I need some assistance with these assignment. france in the european union Thank you in advance for the help! Fig. 1. shows the wealth profile of France in terms of its GDP over the last decade. The GDP of France in 2014 as reported by the World Bank Group is 2734.95 USD Billion (tradingeconomics.com, 2014). The 10-year bond yield of France has dropped to 1.112 percent (Myanda, 2014). France showed the government deficit as a percentage of GDP of -4.3 and -3.8 in 2013 and 2014 respectively whereas in 2015, it is projected to be -3.1 (OECD Library, 2014). Michel Sapin, the French Finance Minister said that France “would run a budget deficit of 4.3% of the gross domestic product next year—far from the 3% deficit it had previously pledged” (Steinhauser, Dalton, and Fidler, 2014).
The EU came into existence with the aim of bringing an end to the wars between the neighbors. The European Coal and Steel Community started uniting the European countries in 1950 on political and economic grounds with a view to establishing lasting peace (europa.eu, n.d.b). France was one of the six founders of the EU. France saw a host of benefits in joining the EU including a cultural exchange with other countries and economic strength resulting from the eradication of custom duties’ charging while the countries conduct trade with each other. Other benefits including the establishment of joint control over the production of food were also foreseen. In the 1960s, members of the EU not only had enough food to suffice themselves but also had surplus agricultural produce (europa.eu, n.d.b).
Citizens of a member country of the EU are allowed to establish a business in France. Likewise, French nationals are allowed to establish a business in other member countries of the EU. The business can be established in two forms. the freedom to provide services or the freedom of establishment.
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