European Union - John McCormick - Government

1. EU economic policy
The single market and the euro
(Chapter 7)

2. Eu economic policy, I
• Ways of economic co-operation between
countries
– Free (preferential) trade area
– Customs union
– Common market
– Economic union
– Political union
• Categorize: USA, NAFTA, CETA, EU, EEC

3. Eu economic policy, II
• Single market
– 1985: Lord Cockfield, White Paper  SEA
– Four freedoms of access: which four?
• (Non-tariff) barriers

4. Eu economic policy, III
• Effects of single market
– Rights of residence
– Joint ventures, joint mergers
– TEN; Transport, energy
– Air transport

5. Eu economic policy, IV
• €
– (2002: 12, now 19)
– convergence criteria
– stability and growth
pact
• Exchange rate Latvian
Lat 2000 - 2013

6. Eu economic policy, V
• Euro, benefits and costs?
– Same currency everywhere
– Currency flexibility no longer available
– Greater price transparency
– Stability of the € compared to former
currencies
– € is world class currency
– € is not enough to decrease disparities

7. EU economic policy VI
• Group Assignment:
– Give 2 recommendations to Pierre Moscovici
(EU Commissioner economic and monetary
affairs) how to battle the effects of the
economic crisis in the EU.
AND
- Should the EU have more rights to overrule
the countries’ budget decisions?
– Deadline: end of class time