It also seems that a regionally integrated market can increase foreign direct investments (FDIs), mainly due to the fact that this will appear as a better regulated market and as a market offering more opportunities than a smaller market. For example, in EU's case, we are talking about a market with almost half a billion consumers and coordinated with unified economic policies from Brussels. A highly stable market and with good growth potential, this will attract foreign investors. So, as a regionally integrated market, the EU also offers the advantage of a regulated market, with practical approaches that make the market successful.
Other advantages of regional economic integration are particular to specific countries. In the EU, this is the case of less developed countries, such as Greece, Portugal and Spain (at the moment of their adherence) or the countries of Eastern Europe (in the present). The fact that these countries adhered to the European Union meant that they had to commit to specific macroeconomic reform, as specified in their treaties of accession. This virtually not only improved macroeconomic conditions, but also significantly improved living standards for the citizens of those countries. Basically, accession to the EU was conditioned by the capacity of these countries to implement reforms that would allow them to eventually reach an economic level closer to the one in the EU.
Indeed, one of the problems lately in the EU is given by the discrepancy in economic development stages between the member countries. At the beginning, with the six founding members, these discrepancies were relatively small, the countries generally being at similar stages of economic development. However, with the accession of Greece (1981), Spain and Portugal (1986) and former East Germany (1990), this changed. The new countries were less developed and significant amounts of money, in the form of cohesion, social or development fund needed to be poured in so as to sustain these economies and bring them to a similar level as the ones of the member...
political framework of EU and OCT European Union (EU) and Overseas Countries and Territories (OCTs) are in association with each other via a system which is based on the provisions of part IV of the Treaty on the Functioning of the EU (TFEU), consisting of detailed rules and measures which are laid down in the document issued on 27th November 2001 title Oversees Association Decision. The expiry date of this
This development approach, by the European Union, is similar to the Bretton Woods institutions' 'Washington consensus', which was developed in the latter half of the 1980s, following "several severe balance of payments crises of developing countries" (Nienhaus, 2002, p. 55). The European Union does not favor indiscriminate opening of markets, but rather it looks for more liberal trade arrangements with developing countries and the European Union solely. This policy
While the government may have initial setup costs to bring legislation and services into line with other member states, there are a large variety of benefits in the long-term. These include benefits to the government itself, with increased stability in the economy and overall prosperity. There are also numerous benefits to the individuals within the country, such as the freedom to travel and work within the different countries within
It also illustrates how many of the same human rights that the U.S. Supreme Court has interpreted and applied are protected by others in a similar way." (Youm, 2007) It is noted that Louis Henkin stated of the U.S. constitutional system and international human rights, that each of these continue to influence each other. U.S. constitutional jurisprudence is invoked by international bodies, in particular by the European and the Inter-American
But when it just recently occurred in 2004 at a store in Jonquiere, British Columbia, the reader must appreciate that a real battle had been won. The original efforts of that particular store for example had the local labor Commission reject certification by a margin of 74 to 65. When the union announced that it won the coveted certification at Quebec, it was quite a blow to the retailer.
European Security and Defense Policy: Development and Prospects United States Attitudes toward European Defense The Background to the Dilemma: In December of 1991, the Soviet Union - Ronald Reagan's "Evil Empire" - ceased to exist. Communism was dead. The Cold War over. Long live freedom and democracy! The Union of Soviet Socialist Republics was replaced by a weak and impoverished federation of fifteen republics. America stood alone. She had become - in
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