European Union Essay, Research Paper
The
managed exchange rate system deals with trade rate between countries. Managed
rates assume that one country sets the monetary policy, takes the exchange rate
that is given, and assumes the other country will go along with that rate. The
other country then tries to reduce inflation by setting their own exchange rate.
The managed exchange rate system slows down exchange-rate movement through the
foreign trade market intervention. The whole purpose behind the European Union
is to maintain peace between the European counties, and to integrate them. The
founding gentlemen of the EMS wanted to restore the integration of the European
Communities. In 1949, the Council of Europe was founder to promote political and
social unity in Europe. Later in 1952, the European Coal and Steel Community was
started to ?allay fears of a ?military-industrial complex? fuelling
renascent German nationalism? (Artis & Lee 5). Economic integration and
unity was brought to a head in March of 1957 when the European Economic
Community and the European Atomic Energy Community were formed. These two
treaties were used to help stabilize and form the ECU. All three of these
organizations/treaties were essential to forming what is today called the
European Union. The European Union/European Monetary System failed for three
basic reasons in the early 1990?s. First of all, it failed because it was
inefficient due to the low-inflation system and the recession in that time
period. The recession elaborated on the conflicts between the member countries
of the European Union. Second, it is not sufficiently competitive at the current
rate of exchange. Third, the real interest rate of the world would need to
decline drastically in order for the EU to work. Also in the early 1990?s
there were ?smaller expectations of devaluations? (DeGrauwe 131). The
current European Union has been a result of recent treaties. The first treaty
that was signed in February 1992 helped the unification of Europe be that much
closer. It set the groundwork for one currency throughout Europe called the
euro. In order to update the current treaties the Amsterdam Treaty was signed as
a result of the Intergovernmental Conference. This treaty resulted in a plan to
listen to the citizens, get closer to a more secure Europe, to make Europe more
vocal throughout the world, and to make the European Union more efficient. As of
January of 1997 there were 15 countries belonging to the regional and economic
European Union. The countries currently involved are Austria, Belgium, Denmark,
Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal,
Spain, Sweden, and the United Kingdom. In the future the European Union hopes to
grow and add more countries to this list. The banking system that the European
Union uses is a Central Banking System. With the evolvement of the Euro the
economics of Europe will be easier to maintain. As of January 1, 1999 the
national central banks and the European Central Bank were formed to help
institute the monetary policy using the euro. The macroeconomics theory
accompanied with the use of economic analysis can illustrate the ideas behind
the EMS. The members of the EU have put a strong emphasis into the monetary and
macroeconomic policies. In order to ?reduce inflation the tried to have more
stable competitive conditions within in the EMS which resulted in strict
exchange rates? (Levich & Sommariva 5). The European Union has a long way
to go before it achieves 100% success. It is updated basically on a year-to-year
basis. In order to continue to improve the Union they have established an Agenda
2000. This agenda presents the major problems that they will encounter as the
year 2000 is approached. First, they want to strengthen and reform the Community
policies to deal with a growing European Union. Second, they need to look at the
other countries that have applied to be a part of the Union. Last, a budget
needs to be established that includes all of their future plans. There are many
advantages to having a united Europe to the people of Europe. One benefit is
trade. There is now a free movement of goods, services, people and, money within
the countries belonging to the European Union. Having a united Europe, which
will result in the euro, will benefit information technology, administrative
changes, and the information and training of employees. The benefits of the EU
on citizens, businesses, and tourists will be determined by how much attention
is paid by each particular country to maintaining and promoting good relations
with one another. (Sumner & Zis 249) American businesses are affect by the
united Europe. For example, in 1980-85 there was an unpredicted increase in the
value of the dollar. As a result of the dollar appreciation many American
industrial firms that competed in the international market were more profitable
than in the past. The European Union also affects the business in the United
States because the ?cash forward market liquidity tends to ?dry up?? in
the middle of the afternoon because that is when the European currency traders
are going home for the day (Levich &Sommariva 95). Investors in the ECU are
growing on a daily basis. Investors tend look at the Union as a risk-returning
investment according to dollar assets and the foreign alternatives that are
available.
DeGrauwe, Paul. The Economics of Monetary Integration. Oxford: Oxford
University Press, 1994. Giavazzi, Francesco, Stefano Micossi, and Marcus Miller.
The European Monetary System. Cambridge: Cambridge University Press, 1988.
Levich, Richard M., and Andrea Sommariva. The ECU Market: Current Developments
and Future Prospects of the European Currency Unit. Lexington: Lexington Books,
1987. Sumner, M.T., and G. Zis. European Monetary Union: Progress and Prospects.
New York: St. Martin?s Press, 1982.
Другие работы по теме:
Intergovernmental Vs Supranational Essay Research Paper Intergovernmental
Intergovernmental Vs. Supranational Essay, Research Paper Intergovernmental vs. Supranational The European Union of today has been described as an intergovernmental organization by some scholars and a supranational organization by others. But which one is it in reality? The answer to this question is very trivial.
