What Is the EU? A Redistribution and Trade Engine with a Political Element

Chapter

Abstract

Considering what appears to be a lack of knowledge in certain parts of the public sphere with regard to the workings of the EU, in this chapter Welfens not only provides a brief discussion of the main institutions of the EU, and the European Commission in particular—which is central with regard to external trade—but also sheds some light on the EU inadequate budget, dispelling some budget-related myths along the way but also drawing attention to some of the weaknesses of the EU where improvements could be made. Welfens asks the question of why countries contribute to the EU and who will compensate for the UK’s contributions to the EU budget going forward.

References

Copyright information

© The Author(s) 2017

Authors and Affiliations

  1. 1.Faculty of Economics and Social SciencesBergischen Universität WuppertalWuppertalGermany

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