kingdom as we know

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