Explore BrainMass

Explore BrainMass

    European Union

    The European Union is a political and economic union comprised of twenty-seven member states, located mostly in Europe. It was created during the aftereffects of the Second World War and had the objective of creating economic cooperation so countries who trade with each other can be interdependent. In 1958, the European Economic Community (EEC) was created and fostered economic collaboration between Belgium, Germany, France, Italy, Luxembourg, and the Netherlands. The EEC began to expand into assisting in policy, including issues in the environment and development aid. In 1993, the EEC changed its name to the European Union (EU)¹.

    The EU operates on the agreement that all of its actions are created by treaties and are democratically agreed upon by all countries. The EU’s central goals are promoting human rights and equality. In 2009, the Treaty of Lisbon was signed, bringing the EU’s Charter of Fundamental Rights together on one document<a href="#1>¹.

    The EU’s uses a decision-making procedure called “codecision”, where the Council and European Parliament need to approve EU legislation together¹. Before this can happen, the potential economic, social, and environmental consequences need to be assessed. “Impact assessments” outline the advantages and disadvantages of the policy options¹.

    Institutions of the EU include 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 Parliament¹.



    1. European Union. Basic information on the European Union. Retrieved from europa.eu.

    © BrainMass Inc. brainmass.com May 28, 2024, 12:30 pm ad1c9bdddf

    BrainMass Solutions Available for Instant Download

    International Finance: EU vs. America

    1. How are each of the following events likely to affect the U.S. trade balance? a. the European price level increases relative to the U.S. price level b. the dollar appreciates in value relative to the currencies of its trading partners c. the U.S. government offers subsidies to firms that export goods 2. How are each of

    Closed and Open XSystems, Inner and Outer Flows, Leakages

    - Define and explain a closed system and provide an example. - Define and explain an open system and provide an example. - Explain the inner and outer flows of a closed system. - Explain the inner and outer flows of an open system. - Define and explain leakages in an open system. - Define and explain injections in an open s

    Hysteresis Theoretical Arguments

    Question: Please explain briefly whether the theoretical arguments for hysteresis are consistent with the empirical evidence on unemployment.

    Biggest Trouble Since WW2 for Europe

    The German Chancellor Merkel stated that Europe is facing the biggest trouble since WW2. Why? What is the nature of this trouble? How did this trouble come about? In what ways will this trouble impact the US economy? Say you are a company in the Mississippi Delta, exporting goods and services to Europe. In what ways would y

    Impact of trade blocks on American business

    As trade blocks continue to develop (for example, the EU and NAFTA), what will be the impact on American business, in terms of how businesses create value by integrating the production and distribution of goods, serivces, and information? How would this affect your business career?

    2008 world financial crisis

    Explain the 2008 world financial crisis and the ongoing debt crisis in Europe using one of the three theoretical frameworks. realism, liberalism, and constructivism b. Find an article in The Economist that offers a solution based on your theoretical framework. (www.economist.com) In a summary of the article, what are some o

    Price fixing in detergent industry

    a) Identify and explain the key features of an oligopolistic industry. Illustrate your answer with reference to an industry of your choice. b) Examine the case of price fixing within the detergent industry. Examine and evaluate why price fixing would be likely to occur in this industry and explain the economic rationale behi

    Case: Chiquita Brands International

    Case Questions: 1. How strong was Chiquita Bananas before the trade war began? 2. Why was Chiquita vulnerable to trade barrier? 3. What should Chiquita do now? T. Mulligan, D.L. Spar. "Chiquita Brands International." (Harvard Business Case 9-797-015)

    Market analysis

    Suppose you want to start a business in an area in which a natural disaster has recently occurred.How would you decide which kind of business to start? Choose a business in an industry that has been affected, either in a negative or positive way, by the natural disaster. Will demand, supply, or both shift as a result of the even

    Trade Restrictions.

    Identify and explain three trade restrictions. In your opinion, which method of restricting trade is the most efficient?

    European Union and the Leontief statitistic

    The European Union has heavily protected its farm sector through import duties; in addition, the Union subsidizes its exports of agricultural products. If "cropland" is regarded as a factor of production and is included in the Leontief statistic (along with, say, labor), how would the presence of these agricultural policies affe


    In 2006 the hourly cost to employers per German industrial worker was $33. The hourly cost to employers per US industrial worker was $23.65 while the average cost per Taiwanese industrial worker was $6.38. a. Give three reasons why firms produce in Germany rather than in a lower-wage country. b. Germany has just entered into an

    how the Consumer Price Index is calculated

    Can anyone find out how the Consumer Price Index (CPI), the primary measure of inflation used by the government, is calculated? Why might this method not reflect the real cost of living increase for the average person?

    Agricultural subsidies

    "Time" magazine, Canadian edition, has recently published an article on U.S. agricultural subsidies titled "Why our Farm Policy is Failing", November 2nd, 2007. (a) Examine the GATT/WTO regulations concerning agricultural subsidies (origins, implementation, existing subsidy values). (b) Discuss why the US farm policy is fail


    1. Which of the following statements are examples of positive economic analysis? Which are examples of normative analysis? a. The inheritance tax should be repealed because it is unfair. b. In 2005, France and the Netherlands rejected the new European constitution. As a result, the European economy is likely to be less effic

    Comparative Advantage of India

    Discuss the position of India with respect to the comparative advantage it holds in gems and jewellery, software services, and petroleum.

    Annual interest payments on national debt and the affect on GDP

    We are studying the national debit and I am not sure about the link between the national debt, interest payments on the debt and the GDP. Why would economists be very concerned if the annual interest payments on the debt sharply increased as a percentage of GDP?

    Antitrust Policy and Regulatory Competition

    Assume you are the owner-manger of an innovative computer software company, and your latest product is so revolutionary and superb it has resulted in your company controlling 98% of the industry in terms of total sales. a. Should your company be broken up into smaller companies, and/or severely regulated by the government to

    How would you expect antitrust authorities to react to:

    How would you expect antitrust authorities to react to: a. A proposal merger of Ford and General Motors. b. Evidence of secret meetings by contractors to rig bids for highway construction projects. c. A proposed merger of large shoe manufacturer and a chain of retail shoe stores. d. A proposed merger of a small life-insuranc


    Can you give me some references and sources on / for this post please? I would have chosen JEL industries as it is located in a country which is part of the European Union and using Euro as its currency. Being part of a large trading block like European Union proves to be advantageous in most of the cases as it results

    Acme's acquisition- DBC versus JEL

    Hello , how are you, The class I am doing now is " Global Financial Management" If you can help me with this , I would appreciate it very much. The book is MULTINATIONAL BUSINESS FINANCE, BY David .K. Eiteman, Arthur l. Stonehill, , and Michael H. Moffett. Here is the problem--- Acme has been in acquisition talks w