what is the European economic union?

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what is the European economic union?

2007-08-23 06:03:29 · 2 answers · asked by Raul P 2 in Social Science ➔ Economics

2 answers

A group of European countries that have agreed on a lot of economic and trade issues to get ride of the barriers. (Kind of like a super North American Free Trade Agreement - NAFTA) They agree to the same product standards, allow labour from each other to work in their country without a bunch of red tape, and use the same currency in the Euro.

2007-08-23 06:46:45 · answer #1 · answered by JuanB 7 · 0⤊ 0⤋

It sounds like a mangling of the older name "European Economic Community" for what is now the "European Union"

2007-08-23 13:10:40 · answer #2 · answered by CanProf 7 · 0⤊ 0⤋