European Union is a political and economic union of 27 member states that are located in Europe.
Its aim is to promote peace, establish a unified economic and monetary system, promote inclusion and combat discrimination, breakdown barriers to trade and borders, and encourage technological and scientific developments and environmental protection.
It offers the freedom to citizens and the well-being of the citizens. The monetary system uses the same currency which is the euro.
Pros of Europeans Unions
- Consumers have access to all online services
Those who travel through European Union are able to use all the online services without any extra cost. They can get accessed to all information they like as long as they are within the European Union.
- Consistency in the protection of human rights
The union has the mandate to protect all the groups in the continent. It ensures that everyone receives the same right hence no one can feel being oppressed.
- Creates high food standards
The task of ensuring that the consumers get high standard foods is managed from the ports and this makes it possible for the consumers not to be sold low-quality goods that may affect them in the future.
- One country is not able to dominate the political spectrum
The presidency of the union rotates after every six months and this allows every nation to get an opportunity to rule hence the political spectrum is fair to all nations as one nation does not feel being oppressed by the other.
- The economic benefits extend to the whole world
The value of the imports and exports benefits from the union as the goods can be supplied to other nations hence ensuring the availability of goods to many people all over the world.
- Creates an opportunity for people to travel over the world
The European Union provides a Schengen visa that allows people to travel to other parts of the world. This makes it possible for people to explore other nations as they do not require any other document for them to travel.
- It promotes working together
There is stability in the union and this makes it possible for the member countries to work together promoting the production.
- More job opportunities and higher wages
The European Union has a variety of job opportunities and they pay the workers well. As there are 28 states that create a single nation they have a wide market of their products hence there is a need for a lot of workers to be hired to facilitate the production.
- It is concerned with the environment
They manage the environment as they know the impact that it can cause in case the environment is not taken care of. As the 28 states can come together to make the environment friendly, then it is possible for the whole world to be environmentally friendly.
- There is high industrial evolution
Many industries have been developed as the states are utilizing the raw materials available and they also have a wide range of markets of their products because the member states are free to trade areas hence they can trade easily.
- It led to an end of overdependence on other countries
The member states are able to utilize the resources that are available in the nation and this makes it stop depending on other nations for some services such as the military.
- It allows resources to be invested in the nation
The resources from the member states are invested in the nation and this makes it possible for the nation to develop economically.
Cons of European Unions
- The tax structure does not allow the development of small businesses
Most of the member states are not able to develop economically as the tax structure is very complicated for the emergency of new businesses. This makes the new industries not to develop hence only relying on the industries that were started a long time ago.
- It favors larger countries
The European Union favors larger countries in that the international monetary funds for the larger countries rose tremendously as compared to small countries and this has made the small countries not to develop economically very fast.
- The countries must pay to be involved in the union
If the country would like to join the union, then there is a certain fee that is to be paid and this discourages other countries from getting into the union.
- At times there is a lack of transparency
The larger states can easily sway the elections in the nation making the small states not to benefit from it as there will be few people who will be elected from the small states to represent their nation hence they may suffer in the hands of larger states.
- Inadequate security
As people from member states are issued with the Schengen visa, they are able to use it to travel to any state within the nation and this may cause insecurity as there may be high crime rates in the nation from allowing people to travel freely.
- Overcrowding due to immigration
As people are allowed to move to other states using a Schengen visa, it can lead to overcrowding in some nations which will make the social amenities not to be enough for the population.
- They have a single currency
This makes it hard for traders as the value of the currency remains the same in the whole nation and this makes them not see the need for investing in the exports.
- Problems with the policies
The policies in the European Union do not allow people to operate in many markets. It only allows people to operate single markets and this may make the traders not to be able to move freely to trade.
European Union is a good organization as its aim was to improve the economic status of the member countries. It is more beneficial to many states as they are able to trade freely in the nation making the goods available to consumers throughout.
This promotes international trade in the nation and reduces over-dependence on goods and services from foreign nations which may be expensive.