Disadvantages of the European Union include inefficient policies, high membership cost and single currency problems. Others are pressure to pursue austerity, net migration and complex bureaucracy.Continue Reading
The European Union regulations on immigrations affect some countries' policies. For instance, member countries lack the authority to turn away large numbers of refugees. Such limitations strain members’ financial resources.
The law concerning procurement from European Union countries costs individual organizations a lot. All companies in member countries must re-evaluate all contracts rather than doing business with known organizations. Although this law gives European Union countries a fair chance, it locks out potential business from non-members. The use of the Euro as the main currency affects some members. According to Economics Help, countries with financial problems have a disadvantage when using the Euro.
The policy on immigration can encourage loss of experienced staff. It allows free movement of people from one member state to another. The bureaucracy of the European Union is a threat to weaker nations. The members are appointed and not elected, thus contributing to a lack of democratic representation. The appointed members make rules that affect member states without consent. Additionally, European Union membership costs are high, making it hard for poor economies to participate. On average, the cost of European Union membership runs to the excess of 83 billion British pounds.Learn more about Modern Europe
Belgium, Germany, France, Italy, Luxembourg and the Netherlands were the first Europeans to economically cooperate in 1951. As of 2015, the European Union consists of 28 members with Croatia becoming the newest member in 2013, bringing the total population of the union to more than 500 million.Full Answer >
Pros of the European Union (EU) include the formation of a powerhouse in industry and trade, but cons include the lack of a common language and the risk of a country losing its own identity. The EU also makes it difficult for smaller nations to join.Full Answer >
There are several benefits for joining the European Union including membership into the largest single market, access to foreign direct investment and the citizens' right to relocate anywhere within the European Union without a visa.Full Answer >
Belgium, France, Germany, Italy, Luxembourg and Netherlands originally formed the European Union. In 1973, Denmark, Ireland and the United Kingdom joined. By 1995, Austria, Finland, Sweden, Portugal, Spain and Greece had become members. Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, Slovenia, Croatia, Bulgaria and Romania have joined since 2003.Full Answer >