The European Union Essay

Submitted By Jinzhe-Xu
Words: 563
Pages: 3

At the same time the level of economic integration with the EU countries together to play a global role in the effect of operation. Estimated from a simple calculation, there is a combination of the EU's GDP is assumed that they are drawing the same country, will be the world's highest number. This is why there is a strong need for such integration continued coordination between the Member States.
The EU is based on the rule of law: everything that it does is founded on treaties, voluntarily and democratically agreed by all member countries. These binding agreements set out the EU's goals in its many areas of activity. The EU has delivered half a century of peace, stability and prosperity, helped raise living standards, and launched a single European currency, the euro. The single or 'internal' market is the EU's main economic engine, enabling most goods, services, money and people to move freely. According to Hill (2013), Economic integration is the key for the survival of the EU. While the EU has one unified currency, all members have different fiscal policies which has seen states such as Greece and Spain dealing with the fallouts of poor spending and infrastructure development, corruption and low-unemployment. There are five levels: free trade area, customs union, common market, economic union, and political union. Another key objective is to develop this huge resource to ensure that Europeans can draw the maximum benefit from it. Moreover, one of the EU’s main goals is to promote human rights both internally and around the world. Human dignity, freedom, democracy, equality, the rule of law and respect for human rights: these are the core values of the EU. The European Union’s goal was to dismantle barriers to cross-border activity in financial services creating a continent-wide market for banking service, insurance services and investment products, the vision of a single Europe (Hill 2013, p.294). The closure of border controls between European Union countries makes it easier for people to live, work and travel abroad in Europe (European Union 2015). However, conflict is an unavoidable component of human activity. The European Union is a unique economic and political…