EU Enlargement and Economic Effects

چکیده مقاله

In the late 6th century BC, Heraclitus said that there is nothing permanent except change. This wisdom seems to be very obvious for citizens of the new Member States, given their rich and fascinating history, especially in the recent decades when rapid political, economic and social changes have been taking place. As recently many countries in Central and Eastern Europe were still behind the iron curtain, with little political and economic freedom. Today, they are members of the European Union with established democracies and functioning market economies. In some years they are expected to become members of Economic and Monetary Union.

As we have just experienced the enlargement of the European Union and as we prepare for the future EMU enlargement, I prepared this paper about challenges for

EU enlargement in economic and financial effects in integration.

I will first briefly describe the summary of EU, then the process of enlargement, arguments about EU enlargement, economic crises in        the       enlarged          Europe, and the consequences of EU enlargement.

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