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European Business Environment - Assignment Example

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In the paper “European Business Environment” the author discusses the issue when the United Kingdom was refused admittance to the European Economic Community on two occasions in 1963 and 1967, because of the objection raised by the French President Charles de Gaulle, who was skeptical of UK's political will…
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European Business Environment
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Download file to see previous pages The EU makes legislation that has to be implemented by twenty – seven Member States. Despite the fact that ministers of the United Kingdom actively participate in the discussions stage and in decision making, the fact remains that all the Member States collectively arrive at the final decision.
The European Economic Community was founded by the Treaty of Rome on the 25th of March, 1957. Its preamble states that a major goal or the EEC was to abolish international trade restrictions adopting a suitable commercial policy. However, this was never achieved, because, the purpose of forming the EEC was to empower the Member States against its economic rivals who did not belong to the EEC. An extreme example of such protectionism is the recent imposition of a five percent tariff on footwear originating in China and Vietnam, ostensibly to prevent dumping. Nevertheless, this has always been the excuse trotted out by the EU in order to protect sub-standard businesses and manufacturers belonging to it (Hannan).
The British M.P Hannan is of the opinion that the outcome of these measures adopted by the EU is to compel consumers in the United Kingdom to support goods of a lower quality that have been produced in Continental Europe. This effect is predominant in the areas of agriculture, vehicles, steel, and textiles. He also stated that from the day that the UK joined the EU it had abrogated its commercial policy and has been under the control of the EU (Hannan).
In order to adopt and implement the European Union’s draft Constitution, all twenty – seven Member States have to ratify it. The European Union is committed to unifying all the nations in Europe. In order to ensure that the EU develops into a competitive market in the world, it adopted a single currency under the European Central Bank or the ECB. This all-important endeavor was initiated. ...Download file to see next pagesRead More
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