GEOG 002 Lecture Notes - Lecture 4: Common Agricultural Policy, European Central Bank, Budget Of The European Union
23 Dec 2020
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Document Summary
Harmonization of wide range of national laws from taxation to environmental regulations. Introduction of single central bank and single currency with it the power to regulate interest rates and alter fiscal policies that were once the power of member states. Taxes tend to be high in europe, and those collected in the richer member-states are used to subsidize growth and development in the less prosperous ones. This is one of the burdens of membership that is not universally popular in the eu, to say the least. Often, the local governments in these sub regions simply bypass the governments in their national capitals, dealing not only with each other but even with foreign governments as their expanding business networks span the globe. Provinces, states, and other subnational political units on opposite sides of international boundaries can now also cooperate in pursuit of shared economic goals.
