An economic union entails even closer economic integration and cooperation than a common market.

Name: An economic union entails even closer economic integration and cooperation than a common market.
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Economic union involves common policies on economic and monetary issues, and coordination in areas such as taxation, social policy, and industry. This goes beyond the level of integration in a common market, which only involves free trade in goods and services.

An Economic Union Entails Even Closer Economic Integration and Cooperation