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The next waves of enlargement will be unprecedented in nature and continental in scale. This process has gained so much political momentum that it is now irreversible. The EU will grow by the decades end to at least 27 member states comprising the largest economic bloc in the world, accounting for 25% of global GDP and incorporating 500 million people within its borders. Of these 500 million people, approximately 3.4 million of them will hold a passport stamped with the word Éire. These are very exciting times for our country, we are now part of the largest economic community the world has ever seen, opening the doors of opportunity for us, the Irish citizens, everywhere we look. Ireland’s membership of the EU is seen by most to be of great benefit to the country as it will solidify the foundations of our economy as well as increase the awareness of Ireland as an investment opportunity for multi national companies; however, some will argue that the change would be detrimental to our nation in the long run. European Community Flag Irish Flag The beneficial aspect of Irish membership can, in most cases, be easily seen in three main areas: The economical advantages are those that are most evident in our nation these days. Consumers want products, products need delivering, deliveries require logistics, and logistics cannot be performed without the proper road network. It is here that EU grants have helped, being instrumental in the upgrading of our road infrastructure, allowing them to cope with the increased flow of traffic created by our now booming “Celtic Tiger” economy. This upgrading has enticed international companies to set up factories on Irish sites, knowing that there is a good road network between air and seaports etc. to facilitate export, although at the current rate of growth, this network will have to be upgraded further to cope with the demand. The introduction of a single market will be of benefit to both consumer and business alike. For the producer, the single market will open up more export opportunities than ever before, allowing more and more Irish companies to sell their goods and provide services in more and more countries around the continent. Ireland’s geographical position in Europe must also be noted when discussing export markets, as Ireland, being on the western periphery of the Union, will make an excellent point for goods being exported to the USA. The consumer will benefit from this market by way of increased product availability and the added bonus of a single currency will make exchange rates a thing of the past. The single currency or European Monetary Union (EMU) is an aspect of EU membership that will greatly affect all people in each of the member states. At the European Council meeting held in Madrid in December 1995, the European Heads of State, decided to call this single currency the Euro, and come January 1st 2002, Euro notes and coins will come into circulation. Until February 28th, there will be a system of dual currency in all member states, and after this date, the National currencies that were will no longer be legal tender and the changeover to the European single currency will be complete. There are 8 euro coins denominated in 1 and 2 euros, then 50, 20, 10, 5, 2 and 1 cents. Every euro coin will carry a common European face and on the obverse, each Member State will decorate the coins with their own motifs. No matter which motif is on the coins they can be used anywhere inside any of the Member States. For example, a French citizen will be able to buy a hot dog in Dublin using a euro coin carrying the imprint of the King of Spain. There are 7 euro notes, each in different colours and sizes. They are denominated in 500, 200, 100, 50, 20, 10 and 5 euros. The notes will be uniform throughout the euro area so unlike coins, they will have no national side. Since January 1st, 1999, all member states had the conversion rate between the Euro and their respective currencies irrevocably fixed. In Ireland, one Euro (€1) is worth IR£ 0.787564; thus making one Euro equal to approximately 79p. Signs like this one will be shown in Irish stores between January 1st and February 28th 2002 The social advantages can be seen in many different ways. The opening of borders, especially those around countries on the main continent of Europe, is a great advantage. The freedom with which we can now travel between member states allows exciting opportunities for both work and leisure alike. Business can be conducted between states more easily and people will find themselves going abroad on holidays more often, as it will be as straightforward as taking a break in our own country. Membership of the EU will open our eyes to the wide range of cultural diversity that exists throughout Europe, and we will learn about other countries in a more in depth way than ever before. Soon, more people will be travelling between member states Europe’s power as a political body will strengthen the systems in each of the individual member states, taking over some of the major decisions and regulating tax rates, etc. as well as setting out guidelines for each state to adhere to, for the benefit of the community as a whole. Being part of the EU will give weight to Ireland’s political status all over the world. The EU rapid reaction military force has quickly taken shape, and Ireland will be a full participant in this exercise. This will provide an ongoing upgrading of our defence force capacity, something that should have been done years ago. Although there are many advantages to Irish membership of the EU, there are as many arguments to the contrary, dealing with the same key areas: Disadvantages from an economic aspect include policies affecting such areas as fishing, where restrictions and quotas could stop Irish fishermen being able to trawl to the best of their ability, thus reducing the amount of revenue gained from this sector. It is evident that our country has benefited greatly from EU grants by way of road upgrading and farming subsidies but this decade will see Ireland will move from being a net recipient to being a net contributor. The EU has made an investment in this country and its economy and now quite rightly expects a return on said investment. We will see cohesion and structural funds disappear as a consequence of our increasing wealth. Potential disadvantages from a political aspect are that Ireland will no longer be considered a neutral republic, and will be required to comply with whatever decisions are made by the EU for the good of the community, even if this takes our country into war. The removal of borders will make it easier for people to do business between member states, but there are some forms of business that are unwanted such as drugs and smuggling. Some argue that removing these borders only facilitates the moving of such illegal activities. The EU has the main decision-making power for the benefit of the community as a whole, and any steps taken outside the set guidelines will not be tolerated. We were served a reminder of this recently as our own Minister for Finance Charlie McCreevy unveiled his plans for the budget, showing a considerable reduction in some tax areas. It was argued that the tax cut would cause inflation to rise faster than the pre-determined rate that the EU had planned in its budget (which is set until 2006). Minister McCreevy was informed of this, showing that the balance of power in this country has shifted since joining the EU and many people disagree with this. Socially, some people believe that Irish membership of the EU will lead to a loss of identity and a loss of our heritage. Irish is not an official language of the EU and many believe that this will lead to its further decline. It is said that membership of the EU is a threat to cultural diversity between member states, but the EU commission argue that membership along with EMU and the Euro will not be a threat to this as it will not affect the languages people speak, the books they read, the sports they play, their history, folk memories, customs or traditions. The European Union consists of a wide range of cultural diversities Having completed this assignment, I feel that I have gained a great deal of knowledge about the European Community and how it will affect our country. In my own opinion, I would feel that, overall, Ireland’s membership of the EU is a great asset to the country. Being part of the EU will give untold opportunities to both consumer and employer alike, where a single market linked with a single currency pave the way for great expansion, leading to a great benefit to all. These benefits can already be seen around us, as the amount of traffic in our skies has increased, the cost of European air travel has plummeted, which can only be good for us, the consumer. The member states of Europe show the finest example of understanding, cooperation and jointly exercised democracy that the world has ever seen, and Western Europe has never enjoyed such a long period of peace as it does today. European citizens have the right to travel, settle, work and study freely in any of the member states giving a great opportunity for students like myself to experience different cultures. While working in any of the member states all people are protected by the Community Charter of the Fundamental Social Rights of Workers, which strives to bring social security systems in line with each other, vital when it is considered that the per capita social expenditure of a country like the Netherlands is twice as high as that of Portugal. The European Union members speak together with one voice on such matter as energy and pollution and the research budget for the community is so great that it will lead to great advancements in technology. and I am glad that Ireland is a part of it. Bibliography: References: In completing this assignment, I gained information from the following sources: Lecture notes Mr. Ciarán Coleman European Investment Bank Internet site http://www.eib.org European Union Internet site http://www.europa.eu Business and Finance Dated 11th January 2001 http://www.businessandfinance.ie Word Count: 1820
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