1. The European Union

2. Free Trade Zones
Can you think of any we have already discussed this year for Europe?
One example: Benelux- Economic union between the Belgium, Netherlands, and Luxemburg
European Union

3. What is the EU? Union of 28 countries Economic and Political Union
Determines agricultural, customs and immigration policies (freedom of movement of goods and people)

4. The EU Requirements to join: Must have stable political system
Must be a market economy
Must protect minorities
Must be able to take on obligations of the union
Must be in Europe- except for territories of European countries

5. EU GOALS: allow people to live and work in any member country
remove trade barriers
set common economic goals

6. Eurozone Why don’t all 28 countries use the Euro?
Common currency- Euro
Eurozone- 18 countries that use the Euro (eliminates borders)
Why don’t all 28 countries use the Euro?
Some countries choose not to b/c their currency is worth more than the Euro
Other countries are not allowed to b/c their economy is weak and it would hurt the value of the Euro
EU Video
Eurozone