The economic dimension of the European integration process is by far the most sophisticated area of cooperation among the member states, with the common market and, for some, the common currency. This means that national economies are interlinked in a variety of ways and several economic policy areas are no longer exclusively in the hands of these member states any longer. Learn here about the major steps of economic integration and the introduction of the euro (€) which is now the common currency in 13 of the member states.

Learning Objectives

  1. Identify the foundation of the Internal Market and its legal framework.
  2. Find out what the major steps of the economic integration process have been.
  3. Understand the process of introducing the euro (€) and its implications for the Euro-zone member states.

Study Guide

  1. Print pdf version of study guide.
  2. Identify the foundation of the Internal Market and its legal framework, including for example the four freedom of movement.
  3. Identify the major steps of the economic integration process.
  4. Go to European Union Resource Online Guide and read “II. European Monetary Union.” Read also the EU's information on the Euro.
  5. Visit the European Central Bank.