The Creation Of The European Union Essay

The Creation Of The European Union Essay

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The creation of the European Monetary Union addressed the desire of establishing a unified European. European unification would theoretically come through the monetary union with the elimination trade barriers among European nations in order to promote more trade around Europe. Subsequently, after the agreement of the elimination of trade barriers would start the progress into enacting the single currency. The policy received scrutiny because the initial promise required by the member could potentially hurt their economy if they were a strong economy relative to the other European states. Similarly, the environmental policies proposed by the European Commission received scrutiny for its potential harm on the economy. Again, self-interest lead the opposition as some states pictured the policies too restrictive on their use of natural resources. However, environmental policy gained momentum and thus became part of the expanding of the agenda that occurred in Europe after the creation of the European Coal & Steel Community. As the business sector grew and industry expanded, the environment would become an increasingly important issue regarding how the growing business plans would affect the continent. The environmental policies enacted on the idea of creating policies that promoted a sustainable European continent.
European integration through the establishment of monetary policy first came up as a goal for the European community by 1980. The idea of a collective monetary union, however, was not as practical as the EC thought. In practice, unified currency entailed bringing all of the European currencies together, causing massive inflation for both the wealthier nations and wealthier nations. With wealthier nations fearful of thei...

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...cess. The idea of a united Europe with single currency had been up in the air since the Hague Summit of 1969. Despite the disagreements centered on how to implement a united currency between France and Germany, there was a legitimate concern amongst most countries about the fluctuations of currency. The stronger economies in Europe were dubious about the single currency method because of the idea that their strong currency would contribute more relative to the weaker currencies. Moreover, they were concerned with how change would affect them domestically in the long run.The challenges to the idea of a single currency were not beneficial to Europe because it slowed down their initial process of becoming the world’s most competitive economy. Evidently, the tensions amongst governments especially Germany and France defined the early stages of the single currency process

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