POST COLD WAR WORLD
INTEGRATION OF EUROPE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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North Atlantic Treaty Organization
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European Union
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European Economic Community
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Common Market
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Detailed explanation-1: -The European Union’s GDP estimated to be around $16.6 trillion (nominal) in 2022 representing around one sixth of the global economy. Germany has by far the biggest national GDP of all EU countries, followed by France and Italy as number 2 and 3.
Detailed explanation-2: -EEC Becomes EU The EU we know today never really became the European Union until 1992. The EU was known for the few decades prior as the European Economic Community (EEC). The name change was part of the Treaty on European Union, signed in Maastricht, in the Netherlands, in February.
Detailed explanation-3: -In 1993, the single market is launched with the ‘4 freedoms’ of free movement for people, goods, services and money. The 1990s is also the decade of 2 treaties – the Treaty on European Union (Maastricht Treaty) in 1993 and the Treaty of Amsterdam in 1999.
Detailed explanation-4: -GDP of European countries in 2021. With a Gross Domestic Product of over 3.57 trillion Euros, the German economy was by far the largest in Europe in 2021. The similar-sized economies of the United Kingdom and France were the second and third largest economies in Europe during this year, followed by Italy and Spain.