19.8.2. Commentary and Notes to Text 19.8.1

1. весомый пример — weighty example

2. на рубеже веков — at the turn of the century

3. самодостаточный... торговый блок — self-sufficient trade bloc

4. хорошо налаженные торговые связи — well-established economic ties

5. попытки оживлять — attempts to revive

6. способ достижения — the way of achieving

7. найти точку опоры — to gain a foothold

8. порочный круг — vicious circle

9. бедность — poverty

10. неудачи — failures

11. подготовительная стадия — preparatory stage

12. в подлинном виде — in a true, genuine form

19.9. Oral Practice. Round Table

Hold a business discussion.

We have observed various international agreements relating to economic integration. We have

found out that in spite of different levels of national economic development practically all regional

associations of states pursue the same or similar ends.

Applying your knowledge of general trends of the world economic integration and making use

of the information given in this unit, answer the following questions:

1. In what way are the advantages of economies of scale realized?

2. What are the primary motives for creating the regional common markets?

3. Do free economic zones and other forms of economic integration create a favorable environment

for solving the complex socio-economic problems of member nations (e.g., unemployment)?

19.10. Written Practice

Write an essay of about 300-350 words on the unit.

288

Unit 20. The European Union. The European

Monetary Policy

20.1. Preview Basic notions

This unit will discuss the largest integration system principl of thee

world — the European Union (EU) which n u m b e r s 2 6 Epuorloicpyean

countries. It was formed by th r e e i n te r n a t i o n a l osrygasntizeatmions:

the European Coal a n d S te e l C om m u ni ty (EtCeSCn), Edureatorm —

the E u r o p e a n A t o m i c E n e r g yd Ceomc mi suni iotyn, a n(dd theec r e e )

settlement

We will learn how decisions are made in the European Union

(EU), what advantages the economic integration gives the member

countries; we are also going to gain some information about

the European car industry.

20.2. Warm-up

Before you start reading the unit think and try to answer the following questions:

1. What is known to you about the formation history of the European Union?

2. Which five institutional bodies execute management of the European Union?

3. In what way are decisions made in the European Union?

4. When was the programme for establishing a political, economic, and monetary union with a

single currency adopted?

5. How was a transfer of European countries to a common currency exercised?

20.3. Rapid Reading (skimming, scanning, reading for general understanding

of the basic Text 20.4)

Work in pairs or small groups.

1. Quickly skim the text to find the part of it relating to the Treaty of Rome. Tell your partner or

the group about the number of countries which signed the Treaty.

2. Scan the text to find which European organizations made the basis of the European Union.

What were the names of those organizations? Tell your partner about them.

3. Skim the text to find the paragraph where you can read about the Single European Act (1986).

4. Tell you partner which information seems excessive to you.

20.4. Basic Text. The European Union

The firststep in European integration was taken when six countries of Western Europe —

France, West Germany, Italy, Belgium, the Netherlands, and Luxembourg — signed the Treaty

of Rome in 1957 for the creation between them of a Customs Union or Common Market. By

this Treaty the European Economic Community (EEC) came into force on 1 January 1958. The

Treaty of Rome was subsequently amended by the Treaties of Maastricht (1992) and Amsterdam

(1997) and Nice (2001).

The primary aims of the Treaty of Rome were the elimination of all obstacles to the free movement

of goods, services, capital, and labour between the member countries and the setting up of a

common external commercial policy, a common agricultural policy, and a common transport pol-

European

Economic

Community

(EEC).

solution

right