The economy of the European Union generates a GDP of over €12.629 trillion (US$17.578 trillion in 2011) according to the International Monetary Fund (IMF), making it the largest economy in the world. The European Union (EU) economy consists of a Internal Market and the EU is represented as a unified entity in the World Trade Organization (WTO).
Read more about Economy Of The European Union: Currency, Budget, Economic Variation, Economies of Member States, Economic Growth, Energy Resources, Trade, Unemployment, Industries, Companies, Gini Index, Regional Variation
Famous quotes containing the words economy, european and/or union:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Americans want action for their money. They are fascinated by its self-reproducing qualities if it’s put to work.... Gold-hoarding goes against the American grain; it fits in better with European pessimism than with America’s traditional optimism.”
—Paula Nelson (b. 1945)
“So we grew together
Like to a double cherry, seeming parted,
But yet an union in partition,
Two lovely berries moulded on one stem.”
—William Shakespeare (1564–1616)