The European Union or EU is very promising to most citizens in the participating countries and the Euro or € makes trade much easier. Even when some countries did not see the advantages they normally accept the currency. Major stores for example in Britain have special check out where customers can pay with the new currency.
Whether a country is using the Euro or not is a major parameter if you want to establish a subsidiary in Europe. To use the Euro lowers the risk which you have with fluctuating exchange rates.
I think that the EU offers many advantages compared to NAFTA. Even when each country still has its own tax rate for the VAT (Value Added Tax) things are much easier. If you import goods to the EU, you can sell the product within the common market without paying any additional duty. In most cases you only have to charge the VAT which applies to the country where your company is located.
Citizen of the EU can work in all countries of the European Union. The following is a list of all EU members. The list also shows whether they are using the Euro or not:

As you certainly know more countries are willing to join. It is expected that this will happen in 2003.
The state of Bavaria is the most prosperous part of Germany and it offers excellent living conditions and a well trained and educated work force.
The CSU, a conservative party, forms the government since decades. Under their leadership the country was transferred from a mostly agricultural economy to one of the most prosperous parts of Europe.