III. Economic growth as measured by GDP and economic convergence
VI. Pre crisis Convergence VI.I Integration and suppression of trade barriers VI.II Monetary union and single currency VI.III Macro economical stability
V. After crisis convergence
VI. Globalization employment and industry
The creation of the EU has been highly controversial, recent critics have arisen specially as a result of the actual economic crisis, that has highlighted Europe’s structural deficiencies and has posed questions of whether Europe’s creation has been beneficial or not to its members.
This thesis focus on the concept of convergence, examining if the reduction of disparities between the EU countries are indeed taking place and what are the most contributing factors to this process. Empirical evidence on EU’s growth is included in order to analyze how European incorporations have changed the convergence process. Finally, we also highlight several structural limits as the reasons that might explain why this process has been slowed down.
Europe has experienced a process of unprecedented growth since the the implementation of the ECSC in 1951 and the Treaty of Rome n 1957 until the creation of the European Union through the Treaty of Maastricht in 1992). Empirical data, such as GDP growth, supports that this process has led to a significant reduction in poverty and to economic progress.
However this economic growth has not affected all the European countries in the same way, and this process has not always registered an upwards trend.
“Europe, as the rest of the world was. Has also been afflicted by the so called internal and international crisis; and yet when we examine the 1970-2007 period we can speak of economic success.”
Historically, European nations have been divided between the North and the South,
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