The european union is the second largest economy in the world in nominal terms after the united states and according to purchasing power parity or ppp after chinathe european unions gdp was estimated to be 188 trillion nominal in 2018 representing 22 of global economy nominal global gdp. Find out about the economy of the european union data table and charts about the eu gross domestic product trade employment gender pay gap renewable energy sources and how consumers make use of online shopping and transport. Structural economic reforms in the euro area economy economic policy economic reforms economic reforms in the goods capital and labour markets which remove barriers to competition and increase market flexibility are essential for the smooth functioning of the economic and monetary union emu. The book we are discussing in this essay is called the european union economics policy and history by susan senior nello this book takes into account the different disciplines of economics policy making and therefore including a great deal of politics and the history of the institution of the european union as we know it today
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