Main Objectives Of EU Flashcards
(5 cards)
1
Q
Free Trade?
A
- Removes trade barriers
- eg) Tarifs and customs tax between members
- encourages trade between eu countries
2
Q
Customs union?
A
- Sets common customs tax / common external tariffs
-Treated as a whole
-consistency
3
Q
Common Market?
A
- Free trade of goods + services
- Free movement of capital and Labour
- Also may implement common product standards
4
Q
Economic union?
A
- Common policies
- Common economic goals
5
Q
Monetary union?
A
- Adoption of a single currency
-Reduces uncertainty by the fluctuation of exchange rate
