INTEGRATION IN EUROPE

European Union

i. European monetary union

ii. Enlargement of the European Union

iii. Structure of the European Union

European Monetary Union - The European Union that established its own central bank and

currency.

Enlargement of the European Union – 15 to 25 (May 2004)

Some certain demands (Copenhagen Criteria):

 Has stable institutions (democracy, law, Human Rights, Minorities)

 Market Economy

 Is able to assume the obligations of membership (economic, monetary, political union)

 Adopt the rules and regulations of the community

Structure of the European Union

 European Parliament

 Council of the European Union

 European Commission

 Court of Justice

 Court of Auditors

European Free Trade Association (EFTA)

INTEGRATION IN AMERICA

 North American Free Trade Agreement (NAFTA)

 Andean Community - Main Objectives: Tariff Reduction for Trade and Common

Policies

 Latin American Integration Association (ALADI): Includes 5 South American Countries;

Bolivia, Colombia, Ecuador, Peru and Venezuela. Its main objective is the establishment

of a common market, in pursuit of the economic and social development of the region.

 Southern Common Market (MERCOSUR): Customs Union. Members: Argentina, Brazil,

Paraguay, Uruguay and Venezuela.

 Central America and the Caribbean: Caribbean Community & Common Market and

Central American Common Market.

 Free Trade Area of the Americas (FTAA): Anti & Barbuda, Argentina, Bahamas,

Barbados, Belize, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Dominica etc.

 Transatlantic Economic Partnership (TEP): The Transatlantic between US and EU