Get premium membership and access revision papers with marking schemes, video lessons and live classes.

Processing. Please wait.

Role of the European Union in the economy of Europe.

Answer Text:
Role of the EU in the Economy of Europe.
- Expansion of trade: This has occurred due to the creation of the internal market and adoption of a common currency.
- Finance: The union has established financial institutions e.g the European Investments Bank (E.I.B).
- Expansion of labour market: It has promoted free movement of workers in the region.
- Promotion of agriculture: It has promoted agriculture in the region by giving grants to members and subsidizing farm produce.
This has made their farm products to be highly competitive on the world market.