Economic integrating is a wide inter-state association that has its ain organisational structure.A Integration between the participants means intensive exchange of goods, services, capital and labour. This procedure of economic interaction between states leads to a convergence of economic mechanisms that are regulated by international understandings and intergovernmental bodies.A
The European Union was the consequence of procedures of economic integrating in the universe, it was established in 1958 and nowadays has become a powerful economic grouping.A In the model of the Union were established the benefits of common trade, was held the overall economic policy, were removed limitations on the motion of goods, capital and labour.
In its development, the EU has passed all the signifiers of integrating: free trade country, imposts brotherhood, economic and currency brotherhood, and political brotherhood ( the formation of the 3rd and 4th signifiers is non yet complete )
The creative activity of the EU was aimed at making a common market, and on this footing to increase economic stableness and life standards.A
The EU Treaty defined:
1 ) riddance of imposts responsibilities, import and export limitations, every bit good as all other trade limitations on the motion of goods within the community ;
2 ) debut of a common imposts duty and a individual trading policy towards other states ;
3 ) the free motion of production factors ( capital and labour ) ;
4 ) transporting out the common agricultural and transport policies ;
5 ) creative activity of a pecuniary brotherhood ;
6 ) Coordination and the gradual convergence of economic policies of member states ;
7 ) harmonisation of revenue enhancement Torahs ;
8 ) the alliance of domestic Torahs, that are relevant to the overall market. ( Healey 1995 )
The strategic end of economic policy of the EU is beef uping, upgrading and restructuring of economic base, making a sound economic and pecuniary brotherhood, keeping its fight in the planetary market.A The footing of this policy is the integrating of the involvements of the Community, and particularly of its most economically developed states.
Despite a figure of complexnesss and contradictions of organisational, economic and fiscal nature, despite the differences in development degrees of states, the leading of the EU and its supranational organic structures has managed ( through the coordination of economic policy, redistribution of resources in support of the weaker provinces ) non merely to stabilise the mean economic public presentation of theA EU member provinces, but besides to guarantee sustainable community development.
Prior to the constitution of the Economic and Monetary Union ( EMU ) interaction of member states on the economic policies was carried out chiefly utilizing the tools of trade and structural policies ( Pan-European conveyance undertakings, the environment, advancing scientific discipline and research, etc. ) or micro-economic ordinance ( ordinance of certain facets ofA activities of endeavors, for illustration – in the field of occupational safety ) .A And in the 1990 the Maastricht Treaty introduced the full scope of tools, including instruments of macroeconomic ordinance.
The formation of EMU was made in three phases and completed the debut of the individual European currency, which bit by bit replaced the national currencies. Inside the EMU Economic and Monetary Integration elements are organically linked and can non be separately.A Thus, the overall economic policy enables to organize in the district of all member states a common economic infinite and Monetary Union, and can non run at well different national rising prices rates, involvement rates, degrees of public debt, etc.
Prospects for the development of European pecuniary integrating are connected with two facets:
– The economic chances of the major states of the European Monetary Union and the velocity of work outing economic jobs, which worsened or appeared in these states after the passage to the euro ;
– Accession to the European Monetary Union of Central and Eastern Europe, the scenario of economic development and successful development of these states in economic footings from Western Europe, which determines the overall concern clime in the EU.
Economic position of states today outside the euro country to find, in the first topographic point, future chances for the euro.A As noted in the literature, “ the chances of a individual currency follow from the grounds for its creative activity: reduction of dealing costs, increased competition, easing the battle against rising prices ” . Acceleration of integrating procedures and the creative activity of a strong currency will take to increased economic consolidation and economic growing. ( Ziltener 2001 )
Besides talking about the economic policy of the EU it should be noted that after the formation and deepening of international economic integrating in Western Europe, the take parting states faced the demand for joint solutions to regional jobs, as there were serious differences in regional development, that is a noteworthy obstruction to farther strengthenA linkages between national economies.A Ultimately, it was introduced a new signifier of regional policy – on the interstate or supranational degree, necessitating the harmonious development of the states by cut downing the differences between many of the parts of difference, and retardation of less-developed countries. As a consequence, were identified common precedences for EU Structural Funds for Economic Development:
1 ) aid in developing and repairing the construction of backward parts ;
2 ) transition of parts that were earnestly affected by industrial diminution ;
3 ) The battle with a dead unemployment ;
4 ) the reform of common agricultural policy ( advancing agricultural parts and repair the construction of agribusiness ) .
Overall, the experience of ordinance of regional development of the EU is really positive and of great practical involvement, including work outing the jobs that will necessarily originate due to the farther integrating and enlargement of the EU.