Question
Outline five characteristics of an economic union form of integration.
Answer
- Free trade in all goods and services
- Freedom of migration
- Single currency in use
- Joint economic institution eg central bank
- Development of common infrastructure
- Free flow of capital
- Common environmental regulations
- No national differences in taxation
- Freedom of migration
- Single currency in use
- Joint economic institution eg central bank
- Development of common infrastructure
- Free flow of capital
- Common environmental regulations
- No national differences in taxation
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