Advantages and Disadvantages Of The European Union

European Union:

Advantages: Single market has increased competition and thus lowered prices for the European market.
No customs tax is required between member states in terms of transportation of goods.
Citizens are free to access all member states at their convenience.
Creation of jobs.
More available funds through collective contributions.
Stronger bargain power through in the International market.
Co-operative law enforcement agencies.

Disadvantages:
Excessive regulations may cause inefficiency and bureaucracy.
Concentration of power
Loss of sovereignty.