Варіант 7. Customs union. Common market

CUSTOMS UNION. COMMON MARKET. ECONOMIC UNION.

1. A customs union is one step further along the road to full economic and political integration. A customs union eliminates trade barriers between member-countries and adopts a common external trade policy. Establishment of a common external trade policy necessitates significant administrative machinery to oversee trade relations with nonmembers. Most countries that enter a customs union desire even greater economic integration down the road. The EU began as a customs union and has moved beyond this stage.

2. Like a customs union, a theoretically ideal common market has no barriers to trade between member-countries and a common external trade policy. Unlike in a customs union, in a common market factors of production also are allowed to move freely between member-countries. Thus labour and capital are free to move, as there are no restrictions on immigration, emigration, or cross-border flows of capital between member-countries. Hence, a much closer union is envisaged in a common market than in a customs union. The EU is currently a common market, although its goal is full economic union. Other than the EU, no successful common market has been established, although several regional groupings have aspired to this goal. Establishing a common market demands a significant degree of harmony and cooperation in fiscal, monetary, and employment policies. Achieving this degree of cooperation has proven to be very difficult.

3. An economic union entails even closer economic integration and cooperation than a common market. Like the common market, an economic union involves free products and factors of production between member-countries and the adoption of a common external trade policy. Unlike a common market, a full economic union also requires a common currency, harmonization of the member-countries rates, and a common monetary and fiscal policy. Such a high degree of integration demands a coordinating bureaucracy and member-countries sacrificing significant amounts of their national sovereignties to that bureaucracy. The EU has established itself as the one.

I. Знайдіть у тексті та випишіть еквіваленти таких слів та словосполучень:

знімати бар’єри; зовнішня політика, обмеження, вимагати адміністративний механізм;

співпраця в грошовій та фінансовій політиці; фактори виробництва; єдина валюта.

Найдите в тексте и выпишите эквиваленты следующих слов и словосочетаний:

снимать барьери; внешняя политика, ограничения, требовать административный

механизм; сотрудничество в монетарной и финансовой политике; факторы

производства; единая валюта

II. Перекладіть письмово абзац 2.

Переведите письменно абзац 2.

III. Випишіть з тексту дієслівні форми, що закінчуються на -ing. Визначте,чі це Gerund

або Present Participle та перекладіть їх.

Выпишите из текста формы глагола, заканчивающиеся на-ing. Определите, что это -

Gerund или Present Participle и переведите их.

IV. Поставте 5 запитань до абзацу 3 та запишіть їх.

Поставьте 5 вопросов к абзацу 3 и запишите их.

V. Дайте письмові відповіді на запитання.

Письменно ответьте на вопросы.

1. What distinguishes a Common Market from a Customs Union?

2. What does an Economic Union require?

Дата добавления: 2015-07-14