Cuban Missile Crisis Essay Research Paper Ever
Cuban Missile Crisis Essay, Research Paper Ever since the Soviet Union defeated the United States in the Cold War by launching ?Sputnik? into orbit first, they thought that they had the ?upper-hand?. Soviet intelligence therefore thought they had superior intercontinental missiles. They would soon find out that they were evenly matched by the United States.
Africa Essay Research Paper Europe tried to
Africa Essay, Research Paper Europe tried to take many countries, Africa being one of them. The European countries had an effect on Africa today throughout all the primes. Europe had an effect on the African way of life, that in some ways were good, and in some ways bad.
Soviet Union Essay Research Paper There are
Soviet Union Essay, Research Paper There are many events worthy of our recognition but some will be remembered for many years to come. Fifty years from now, every person in the world should
Emancipation Proclamation Essay Research Paper Abraham Lincoln
Emancipation Proclamation Essay, Research Paper Abraham Lincoln issued a document called the Emancipation Proclamation that stated; as of January 1, 1863 all slaves in the confederacy would be freed. This did not affect slaves held in Border States and the confederacy, of course, ignored it. Rebelling states were not under union control; therefore no slaves actually gained freedom on Jan. 1, 1863.
The Cold War Essay Research Paper In
The Cold War Essay, Research Paper In this paper I will discuss what actions and thoughts added up to cause the cold war. The cold war lasted from September 1, 1945 to about December 25, 1991. That is about forty-five years, which is an extremely long time. The cold war was a global competition basically between two sides, the Free World, which was led by the United States of America, and the Communist World led by the Soviet Union.
Reconstruction Era Essay Research Paper Reconstruction EraThe
Reconstruction Era Essay, Research Paper Reconstruction Era The Reconstruction period can be defined as the time after the Civil War when states were debating on what to do with a partially seceded nation. The Union, known as the North, wanted to come to agreements with the Confederacy, or the south, on how to successfully bring the states together again as one nation.
Trip Around The World Essay Research Paper
December 17, 1999 The United States and the European Union recognize Northern Europe as a dynamically developing region. We reaffirm our shared commitment to promote security, stability, and economic prosperity in the region, particularly by strengthening cross-border cooperation. During the Finnish Presidency, the United States and the European Union held intensive consultations on deepening our cooperation in Northern Europe.
America Is Not Benefited By The Fall
Of Euro Essay, Research Paper America Is Not Benefited By the Fall of the Euro “99 in the year ’99, is becoming more and more of a reality”- announced Michael Rosenberg, the director of the research center of international currencies of the Deutsche Bank, last week. Using this formula, Rosenberg emphasized the probability that in 1999 the value of the Euro may fall to 99 cents.
Ozone Essay Research Paper NASA and EU
Ozone Essay, Research Paper NASA and EU Report Massive Arctic Ozone Loss Scientists from NASA and the European Union blamed the long, cold winter and human-made pollution for one of the largest ozone losses to record. The study was conducted between January and March with the use of NASA?s high-tech ER-2 plane.
European Union Essay Research Paper Turkey and
European Union Essay, Research Paper Turkey and the European union Let us begin this by looking at what the EU wants from Turkey. The criteria for EU membership adopted by the Copenhagen European Council in June 1993 require that a candidate country has achieved stability of institutions guaranteeing democracy, the rule of law, human rights, and respect for and protection of minorities; has a functioning market economy as well as the capacity to cope with competitive pressure and market forces within the Union; and has the ability to take on the obligations of membership, including adherence to the aims of political, economic and monetary union.
The Diet Of The Average European Essay
, Research Paper The expansion took place largely in the period of the fifteenth through the eighteenth centuries, although it cannot bebound strictly at either end of the time scale. Movement outward from the western European peninsula took varied forms and shapesas it proceeded by land and by sea throughout Europe, Asia, andAmerica.
Black Essay Research Paper Black Soldiers in
Black Essay, Research Paper Black Soldiers in the Union Army During the Seventeenth, Eighteenth and part of the Nineteenth Century the White People of North America used the Black people of Africa as slaves to benefit their interests. White people created a climate of superiority of their race over the Black African race that in some places, still lingers on today.
The Protestant Reformation Essay Research Paper AP
The Protestant Reformation Essay, Research Paper _______________ AP European History Period 4 The Protestant Reformation The Protestant Reformation changed the course of European history very strongly, and rapidly. This paper will talk about what exactly the reformation did to Europe, in terms of social, political, and philosophical impacts.
Euro In America Essay Research Paper On
Euro In America Essay, Research Paper On January 1,1999, the world witnessed a change never seen before: eleven nations of the European Union fixed their currencies to each other and established the world?s first common currency, the Euro. The creation of a single European currency will be the most important development in the international monetary system since the adoption of flexible exchange rates in the early 1970.
