With floating exchange rates, a state does not sink the value of its currency to some standard such as gold, but it is judged as if it is a commodity and manipulated by politicians, economists, bankers and pay ministers (Bobbitt 700-702. Market states reflect the changes in rapid computations and computer technology, and the differences in wealth between North and South. The European Union is a conglomeration of individual states now united and acting as a nation, and is the cornerstone of political and economic stability in Europe (European). Member states have full access to the European single market. The Union exercises considerable influence on world affairs, something many of the member states could not do alone.
It structure is found on the rule of law, respect for human rights, and representative government.
The European Union is a community of states with shared values and plays a role to support international peace and stability in the world (European). The EU promotes "international peace and security and conjunct and mutually beneficial relations with neighbouring states." The EU
"International Relations." 1999. 27 July 2005.
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