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III. European Union
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A. Western Europe Today All Western European countries are democracies today European Union – Organization created in 2001 to encourage trade Best hope for keeping peace and prosperity in Europe
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Original Members
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B. EU Economics Currency – System of money used in a country
EU made trade easier by making one currency for all its members Euro – Money that is used by the EU
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Question: What is the benefit of the Euro in Europe?
Money no longer has to be exchange every time that people cross a boarder
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C. Improved Trade Tariff – Tax on imported goods
Import – Goods that are going into a country Export – Goods that are going out of a country EU has done away with tariffs to make products cheaper
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D. Standard of Living Standard of Living – The quality of a person’s life Measurements of standard of living Life expectance Having enough food Literacy Rates – Number of people who are able to read
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World Literacy Rate
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EU has increased wealth and the standard of living throughout Europe
EU has also taken steps to decrease pollution throughout Europe Court of Justice – EU’s court that protects the rights of all citizens of member countries
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