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Exploring the economic power and challenges of the EU, including disparities in economic needs, hurdles faced in economic management, and the impact of the EU on Europe's economic landscape.
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- The EU operates akin to a federation, sharing currency, policies, and trade deals among 27 states.
- Balancing trade deals and monetary policy within the EU presents challenges due to economic disparities among member states.
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The European Union's Economic Structure and Influence
The European Union operates as a collection of sovereign states sharing a currency and making collective policy decisions, resembling a federation. With a combined GDP close to that of the USA, the EU wields significant economic power globally, impacting countries both within and beyond its borders. However, the EU's complex structure poses challenges, with differences in economic growth among member states and difficulties in balancing trade deals and monetary policy.
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highlights
Listen to the best highlights from the podcasts you love and dive into the full episode