European Union: History, Objectives, and Impact
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The Need for a European Trade Zone
The Treaty of Rome contained viable proposals for the creation of a European common market. The objective was to create prosperity and unite the EEC, both politically and economically.
Policies related to the free movement of goods, services, people, and capital were established. Common laws were created and a free market was ready to start.
The European common market created economies of scale in manufacturing, research, and innovation.
As production increased, costs would be reduced. In this way, European countries were able to compete more effectively with countries such as the USA or Japan.
The European Union
The Treaty of the European Union, or the Maastricht Treaty, was signed in 1992 in Maastricht, allowing... Continue reading "European Union: History, Objectives, and Impact" »