European Integration

The European Union is an economic and political entity and confederation of 27 member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community (ECSC) and the European Economic Community (EEC), formed by six countries in 1958. Nowadays it is a unique endeavor involving economic and political integration in the world today. European integration is the process of industrial, political, legal, economic and in some cases social and cultural integration and consolidation of states. The EU operates through a system of supranational independent institutions and intergovernmental negotiated decisions by the member states.

In order to express whether the process of European integration has positive or negative points, we have to take into consideration its both advantages and disadvantages.

The first advantage of the EU is open border, which allows to travel and therefore to find a good job. This kind of possibility increases tourism because borders are easier to cross. You can go on holiday and not to worry about getting your money changed, avoiding high conversion charges thanks to the eliminated transaction costs. Work between member nations is not restricted so people may move easily between nations to find employment. This results in diverse job market which helps to earn living making a lot of money.

Another advantage is the free trade zone and single market as a result of monetary union. This allows other countries to have access to any market within the EU. The single market involves the free circulation of goods, capital, and services within the EU, and the customs union involves the application of a common external tariff on all goods entering the market. Once goods have been admitted into the market they cannot be subjected to customs duties, discriminatory taxes or import quotas, as they travel internally.

Besides the advantages in the sphere of economy European integration