3.4.1.2 Multinational Economic Regulation – the EU

The European Union (EU) offers an example of multinational economic regulation:

• The Commission has introduced a harmonised set of commercial regulations, to avoid its member countries having to comply with many different sets of regulations in what is intended to be a single market.
• The European Central Bank also provides some financial regulation in the Eurozone.

These EU regulations can be considered to be the most mature of the world’s existing multinational arrangements, but there are issues with their political acceptability (6.6.5.4).

There are other multinational regulations, in the form of trade agreements, as described later (3.5.4.5).

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