ECON 3807 Lecture Notes - Lecture 4: Externality, Fiscal Federalism, Marginal Cost
4 Oct 2016
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Document Summary
Prior to 2002, all documents and treaties were based off each other. In 2002, the eu decided that they should come together to create an agreement that was all encompassing. Treaties signed prior to 2002 were effective in terms of economic stability but not in political stability. Council in 2004 drafted the constitution treaty, when they had 24 members that all found it acceptable unanimity vote. Nations believed that it was time that the eu came to act more efficiently. Lisbon treaty, not only tried to adhere to the old treaties but implement some articles from the constitutional treaty. Lisbon treaty is a constitution for the eu. Court rulings of the eu continue to supersede court rulings at the national level. Accept capitalist market economy but want to make sure that their social values are preserved, canada similar in this approach.
