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Chapter 5 ( Multilateral organisations and regional integration), It does…

- - - - Handling disputes
      - Making life easier for all participants ( principle of non-discrimination)
      - lower tariffs for one WTO member country you must do so for
        all WTO members
      - Raising incomes, generating jobs and stimulating economic growth
    - - The umbrella agreement establishing the WTO
      - The old GATT agreement covering international trade of goods
      - A new agreement covering the trade in services
      - An agreement covering intellectual property rights
      - Trade dispute settlement mechanisms
      - Trade policy review for looking at an individual country’s trade
        policies
    - - The Doha development agenda
      - Trade dispute settlement
- - - - encouraged the movement of EU students
      - Tighter for non EUs (schengen area)
    - - regulate mergers/ acquisitions
    - - removed most internal trade barriers between member countries
      - four freedoms: free movement
        of people, goods, services and capital
    - - easier for companies and individuals so save the cost and risks of converting currencies
      - easier to compare prices across Europe
      - should boost the development of
        a highly liquid pan-European capital market
      - provide a greater range of investment options to individuals and
        institutions
      - countries lose control over monetary systems
      - Due to the diff in economic structure of some nations a shock may have different effects on different countries