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SUPRA NATIONAL ORGANIZATIONS. The European Union Chapter 10 Lecture 3. Levels of Economic Integration. Free Trade Area Customs Union Common Market Economic Union Political Union. Levels of Economic Integration. Free Trade Area Eliminate barriers to goods produced by member countries

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supra national organizations

SUPRA NATIONAL ORGANIZATIONS

The European Union

Chapter 10 Lecture 3

levels of economic integration
Levels of Economic Integration
  • Free Trade Area
  • Customs Union
  • Common Market
  • Economic Union
  • Political Union
levels of economic integration3
Levels of Economic Integration
  • Free Trade Area
    • Eliminate barriers to goods produced by member countries
    • Each country has own policies about trade with outsiders
levels of economic integration4
Levels of Economic Integration
  • Customs Union
    • Same as Free Trade area PLUS common policies about trade with outsiders
levels of economic integration5
Levels of Economic Integration
  • Common Market
    • Adds free movement of labor and capital to free movement of goods and services
levels of economic integration6
Levels of Economic Integration
  • Economic Union
    • Harmonizes all economic policies
    • Common currency
    • Some level of political integration
levels of economic integration7
Levels of Economic Integration
  • Political Union
    • Common government for all members
    • Eliminates separate nationality, etc.
development of the eu
Development of the EU
  • Developed after World War II
    • Fear of German resurgence
    • Concerns about the Cold War and future East/West conflicts
  • European Coal and Steel Community
    • Cooperate to compete
    • 1951
development of the eu9
Development of the EU
  • Treaty of Rome (1957)—European Economic Community
    • Six countries initially signed
    • Goal of economic and political cooperation
development of the eu10
Development of the EU
  • Treaty of Rome (1957)—European Economic Community
    • Gradual movement to remove barriers to the movement of factors of production
      • People
      • Money
      • Raw materials
      • Finished goods
development of the eu11
Development of the EU
  • Customs Union—1968
    • Increased trade within Europe from $6.8 billion in 1958 to $60 billion in 1972
development of the eu12
Development of the EU
  • Single European Act—1986
    • Pledged to eliminate all trade barriers by 1992
    • End of customs borders within EU by 1992
    • Over 300 provisions to harmonize laws and regulations
development of the eu13
Development of the EU
  • Maastrict Treaty—1991
    • Changed name to European Union
    • Implemented changes called for in 1986
    • Euro by 1999
    • Increased power of European Union/ European Parliament

Now 25 nations

goal of eu
Goal of EU
  • Treaty of Rome called for eventual political union
  • Nationalism creates barriers to this
nafta
NAFTA
  • Created by treaty among U.S., Mexico and Canada (1993/1994)
  • Reduces or eliminates most barriers among the three countries
  • Still working out problems
  • Recent calls to expand throughout the Americas
other supra national organizations
Other Supra National Organizations
  • Military (such as NATO)
  • Economic (such as IMF, World Bank, and regional development banks)
  • Trade (other regional trade blocs, OPEC, etc.)
  • Political (like Commonwealth)
the burning question
The Burning Question
  • Where are we headed?
  • Dynamic tension between integration and separation
    • Local
    • National
    • Regional
    • Global
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