The Economy of Greater Europe: from Squabbling to a New Balance?

... organization but rather a collection of normative documents designed to bridge the European Union and European Free Trade Association ( EFTA ), the two biggest European trade amalgamations. At first glance, the difference between the European Union and the EFTA is purely technical. However, the EU is a customs union able to establish a single external tariff which virtually deprives its members of independent trade policies. The EFTA has no such rules, as its members can develop absolutely unrestricted trade relations with any state or region. The EFTA ...