mgmt 346 ch 15 EU

disadvantages to expansion

pose threat to western dominance, may drain on resources

Customs Union vs. Free Trade Area

customs union has a common external tariff, free trade area does not

Member states of the EU selecting the Euro as their national currency are referred to as members of the:

eurozone

Scottish separatists living in Glasgow in 2017 create the "Republic of Scotland" and declare themselves a separate state. They assert a right to become a member state of the EU and are greatly concerned at the "Brexit" vote in the UK and what happens after the UK leaves the EU. They believe EU membership is critical. Can the Republic of Scotland become an EU member automatically by virtue of having been a part of UK before?

b. No, the Maastricht Treaty deems only recognized "states" can apply for and be granted membership. Until such universal recognition occurs, at best the Republic of Scotland is a candidate for future membership.

A Spanish buyer imports computers from China and pays the appropriate tariff. It then sells the computers to a Portuguese buyer and the goods enter Portugal without tariff. The Portuguese owner then exports the computers to a distributor in Italy and again the computers cross a national a border with no tariff. In this respect, the EU is similar to a:

customs union

The primary EU institution promoting monetary policy and the stability of prices and payment systems is the:

eu central bank germany

Company A in Greece imports stoves from Brazil and pays the mandated tariff. Company A then exports the stoves to a buyer in France and no tariff is paid for that import, it enters France duty free. Of the "Four Freedoms" specified in the Treaty of Rome, this is an example of the Freed of Movement of:

goods

advantages to expansion

greater security for euro continent, minimizes armed conflict, promotes democracry, human rights gives members access to new markets

Maasctricht Treaty

1993 created EU and set path for monetary union (euro)

eurozone stability mechanism

permanent funding program for the rescue of the eu states going through financial crises

The true beginning of the concept that led years later to the current European Union (EU) was in 1957 with the signing of the:

treaty of rome

The EU insures minimum prices for agricultural products and imposes tariff barriers on non-member agricultural products through establishment of its:

Common Agricultural Policy (CAP).

treaty of rome

Pact, created in 1957, that set up the European Economic Community - launched the process of creating a customs union to prevent market wide combinations in restrain in trade

Single European Act

1987, work toward esablishment of a single market, -made it easier for eu to act by req only a qualified majority vote for many types of directives

treaty of lisbon

2009 restructured EU: provided w/ exclusive powers in customs unions, trade policies

brexit

2016 uk withdraws from eu

The Maastricht Treaty in 1991 advanced the concept of advanced economic integration with the EU and also for the first time the principle of:

EU "citizenship" to promote the movement of labor across borders.

There are multiple institutions within the EU with various roles. The "heads of state" of the EU members comprise membership of the "highest ranking" section of the complex EU administrative structure with jurisdiction over a wide range of issues. This administrative group is called:

EU council

The only EU institution whose members are elected by private, individual European citizens is called the:

EU parliament

The Court of Justice of the European Union:

Functions as the final decision-maker on questions/interpretations of EU law.