The development and the deepening of the integration of the European Union

Abstract

The European Union has achieved the highest level of economic integration of our time. Nevertheless, the current political and economic environment raises uncertainty about its future. Based on intra-EU trade patterns, capital and labor flows, the symmetry of economic cycles, the homogeneity of macroeconomic conditions and the level of institutional conformity among Member States, the integration of the European Union has been deepening in the recent years and the decision-making bodies are tailoring their strategies and policies to the current difficulties of the integration in order to foster the process of deepening. These results are pointing towards a positive outlook for the future, however, the decision remains in the hands of Member States, which do not choose solely based on economic considerations, but also take into account political factors.