European Economic Area

in order to determine whether the United Kingdom should stay as part of the European Union (the EU) or leave the international organisation. The United Kingdom and the EU have an interesting history with many disagreements over institutions. This then caused a national identity crisis as to whether the United Kingdom wants to class itself as being ‘European’. This is relevant to the main argument for exiting the European Union (an event called ‘Brexit’) in the idea that the United Kingdom would…

Briton exiting the European Union It is half past five in the morning September the fifteenth and people are anxiously waiting for Nigel Farage. Around six, a black jeep slowly pulled in front of the BBC TV station in Westminster. The driver of the car walked out from his seat and took few steps towards the left side of the passenger door. As soon as the driver swung open the passage side, Nigel Farage a middle aged man with gray hair and a bank clerk 's suit walked out of the car and…

As we know parliamentary sovereignty is very important within the UK law. To express the importance, parliamentary supremacy means that parliament has unlimited legal power to act within any law without external restraint. In R V A-G 2006, Lord Bingham described this as the bedrock to the british constitution. Parliamentary supremacy came into the UK in 1689. This was after King James II had tried to use Royal prerogatives to favour the catholics. William of Orange and Mary did not approve and…

muddles through while continuing its fight toward banking and fiscal integration. In other words, the European Union will keep doing business as usual where the European Institutions will keep doing very little to resolve crisis with increasing chances to respond too late to some emergencies. In this future scenario, the southern European countries will still need bailouts and the monetary and economic union will remain incomplete. The Union will start losing competitiveness against the United…

system of rules and procedures that involves the business of running an organization. The rules deal with imports, local manufacturing, and taxation. Under German law imports are subject to tariffs if they are not from countries from within the European Union. This tax rate adds 19% to domestic products and must be paid to the German Customs Authority. The only good part about this tax is that the tax can be deducted as a “input tax. ” Furthermore, under imports is the complex trade barriers…

Impact of Brexit on Britain and Eurozone European Union (EU) members are part of the custom’s treaty that ensures that there no tariffs on the movement of people or goods within member states. Nonetheless, there is a common tariff applied on goods and services entering EU. The union does not allow any member to function under independent trade policy, for instance forming trade agreement with other countries outside EU without informing the union (Miller 22). The multilateral or the bilateral…

The Finance Minister of France, The terrible economic condition of Greece calls for the necessity of a debt relief to be given to its government in order for the country’s administration and economy to be sustained. France will support for the debt relief to Greece. The French government will address the need for an extension of the debt payments to a later period of time as well as cutting the high interest rate that the Greek government needs to repay its creditors. The French government…

The European crisis has affected numerous individuals over the years, and still continues to affect several of them. As stated in the article “Why did the Crisis happen?” It all began “When a slowdown in the US economy caused over-extended American homeowners to default on their mortgages, banks all over the world with investments linked to those mortgages started losing money.” (2014) Our fourth largest bank in America collapsed, and other banks feared the same would happen to them. As a…

proposes that there are natural stages of economic development that all societies go through from undeveloped to advanced,” (Little & McGivern, 2013, p.560). One of the criticism of the modernization theory is that, “ widely varying degrees of development observed globally have less to do with natural stages of development and more to do with relations of economic exploitation and geopolitical power, especially those structured by the legacy of the periods of European colonization and American…

Kingdom voted to leave the European Union on June 23. Throughout history, nations that have strived for independence have created instability in their states. Nationalism within these countries has escalated in times of instability towards ultranationalism in which nationalism is excessive to the point of harming another nation, causing historic events such as WW1 and WW2. The pursuit of peace and economic growth after this era of horror has led to the creation of the European Union in which…