The European Union

THE EUROPEAN UNIONPurpose : - work towards political and economic integration of its fundamental seven members . Its main aim is to establish a close relationship between its members , thus making the most of their embody abilities viz . free upsurge , freedom of movement , increased hypothesize opportunities , capital exchange rates and stable fiscal policies . The EU was also formed as a counter round against the dominance of United States as the planetary super seed . It is basically an extension to the atomic number 63an Economic Committee (EEC ) ab initio formed by six Western Europe br nations . Its success in liberalizing trade and various internal trade policies yielded the Treaty of Maastricht resulting in the formation of the European UnionBenefits to the members : - Establishment of European Monetary Sys tem so as to avoid grownup currentness fluctuations . Lifting of exchange controls and the elimination of barriers to Europe-wide banking , insurance securities , and other monetary services . The treaty of Amsterdam facilitates common foreign and certification policies and cooperation in justice and home affairsChallenges and Opportunities for a US marketer :- For a US marketer the challenges offered by the EU nuclear number 18 to a greater extent than the opportunities due to the difference in the working styles as well as taking into consideration that EU was setup as a countermeasure against US . Apparently some(prenominal) US and EU flummox two taken an initiative to deepen trade by promoting restrictive and standards cooperation , stimulating open and competitory capital markets , spurring excogitation and development of technology cooperation on procurement and services etcCountries who have adopted the Euro : - Austria , Belgium , Finland France , Germany , Greece , Ireland , Italy , Luxembourg , Neth! erlands Portugal , Slovenia , and Spain . midget states of Monaco , Vatican city and San marinoCountries who have not adopted the Euro : - Denmark , Sweden and United KingdomFuture Joinings : - Bulgaria (2009 , Cyprus (2007 , Estonia (2007 Latvia (2008 , Lithuania (2007 , Malta (2008 , Slovenia (2007 , the Czechoslovakian Republic (2009 , Poland (2009 , Hungary (2010 ) and Romania (2012-13Advantages of single European Currency : - One of the pragmatical benefits of Euro is that traveling with in Europe is easy now . Euro helps permit a single monetary market for financial operators (i .e . banks , insurers enthronement currency , pension funds , etc . Investors can spread their risks more easily now . governmental integration can mould benefits to all the member nations and pertly growth opportunities . Also , having a single currency and monetary union strengthens Europe s office staff in the global scenario . As a world currency Euro is playing an of import role as an international investment and reserve currency . Elimination of exchange rate fluctuations , break in argumentation planning , no transaction costs , monetary apprize transparency , and low interest rates are whatsoever of the other benefitsDisadvantages of single European Currency : - There was a slight rise in the price after the conflict of Euro in several countries . The changeover costs are spacious . This includes public awareness campaigns changing payment systems , converting and replacing change in machines and producing notes and coins . In shops , retailers have to use two tills to deal with both their national...If you want to get a full essay, put in it on our website: OrderCustomPaper.com

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