Podcast
Questions and Answers
What was highlighted by the monetary convergence of EU countries?
What was highlighted by the monetary convergence of EU countries?
- The need for economic and social cohesion
- The disparities between countries in terms of economic development (correct)
- The similarities between countries in terms of economic development
- The autonomy of EU countries in exchange and monetary matters
What was a cost of countries participating in EMU?
What was a cost of countries participating in EMU?
- The loss of autonomy in exchange and monetary matters (correct)
- The strengthening of democratic legitimacy
- The establishment of European citizenship
- The gain of autonomy in exchange and monetary matters
What was established by the Treaty on European Union?
What was established by the Treaty on European Union?
- The Committee of the Regions
- The right of European citizenship (correct)
- The European Ombudsman
- The European Central Bank
What principle was applied in the reinforcement of democratic legitimacy?
What principle was applied in the reinforcement of democratic legitimacy?
What was created as a result of the reinforcement of democratic legitimacy?
What was created as a result of the reinforcement of democratic legitimacy?
What is a right underlying European citizenship?
What is a right underlying European citizenship?
What is a consequence of the unification of exchange rate policies?
What is a consequence of the unification of exchange rate policies?
What is necessary for EU countries to achieve real convergence?
What is necessary for EU countries to achieve real convergence?
What is the main characteristic of a Customs Union?
What is the main characteristic of a Customs Union?
What is the primary goal of an Economic Union?
What is the primary goal of an Economic Union?
What is added to an Economic Union to form an Economic and Monetary Union?
What is added to an Economic Union to form an Economic and Monetary Union?
What is the name of the policy that allows for the free movement of people, goods, services, and capital?
What is the name of the policy that allows for the free movement of people, goods, services, and capital?
What is one of the primary objectives of the European Union according to the Lisbon Treaty?
What is one of the primary objectives of the European Union according to the Lisbon Treaty?
What is the result of an Economic and Monetary Union on national policies?
What is the result of an Economic and Monetary Union on national policies?
What is a key aspect of the European Union's economic policy?
What is a key aspect of the European Union's economic policy?
What is the European Union's goal for regional development?
What is the European Union's goal for regional development?
What is the main difference between an Economic Union and an Economic and Monetary Union?
What is the main difference between an Economic Union and an Economic and Monetary Union?
What is the primary goal of a Common Market?
What is the primary goal of a Common Market?
How does the European Union aim to reduce social exclusion?
How does the European Union aim to reduce social exclusion?
What is the name of the act that drove the creation of the Single Market?
What is the name of the act that drove the creation of the Single Market?
What is a key aspect of the European Union's area of freedom, security, and justice?
What is a key aspect of the European Union's area of freedom, security, and justice?
What is a goal of the European Union's common policies?
What is a goal of the European Union's common policies?
What is the European Union's approach to economic growth?
What is the European Union's approach to economic growth?
What is a key aspect of the European Union's technological policy?
What is a key aspect of the European Union's technological policy?
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Study Notes
Forms of Economic Integration
- Customs union: in addition to free trade, member countries adopt the same customs tariff for trade with third countries (e.g., EFTA)
- Common Market: institutionalization of free movement of people, goods, services, and capital, with common policies to harmonize economic and social spaces (e.g., Single Market)
- Economic Union: harmonization of economic and social policies, aiming to eliminate differences between member states (e.g., EU)
- Economic and Monetary Union (EMU): adds a common currency to Economic Union, with total harmonization of economic, monetary, fiscal, exchange rate, and environmental policies
- Political Union: aims to establish European citizenship, reinforce democratic legitimacy, and strengthen the EU's role in promoting peace, values, and well-being
Characteristics of EMU
- Common currency
- Total harmonization of economic, monetary, fiscal, exchange rate, and environmental policies
- Supranational bodies make decisions, reducing national autonomy
- Aims to eliminate exchange rate disparities and achieve economic convergence
Objectives of the European Union
- Promote peace, values, and well-being of citizens
- Strengthen economic, social, territorial cohesion, and solidarity between member states
- Protect and improve the environment
- Encourage sustainable development, balanced economic growth, and social progress
- Provide an area of freedom, security, and justice
- Foster scientific and technological progress
- Combat social exclusion and discrimination
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