Complete economic integration

After complete economic integration, the integrated units have no or negligible control of economic policy, including full monetary union and complete or near-complete fiscal policy harmonisation.

Complete economic integration is most common within countries, rather than within supranational institutions.

In this example it is true that complete economic integration results in a federalist system of governance as it requires political union to function as, in effect, a single economy.

Although provinces is a narrow description as within a specific geographic area there is a much greater amount of mini-economies, all in different stages of the economic cycle; it is in theory possible for a single town to be in recession/boom whilst another is experiencing the opposite.

Though this is often viewed as a loss of provincial political sovereignty it is necessary to remove disparities and thus unfair advantages with certain firms across the economic area to provide the best conditions possible for the promotion of competition and therefore economic efficiency.