POST COLD WAR WORLD
INTEGRATION OF EUROPE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The use of the Euro
|
|
|
A common cultural identity
|
|
|
Countries are unwilling to give up power
|
|
|
people speak different languages
|
Detailed explanation-1: -The following are examples of Regional Economic Integration: NAFTA (North American Free Trade Agreement)-An agreement among the U.S.A., Canada, and Mexico. EU (European Union)-A trade agreement with 15 European countries. APEC (Asian Pacific Economic Cooperation Forum)-This includes NAFT A members, Japan, and China.
Detailed explanation-2: -The Economic and Monetary Union (EMU) represents a major step in the integration of EU economies. Launched in 1992, EMU involves the coordination of economic and fiscal policies, a common monetary policy, and a common currency, the euro.
Detailed explanation-3: -The EU has strengthened economic governance, designed a system to safeguard financial stability in the euro area, improved Member States’ public finances and promoted reforms to encourage investment.
Detailed explanation-4: -The European Union (EU) is an example of an economic union. The countries of the EU coordinate their respective economic policies, laws and regulations so they can work together to address economic and financial issues. The EU also has a common currency, the Euro, used by 19 EU members.