The Euro and Its Implications for the European Union
A look at the effects of the Euro on world economies.
This paper examines the background behind the decision of the movement to a unified European currency. It describes both the expected positive effects and negative ramifications.
“The Economic and Social Committee was established in 1958 to advise the Commission and the Council of Ministers on the effect of the EU’s policies and practices on the general economy. It consists of three groups, employers’ organizations, trade unions, and “special interests” (e.g. consumers, agriculture, and small business). The liberalized trade policies were greatly responsible for increasing trade and economic prosperity in Europe. By 1968, tariff barriers had been abolished for agricultural as well as industrial products.”
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