The economics of European inegration
14 important questions on The economics of European inegration
With the completion of the single market, the EU became an economic union. What did this mean?
- NO tariffs between member states
- Common trade policy
- Free movements of goods and services
- Free movements of labour and capital
- Common macro-economic policies.
After becoming an economic union the next logical step for Europe was an Economic and Monetary Union (EMU). What does this mean?
What is the stability and growth pact? (SGP)
- budget deficit no higher than 3%
- government debt lower than 60% of GDP
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What does price stability mean? (the Maastricht criteria)
EMU rule: inflation should be no more than 1,5% above that of the three members with the lowest inflation rates of the last year
What is interest rate? (the Maastricht criteria)
EMU rule: the long-term interest rate should be no more than 2% above that of the three members with the lowest inflation rate in the previous year.
What is budget deficit? (the maastricht criteria)
EMU rule: budget deficit must generally be below 3% of the GDP.
What is government debt? (the maastricht criteria)
EMU rule: government debts should be below 60% of the GDP
What is exchange rate stability? (the maastricht criteria)
EMU rule: the exchange rate should have stayed within predefined fluctuations margins for two years.
What is the role of the European Central Bank?
What are the basic features of EU trade and investment policies?
What are the three different dimensions of trade and investment policy?
2. Bilateral
3. Unilateral
What is the multilateral dimension?
Big questions:
- where are we today?
- will this make a difference for development?
- will this be a good deal?
- will we get there in the end?
What is the bilateral dimension?
What is the unilateral dimension ?
- Generalised scheme of preferences (GSP)
- standard GSP
- everything but arms (EBA)
- GSP+
- Trade defense instruments
- anti-dumping
- anti-subsidy
- safeguard measures
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
