Concept in Definition ABC

With the term Union, various issues can be referred to and that is why, depending on the context, we find several meanings of the same word.

In general terms union implies the action or the result of joining something to something or the action that an individual undertakes when joining another individual.

Also, when you want to account for that point through which various things or issues converge, we use the word union. For example, the new bridge in the region will serve to unite several towns and with it the country will gain in communication and development of the regions involved. That is, in this case, the meaning of the term union will always imply something positive and never negative.

On the other hand when you want to refer the agreement that two or more people have reached about a question of conflict or problem, It is often spoken of as the union of thoughts that was in a meeting.

Likewise, in some parts of the world it is common for When a couple contracts a civil bond, they are united for life, what we more traditionally call marriage, speak and call that also with the word union

. The marriage of my cousin and José is already a fact. We are happy.

At the behest of mathematics, the word union has a very important meaning in relation to one of the several topics of study that the discipline, which are the sets.
Is mathematical operation is called completely union of sets and will result from grouping all those elements that make up the initial sets.

Union in pursuit of a common goal: the European Union

Meanwhile, in a completely different context, When several people, companies, entities, among others, associate to achieve some common purpose, it is usually called a Union. One of the expressions of this would be, for example, the European Union (EU), that is, all the states that correspond to the Continent European unite and their main function is to contribute and achieve well-being in all aspects of the people who make up and live in that vast region.
The EU is made up of 28 countries and since November 1, 1993, it was officially established through the Treaty of the European Union.

Monetary Union and Customs Union

On economy We can also find this term forming the concept of monetary union. The monetary union is a situation in which two or more nations agree to share the use of the same currency, that is, they decide to use the same legal currency.

It is worth noting that there are three types of monetary unions: informal (consists of the unilateral adoption of a foreign currency), formal (a foreign currency is adopted after a bilateral or multilateral agreement with the entity that issues; In some situations, this scenario is accompanied by the issuance of its own currency and under a fixed exchange system) and formal with politics common (they are a varied group of countries who decide by common agreement to establish a monetary policy and a authority common issuer that will legislate on the matter of the currency they share).

Among the examples we can cite the euro in the so-called eurozone. The member states of the European Union have adopted to the euro as a common and official currency and in this way they gave way to the formation of what we were talking about, a monetary union. It was created in 1999, while the Eurosystem is the monetary authority in the euro area. It is made up of the central bank European, the central banks of the countries that make up the eurozone. Meanwhile, economic and political authority rests with the Eurogroup and the European Commission, respectively.

For its part, customs union designates that area in which free trade prevails and a common foreign tariff or tariff has been established, or that is, the member states have a common commercial policy with respect to the non-member states. The main mission of this entity is that the member states of a union such as the European one increase their economic efficiency and strengthen their union. Because if this common tariff did not exist, each country would have a different foreign trade policy than another and it would also be possible that a product from a non-member state entered the union at a low fee and was later transferred to another country at a fee higher.

The customs union with the establishment of this common tariff eliminates any manipulation in the value of a product imported from a country not member and it will have the same rate regardless of the member country for which there is joined.

Topics in Union