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Reasoning behind the European union being set up, and why the UK benefits from membership of this bloc.
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ECONOMICS OF EUROPE Reasoning behind the European union being set up, and why the UK benefits from membership of this bloc" In a variety of forms the European union (EU) has been in existence for over 40 years, originally formed as the European Economic Community (EEC) with the treaty of Rome in 1957 and came into operation on 1 January 1958. The six original member countries (Belgium, France, Italy, Luxemburg, Netherlands and West Germany.) had already made a move towards integration with the formation of the European Coal and Steel Community, 1952. This removed all restrictions on trade in coal, steel and iron ore between member states. The aim was to gain economies of scale and allow more effective competition with the USA and other foreign producers. This principle was to be extended and aimed eventually to be a full common market with completely free trade between members in all products, and...
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