Economic And Monetary Union Of Europe



The main reason for creating a European Market was the growing
international competitiveness. In the mid of the eighties the European countries
recognized that in the long run the national economies alone won't be able to
compete against countries like the US, Japan and the new industrial centers in
East Asia. The biggest advantage of the European integration is the unique
chance of causing significant economic growth in the member countries by
abolishing all kinds of barriers e.g. customs controls, trade restrictions,
liberation of the movement of capital, tax harmonization, and by the opening of
the financial market, a common trade policy, a common service market, common
legal ...

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economy which for sure would create new jobs in Europe.

The German population, however, is scared that a United Europe would
create new jobs only in low wage countries like e.g. Portugal. Many think that a
European market with no barriers would would even cause “job hollowing out” of
Germany. Moreover the German population likes the strength of the D-Mark and is
worried that a single European currency would be weaker. As a result of this
many Germans change their money into Swiss Francs. So far Switzerland has done
quite well by not taking place in all events available. One reason why they are
better off is that they didn't take place neither in World War I nor in World
war II and therefore didn't have to rebuild everything.

Some people expect that in a Unified Europe the standard of living in
the richer countries will decrease while the people in poorer countries will
fare better. One professor of mine once said: “Somebody must pay for the
European Integration. Most ...

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Economic And Monetary Union Of Europe. (2005, March 6). Retrieved October 24, 2020, from http://www.essayworld.com/essays/Economic-And-Monetary-Union-Of-Europe/23298
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PAPER DETAILS
Added: 3/6/2005 07:09:44 PM
Category: Economics
Type: Premium Paper
Words: 909
Pages: 4

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