Based on your knowledge of international trade organizations, answer the following question.

Which of the following statements correctly describes the European Union (EU) ? Check all that apply.

a. Breaking down trade barriers within Europe has reduced economies of scale, making European companies less competitive.

b. The global financial crisis of 2008 threatened the EU by exposing differences in the economic strength of its member states.

c. All EU member states have similar levels of debt and experience similar rates of unemployment.

d. The EU introduced the euro, a common currency that facilitates travel, trade, and investment.

b. The global financial crisis of 2008 threatened the EU by exposing differences in the economic strength of its member states.

d. The EU introduced the euro, a common currency that facilitates travel, trade, and investment.

Explanation:

Trade of factors and finished goods increased exponentially over the couse of the years after implementing the Euro

This makes possible a lot of new project and investment as it was a strong currency with virtually no risk of devaluation thus, very reliable. In the past, European currency will tend into depreciation and inflation. This doesn't occur with the Euro

Also whe nthe 2008 sub-prime crisis hit we manage to discover the great difference between the central power and the other nations such as ireland, spain, greece and portugal This were called (PIGS)

However is important to notice how Ireland has manage to leave those problem behind with a serious of reform after the crisis.