Economic and Monetary Union of Europe The main reason for creating a European Market was the growing international competitiveness. In the mid of the eighties the European countries recognized that in the long run the national economies alone won't be able to compete against countries like the US, Japan and the new industrial centers in East Asia. The biggest advantage of the European integration is the unique chance of causing significant economic growth in the member countries by abolishing all kinds of barriers e.g. customs controls, trade restrictions, liberation of the movement of capital, tax harmonization, and by the opening of the financial market, a common trade policy, a common service market, common legal protection of companies and so on. The two countries who support the European integration most (at l....

Number Of Pages: 4

Number Of Words: 911

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