European Union

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it includes all the countries around europe and make a european union

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The European Union:

The European Union

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The EU traces its origins from the European Economic Community (EEC) , formed by 6 countries in 1958. European Union under its current name was reestablished in 1993 The EU is based on the rule of law and democracy. It is neither a new State replacing existing ones nor is it comparable to other international organizations . All decisions and procedures are derived from the basic treaties ratified by the Member States.

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Political union of 27 member states which are located primarily in Europe 7.3% of the world population , the EU generated a nominal GDP of 16,242 billion US dollars in 2010, which represents an estimated 20% of global GDP GDP Per capita $32,537 HDI (2010) 0.835 (very high) Free movement of people, goods, services, and capital.

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The economy of the European Union generates a GDP of over €12.279033 trillion (US$16.2423 trillion in 2010) according to the Intern a tional Monetary Fund (IMF), making it the largest economy in the world.

2011 Country GDP (millions of US$)   World 70,011,680:

2011 Country GDP (millions of US$ ) World 70,011,680 European Union 17,960,206 United States 15,064,816 China, People's Republic of 6,988,470 Japan 5,855,383 Germany 3,628,623 France 2,808,265 Brazil 2,517,927 United Kingdom 2,480,978 Italy 2,245,706 Russia 1,884,903 India 1,843,382

The EU is run by five institutions, each playing a specific role::

The EU is run by five institutions, each playing a specific role: European Parliament elected by the peoples of the Member States Council of the Union composed of the governments of the Member States European Commission driving force and executive body Court of Justice compliance with the law Court of Auditors sound and lawful management of the EU budget

EU and India:

EU and India India is an important trade partner for the EU The EU and India hope to increase their trade in both goods and services and investment through the Free Trade Agreement (FTA) negotiations EU TRADE WITH MAIN PARTNERS (2010)

India – EU Trade Pact 2012:

India – EU Trade Pact 2012 So far, 13 rounds of formal negotiations have taken place since the launch in June 2007. The last round was held in Nov 2011 While the EU wants to gain more access into Indian markets, India is looking at the EU as an important destination for its information technology professionals, architects, engineers, teachers and chefs. The EU had been unrelenting on demands for more tariff concessions in India’s automobile sector , which has resulted in severe opposition from manufacturers in India, who protest that cheaper imports here would mean massive job losses.

EU – India Trade (Goods + Services):

EU – India Trade (Goods + Services)

EU – India (FDI + FPI):

EU – India (FDI + FPI)

THE EURO:

THE EURO The Euro Zone officially called the euro area, is an economic and monetary union (EMU) of 17 European Union (EU) member states that have adopted the euro (€) as their common currency and sole legal tender. Its introduction on January 1, 1999, marked the final phase of Economic and Monetary Union (EMU),

EURO Zone:

EURO Zone The European Central Bank in Frankfurt governs the monetary policy. The introduction of the euro in 2002 replaced several national currencies.

Euro area 17 (fixed composition) - Current account balance - Percentage of GDP:

Euro area 17 (fixed composition) - Current account balance - Percentage of GDP

Government deficit (-) / surplus (+) (as a % of GDP):

Government deficit (-) / surplus (+) (as a % of GDP)

Government debt (as a % of GDP):

Government debt (as a % of GDP)

Unemployment rate (as a % of labour force):

Unemployment rate (as a % of labour force)

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