A Theoretical View of the Current Situation on Economic Integration in the EU Countries that are not Part of the Eurozone

Abstract

The European Union (EU) has developed dramatically in the last two decades as new member nations have joined. Since the establishment of the EU Single Market, the number of EU member states has increased from 12 to 28 (27 after Brexit).The process of European Union integration of the countries of Southeast Europe has brought a lot of progress, but again the real convergence in terms of real GDP per capita remains a current challenge.In this paper, we will look at the main types of integrations that embrace different countries in different situations. One of the most important processes that affect the economic development of these countries is economic integration. During this process, member countries agree to coordinate their trade and fiscal/monetary policies.

Received: 2 June 2021 / Accepted: 10 July 2021 / Published: 15 July 2021