In: Business and Management. A discussion of the subsequent development of the EC thereafter forms the main body of this work and the staged development of the EC through subsequent amending treaties provides the focus of the analysis offered. A brief historical survey of the European Economic Community The European Community of sees its origins in the six member European Economic Community formed by the ratification of the Treaty of Rome in The signatory member states were France, Germany, Italy and the Benelux states. It is submitted at the outset that the EEC was founded largely on fear. It is hard to appreciate from the perspective of , exactly what motivated the founding fathers of the Treaty of Rome to pursue integration because the world has moved on, but in the s the base motivation was manifest and pressing.
Current Greek government, however, took a step to prevent foreign investors to have cold feet. New government announced that for the next three years, there will be no VAT collection on property investments. This makes Greek real estate market much more desirable now. Newly elected Prime Minister Kyriakos Mitsotakis of the center-right New Democracy party has presented a tax reform that concerns all tax-payers of Greece; however, the main subject of the bill is the people in the real estate sector. With the new tax bill, this high percentage will be eliminated, and thus, the foreign interest in Greek real estate will inevitably go up. In addition to the fact that foreign investments in Greek property increased in recent years, new tax bill is predicted to cause a boom in foreign interest in Greek real estate market.
Why the European Monetary Union Is so Controversial
Ancient Minoan Trade. The sea was a defense and a source of food for the Ancient Minoans. The sea was also the key to the great success the Minoans had as traders. Yes, the Phoenicians and others on the mainland had successful trading enterprises, but sea trade was easier and cheaper.
Comparative advantage is an economic law, dating back to the early s, that demonstrates the ways in which protectionism or mercantilism as it was called at the time is unnecessary in free trade. Popularized by David Ricardo , comparative advantage argues that free trade works even if one partner in a deal holds absolute advantage in all areas of production — that is, one partner makes products cheaper, better and faster than its trading partner. The primary fear for nations entering free trade is that they will be out-produced by a country with an absolute advantage in several areas, which would lead to imports but no exports.
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