The importance of the European Union

Joining the EU is as big of an act as anything that acted towards liberalization. This locked France into lines of policy from which previous governments might have shied away from they had not been forced by EU agreements and institutions. The EU is equipped with regulations to open markets but few resources to intervene in limiting their effects. The EU has committed to expanding the role of markets in the allocation of these resources. The EU is continually maneuvering Europe into a competitive market model, yet one that has room for with multiple avenues of production and various types of welfare states.
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