Changes

==Economy==

==Economy==

The institutions of the European Union were originally created to oversee the operation of the several economic communities that later became the Single European Market. Even as the EU’s political integration has continued, the area of greatest integration has always been in the economic sphere: goods, capital, and labor move freely between Member States (with some exceptions), businesses in all Member States are increasingly subject to common basic rules, and fifteen of the 27 Member States use a common currency, the euro. The rest of the states are legally obliged to adopt the euro when their economies meet strict ''Convergence Criteria''. The fifteen Euro-area countries share a common monetary policy administered by the European Central Bank in Frankfurt, Germany. The EU strives to eliminate internal barriers to the free flow of goods, services, labor, and capital, and to promote the overall convergence of living standards. Internationally, the EU aims to strengthen Europe’s trade position and capitalize on the political and economic leverage that a large, unified market brings.  

The institutions of the European Union were originally created to oversee the operation of the several economic communities that later became the Single European Market. Even as the EU’s political integration has continued, the area of greatest integration has always been in the economic sphere: goods, capital, and labor move freely between Member States (with exceptions for goods which pose a public health risk), businesses in all Member States are increasingly subject to common basic rules, and fifteen of the 27 Member States use a common currency, the euro. The rest of the states are legally obliged to adopt the euro when their economies meet strict ''Convergence Criteria''. The fifteen Euro-area countries share a common monetary policy administered by the European Central Bank in Frankfurt, Germany. The EU strives to eliminate internal barriers to the free flow of goods, services, labor, and capital, and to promote the overall convergence of living standards. Internationally, the EU aims to strengthen Europe’s trade position and capitalize on the political and economic leverage that a large, unified market brings.  

===Growth===

===Growth===

===Budget===

===Budget===

The EU’s budget is essentially made up of Member State contributions. Equivalent to roughly one percent of the Member States’ combined gross national income (GNI), it was $123 billion in 2005. The UK receives a rebate on its contribution. In June 2005, the EU failed to agree on a budget plan for 2007 through 2013, due in part to a disagreement between the UK and France over the persistence of the UK budget rebate and the funding of the Common Agricultural Policy (CAP). Costs attributable to the CAP constitute the EU’s largest annual budget item, benefiting farmers across the EU, especially in France. Payments to net-recipient Member States, designed to reduce economic and social disparities among EU countries and regions, are another budget item which has become more contentious with the accession of ten new states poorer than the EU average.  

The EU’s budget is essentially made up of Member State contributions. Equivalent to roughly one percent of the Member States’ combined gross national income (GNI), it was $123 billion in 2005. The UK receives a rebate for some of its contribution, as the CAP benefits the UK less than other states. In June 2005, the EU failed to agree on a budget plan for 2007 through 2013, due in part to a disagreement between the UK and France over the persistence of the UK budget rebate and the funding of the Common Agricultural Policy (CAP). Costs attributable to the CAP constitute the EU’s largest annual budget item, benefiting farmers across the EU, especially in France. Payments to net-recipient Member States, designed to reduce economic and social disparities among EU countries and regions, are another budget item which has become more contentious with the accession of ten new states poorer than the EU average.

==Criticism==

==Criticism==