European Union

European Union The EU is a unique economic and political partnership between 28 European countries that together cover much of the continent of Europe. Each individual country has their own flag, but this is the flag for the European Union.

Reason the EU was created It was created after World War II. The first steps were to encourage economic cooperation: the idea was for countries to trade with one another and become economically interdependent (need each other) so they would be more likely to avoid conflict (War).

At first countries joined the European Union to encourage trade with member nations.

Why would a country want to join the European Union?

It has also helped raise the standard of living for member nations.

People can travel freely and live and work anywhere in the European Union.

Member nations agreed to do away with tariffs when trading with one another. (free trade)

The EU created a common currency called the Euro. This makes trade easier.

How does having a common currency make trade easier?

Money does not have to be exchanged each time it crosses a border to a new country.

The EU has delivered half a century of peace, stability, and prosperity.

What does a country have to do to join the European Union?

To be a member of the European Union a country must be a democracy with market economy and agree to the rules of the EU.

The EU is founded on treaties, it is voluntary ( You don’t have to join.)

Remember that a confederation means that each individual country has more power than the central authority. France Italy EU Germany Spain

An easy way to think about a confederation is to think about a community pool. You choose whether you want to join. You must obey the rules of the pool, but the lifeguard can’t come to your house and tell you what to do. You have the authority over your own house.

Spain Italy Poland Germany E.U. Portugal France Belgium Each house represents a member of the European Union. The pool represents the European Union The pool guy can not come to your house and tell you what to do. You must obey the rules of the pool to be able to join.

http://europa.eu/index_en.htm http://europa.eu/

GDP Gross Domestic Product The total value of goods and services in a country for a year.

What is the purpose of GDP?

GDP is used to show the wealth of a country. GDP can be used to compare the growth of a single country from one year to the next. It can also be used to compare the wealth of two or more countries.

GDP per Capita of EU Countries The average income per person (This is the GDP ÷ by the population)

What is the Purpose of GDP per capita?

GDP per capita is used to show how wealthy the citizens are in a country.

What is literacy rate?

What is literacy rate? The amount of people in a country that can read and write

How does literacy rate affect the standard of the GDP?

How does literacy rate affect the standard of the GDP How does literacy rate affect the standard of the GDP? A high literacy rate = a better education= a better job= higher pay= higher standard of living= a higher GDP