European Union is an economic and political union established to support 28 member states. By joining the EU member states, countries can increase GDP growth and prosperity.
This article provides you with the pros and cons of the EU to evaluate before buying a membership.
1. Influence on international matters: Joining the EU member states opens the opportunity to become one of the influential blocks in 500 million people in the 28 member states. This helps the member states become more influential in regard to individual matters.
2. Increased security: Over the last eight years, there have been security concerns on increase in terrorism and refugee movements. Constant communication of governments involved in the EU has led to improved security.
3. Growth: Investors are willing to invest in businesses within the EU because of trading advantages created by the member states. Working together in the EU, members can negotiate trading terms with other investors across the world.
4. Maintaining individual sovereignty: Each member state should maintain individual sovereignty since the member states have unique political considerations. Members are free to leave the EU member state at any time.
5. Leverage to better trade agreements: Due to a large customer base and purchase of items at low prices, the EU provides leverage for better trade deals.
6. Job opportunities: EU has resulted in the establishment of various job opportunities. Companies with access to the European market grow faster-creating jobs for local communities.
7. Easy travel throughout Europe: The growth of the EU in member states had made traveling within Europe much easier. There are areas in Europe with no border controls and land crossings.
8. Save money: Due to better product deals, consumers can purchase products at reduced prices thus saving money.
9. Reduce discrimination: EU promotes human rights for all. The EU laws and regulations ensure there is no discrimination at all levels.
10. Modernization of countries: Membership in the EU, countries will have a greater commitment to a market-based economy, human rights and follow a certain rule of law in operation. This helps modernize the countries.
1. Insufficient policies: The CAP reforms were established to benefit the landowners instead of offering social benefits. Agricultural market policies put minimum prices on food resulting in high prices for consumers and this encourages over-supply.
2. Cost: The cost of EU membership is high and the contributions vary each year. UK has contributed 13.1 billion pounds whereas the EU spent 4.5 billion pounds on the public sector.
3. Few controls on individual laws: There are certain border control policies at each member-state level. There are strict security protocols and tight border controls but there are few controls to individual regulations.
4. Reduced forms of border controls: EU restricts some forms of border controls. A treaty established in 1985 reduced border checks at the common borders thus vehicles can pass without inspection.
5. Slow bureaucracy with the EU: There is a lot of bureaucracy in joining the EU making the process slow. It may take several years for the changes to occur.
6. Increased taxation: There are increased fees and costs to cover certain needs of the union. Added taxes are passed on to the consumers to help in paying those costs.
7. Lack of transparency: There is no transparency in the election of the European Commission. People have no say on who represents them since the European Commission has the authority to influence others.
8. Net migration: Immigration of people to foreign lands has led to congestion of people in some countries resulting in congestion on roads and increased house prices.
9. Euro currency problems: Emphasis on the use of a single currency has contributed to the low rate of economic growth.
10. Limits individual influence at the international level: EU laws and regulations are counterintuitive to the requirements of specific nations. The member state nations operate for the benefit of all without considering the welfare of a single nation.