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The Lisbon Treaty was initially introduced to increase the coherence and the consistency of the external actions of the European Union. (The Lisbon Treaty) According to Langenhove (2008), the need for a treaty was felt after the last two enlargement processes of the EU in 2004 and 2007, Let us write or edit the essay on your topic "European Political Economy" with a personal 20% discount.. Try it now whereby the member states increased from 15 to 27. The treaty consists of certain reforms that are aimed at making the European Union more democratic and efficient. The structural reforms of the EU, as Langenhove (2008) relates, consist of a new means of quantitative majority voting, a better distinction between the different competencies and an increased role for the national parliaments in the process of the co-decision when it comes to trading policies. Also it includes the idea that the European countries would be able to select their own president for the European Council.
Lisbon Treaty is expected to affect the economic integration of the member states of the European Union. The external trade policy is one economic aspect that the treaty focuses on. According to Woolcock (2008) the external trade policy after the treaty would no longer be decided by mixed agreements or the individual national parliaments. Rather it would be a part of the EU’s external actions. The treaty also brings all the key aspects of the trade policy under the EU competence which means that the commission would be responsible for all the trade related policies. This power in the past was under the national parliaments. Woolcock (2008) argues that this would lead the member states to have unanimous decisions over the economic policies. The inclusion of the Foreign Direct Investment in the EU competence is also one of the major steps taken in the Lisbon Treaty which ensures that the member states will have a comprehensive approach to the trade and investment in the world
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Secondly, European infrastructure is integrated and supported by these structural funds. In addition, the transport sector is especially supported by these structural funds from the European Union.
In this regard, budgeting is done by the European Union concerning the abovementioned funds, which play a crucial role in distributing the European Union's budget in needed and essential sectors of the continent.
In this regard, regional representation has blossomed from two regional offices in 1985 to 165 in 2000. What does this imply and where is it leading the EU - towards convergence through the structuring of an appropriate platform for the sharing of ideas and resources; or towards divergence through the creation of separate regional identities Let us find out.
The EU has formulated a"single market"by means of a standardized system of laws applicable in all member states, assuring the'freedom of movement of people, goods, services and capital'.It preserves a common trade policy,agricultural andfisheriespolicies,and a regional development policy.Fifteen member states have implemented a common currency, theeuro.
The major obstacles which the union has to experience basically derives from Asian market, the regional market has given competition to the union members in industrial and financial traits. The scope of the problem is not just confine to the American imports inside EU countries; rather it is the Asian market which has flooded the European market with its cheap and qualitative standards.
Few political economic trends have been as controversial as has Thatcherism and hardly any British prime ministers possess as debatable a legacy as does Margaret Thatcher. Although ousted from power by he own Conservative Party close to two decades ago, Thatcherism and Thatcher's legacy remain as divisive a subject today as they were throughput the 1980s.
lation of 500 million citizens, the EU collectively generates an approximated 30% share of the global nominal gross domestic product with US$16.8 trillion in 2007. The EU has formulated a “single market” by means of a standardized system of laws applicable in all member
ving process of integration, the EU went through at least four of Balassa’s stages of economic integration – namely, Free Trade Area, Customs Union, Common Market and Economic Union – while it is still unclear whether the EU is prepared and able to reach the fifth stage of
The relationship between politics and economics are interrelated in that they affect each other by either controlling the policies or practices. This is essay will dwell on the three main challenges facing the International Political Economy the roots, causes and possible remedies that could solve these issues .
According to Pihlstrom, ontology deals with the determination of whether various categories of being are fundamental in addition to seeking the sense in which categories of being are said to be1. People know reality through the study of knowledge and understanding. Philosophers
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