Economic Arguments for Further Enlargement of the EU Essay

Economic Arguments for Further Enlargement of the EU - Essay Example It is important to give a clarification of the above-mentioned phrase ‘further enlargement of the EU’ before I embark on the economic arguments about this move. Further enlargement of the European Union means the introduction of more new members in the union, a process that is well stipulated by the EU policies. The number of countries willing to join the European Union has been rapidly increasing since the 1990s with the most recent members to join the block being Croatia. The European Union has a very concise and clear policy that stipulates the requirements that a country applying for membership has to meet. This policy also referred to as the Union’s acquis communautaire and contains rules and regulations that applicants must follow with the main aim of the policy being to prevent rise of any conflict in the future. The countries have also to meet the criterion that was introduced in Copenhagen fully. The Copenhagen criterion was introduced primarily to cover political and economic aspects of the candidates or what scholars refer to as ‘democratic credentials and economic competitiveness’.   Deepening of the economy of the European Union is among the economic arguments that are highly outlined by economic experts. This is a call for an integration of the economy of the member states commonly termed as ‘having the Full Economic Union’. This would lead to a common market and an entire unification of the current fiscal and monetary policies.