| 单词 | European economic integration |
| 释义 | European economic integration The process by which the various countries of Europe are becoming more closely linked, particularly in trade and finance. This is partly the result of natural economic developments: trade through the rise of intraindustry trade, which is increasingly important in industrialized countries situated close together, and financial links via the general move to financial deregulation and the abolition of exchange controls. Integration has also been promoted by deliberate policy, through the formation of numerous European institutions, including the European Community (EC), now the European Union (EU), the European Free Trade Association (EFTA), and the European Monetary Union (EMU), with the Euro as a common European currency. Several Eastern European and Mediterranean countries joined the EU in 2004, and further integration will follow if and when Bulgaria, Romania and Turkey join. |
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