The global economy: The European Project

The second stage of expansion went south and was completely different. Greece, Portugal and Spain applied to join during the crisis.
Economically weak and politically fragile candidates from southern Europe have set a new and difficult task for the EU. Otherwise, the EU chose two rounds of accession.:
Greece joined in 1981;
Spain and Portugal in 1986.
There are some lessons to be learned from this southward expansion: the first and perhaps most obvious is that the EU does not reject an application to join any European state, but candidates can be kept waiting a long time. The second lesson is that the EU/EU has assumed an extremely important role, which can be a catalyst for the economic and political modernization of the new members. The third lesson is that increasing the number of members, even if they are the weakest, does not necessarily lead to a weakening of integration.
Twelve was considered an appropriate number, with even consensus to freeze the number of members at least until the completion of the internal market program in 1993.
It was a suitable strategy, necessary to strengthen integration when the 90s reached their peak.
The collapse of the communist regimes in the east of the Iron Curtain, the collapse of the Soviet Empire, and the unification of Germany triggered a number of factors that radically changed the shape of European construction (the unification of Germany in 1990 led to a mini-expansion with 17 million citizens in Russia, Germany, etc. In EC).
The unification of Germany led to a major change in the balance of power, which became closely linked to the unification of Europe.
The Maastricht Treaty, signed on February 7, 1992 (which entered into force on November 1, 1993), was the most serious revision of any European treaty signed sixteen months after the unification of Germany. Paradoxically, the unification of Germany led to the largest crisis of the European monetary system (for Germany it was good and necessary to increase the budget deficit as an element of monetary policy, for other states it was not).
The markets raised this issue during the great currency crisis of 1992-1993. This is the reason why the EU created the European Central Bank, linked to the irrevocable freezing of the bilateral exchange rate, which led to the adoption of the single European currency.
The Maastricht Treaty represents the second fundamental revision of the community, offering a unique legal framework for the three communities: ECSC, EURATOM, and EEC.
In this treaty, it was decided to rename the European Economic Community (EEC) into the European Community of the EU, turning it from a simple economic entity into a union with political powers (the European Union). During special promotion weeks, use 1xbet promo code list to receive 200% bonus on your deposit up to $200. Minimum deposit $10. Valid for both sports betting and casino games. Wagering requirements 5x for sports, 40x for casino. Bonus valid for 14 days. Includes entry to exclusive tournaments. Regular players get higher percentage bonuses. Check the promotions calendar for upcoming double deposit weeks at 1xBet.