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Group 4: The European Union
Transcript of Group 4: The European Union
What is the European Union?
The economical and political union of
mostly in Europe
History of the EU
1945- End of World War II
1952- Beginning of the European Coal and Steel Community
1958- The Treaty of Rome and the European Economic Community (EEC) forms
1973- New members added to the EEC; Denmark, Ireland and the United Kingdom
1979- Members states directly elect the European Parliament
1986-1991- Communist Regimes in Eastern and Central Europe collapse
1987- Single European Act (SEA)
1993- Maastricht Treaty goes into effect; European Union is established.
1999- In 12 member states, Euro notes and coins are introduced
2004- Enlargement - 10 more countries joined EU. Leaders of member states sign the new constitution
2005- The new EU constitution is rejected by voters in France and the Netherlands
Eurozone Strengths & Weaknesses
Pros & Cons of the European Union
Has contributed to peace and security on the European continent for more than 50 years
Created more economic growth with the idea of free trade
Strengthened democracy and human rights
Absence of a strong foreign policy and has no permanent military force of its own
Has always been based on legal treaties and law. It has never had a formal constitution
Growth rates, Unemployment, and Poverty
Trade and travel between EZ countries is cheaper & easier.
No exchange rate fluctuations
Reduced transaction costs
Lowered interest rates overall
Stimulated trade activities
Euro is a symbol of European identity and a vital part of the process of political integration.
One country’s negative press regarding political or economic troubles can damage the entire zone
Member countries are not able to establish their own monetary policies to govern their national economy.
A national currency is a symbol of identity: adopting the Euro means symbolically and practically giving up sovereignty
Positive impact of on illy
Borderless potential market
Every time that a new country joins the EU,
our business in that country grows with higher rate
Lower interest rates and therefore have low financing costs
Easy access to financing outside our nation, in all the EU countries.
Inflation rate is under control.
Increased suppliers differentiation.
Diminished time of deliveries
Negative impact on illy
Difficulties in price discrimination among countries
The bigger the European Union gets, the more competition we have
Guarantee the freedom and movement of people, goods, services & capital
Establish a common market
Create barrier-free trade zone
Enhance economic wealth by creating more efficiency within the marketplace.
Resolve conflict through peaceful means
"Unity is Diversity"
Why was the EU established when it was?
Eliminate exchange rates
Prevent flow of investments from one currency to another
for a chance at better rates
Facilitate economic growth with low inflation
Provide more incentive for countries in the EU to integrate their economies
Allowing better chance of economies of scale and thus return more money into the EZ
A unified Europe has long been the dream of a great many rulers, conquerors and scholars.
Rate of Inflation
How Successful have the EU & EZ Been?
Impact of EU & EZ on illy :
Headquartered in Trieste, Italy
Goals of the European Union
Overall aim is to promote peace;
the values of human rights;
the rule of law;
and the well-being of its peoples.
Eurozone AKA "The Euro area"