European Union Essay Research Paper EUROPE ESSAYThe
European Union Essay, Research Paper EUROPE ESSAY The European Union is a movement that will let Europe trade easier. Europeans are removing the borders to let it be easier to enter into a different country. They figured that the U.S. had few problems with it, they are going to try.
The Courtship Of Miles Standish By Henry
Wadsworth Longfellow (1807-1882) Essay, Research Paper Henry Wadsworth Longfellow was brought up as a New England aristocrat steeped in European culture. His works,
Child Care Essay Research Paper Midwest Community
Child Care Essay, Research Paper Midwest Community College needs to expand its child day care center to help students attending classes at night. The day care center needs to be open from 5 p.m. to 10:30 p.m. so children can be cared for safely while their parents attend class.
Global Economy Essay Research Paper Global economy
Global Economy Essay, Research Paper Global economy is as same as a boat waving and fluctuating among the tides and waves of an ocean in this turmoil international situation, which is characterized by wars her and there, peace process taking place in every part of this world, environmental issue and its implication with the emissions of industry coupled with the depletion of natural resources, the international alliances such as the European Union, eastern countries after the previous soviet Union and its system, the African Union, the middle east countries and their geographical situation and ideologies, and many other factors to mention.
Progress To EMU Has Been Too Rash
And Hasty Essay, Research Paper Despite the healthy support given to EMU by the likes of Helmut K?hl, Jaques Delors and Fran?ois Mittererand, there are some arguments that progress towards EMU has been too rash and hasty for it to be successful.
Cio Essay Research Paper Persuasive essayAFL
Cio Essay, Research Paper Persuasive essay AFL – CIO Working people need representation so that the jobs we work everyday are productive for us. We find this representation in the form of unions. The
Untitled Essay Research Paper Sand Pebbles essay
Untitled Essay, Research Paper Sand Pebbles essay The movie Sand Pebbles focus was on the flag. The flag was not only a symbol of a nation, but of nationalism, militarism and imperialism. During the 1800’s and early 1900’s there was a severe foreign influence in China. During this time period the European nations wanted to trade with the Chinese, but the Chinese had no interest in the European products for at the time China was self sufficient.
Chaos In The Currency Markets Currency
Crisis Of The EMS Essay, Research Paper Chaos in The Currency Markets : Currency Crisis of The EMS 1. What does the crisis of September 1992 tell you about the relative abilities
Euro
– Currency For Europe Essay, Research Paper This is the European Commission’s internet site dedicated exclusively to the euro – one currency for Europe. Whether you are a citizen interested in your future currency, a specialist working on technical preparations for the changeover, or a surfer passing by; this site has useful and interesting information in all eleven official languages of the European Union.
European Union Description Essay Research Paper In
European Union Description Essay, Research Paper In 1967, three European institutions merged. The three institutions were the European Coal and Steel Community (ECSC), the European Economic Community (EEC), and the European Atomic Energy Community (Euratom). When the three merged, they formed the European Community or EC.
European Monetary Union Essay Research Paper The
European Monetary Union Essay, Research Paper The liberalization of trade is a historical phenomenon, which goes back a long way. Never before has any regional grouping made up of sovereign countries succeeded in taking economic integration as far as the European Union has done. Customs duties between European countries started to come down steadily in the early 1950s and disappeared entirely in 1968 with the introduction of a customs union and the implementation of the common external tariff.
Analysis Of A Newspaper Articl Essay Research
Paper 131-81 Analysis of The Union Racket There is an article in the April 24,2000 issue of The Detroit News called The Union Racket . This article explains how the International Brotherhood of Teamsters currently stands with its lawsuit against its former president. Though the essay dose communicate many useful points, is dose a poor job of not meeting the seven failure requirements for any writing as established by Orwell.
Major Battles Of The Civil War Essay
, Research Paper The First Bull Run was the first major battle of the war and would occur in northern Virginia right next to the capital. Northern spectators came to watch the battle because they were sure the union would win but the confederates won much to their dismay. Because of this battle both sides realized this would be a long and hard war instead of an easy one.
The History Of The Euro Essay Research
Paper Michael Younan The History of the Euro Recently members of the European Community have proposed the “Euro” as the name of a united currency. The idea for a common currency is not a new one. For years European banks have been using ECUs as the basis for the European Monetary System and it will now be exchangeable equally for new Euros.
Eu And Usa Essay Research Paper What
Eu And Usa Essay, Research Paper What does a coherent and unified European community (now known as the European Union) mean to the United States? Is it a threat, a competitor, or a partner? Or is it the three combined together? I think it is the three combined together. Depending on the situation, whether economically, politically, or military, the European Union has acted as a threat, competitor or a partner to the United States.
Battle Of Shilo Essay Research Paper The
Battle Of Shilo Essay, Research Paper The Battle of Shiloh 1962 The Battle of Shiloh was one of bloodiest battles of the civil War. In fact it was one of the bloodiest battles fought on Tennessee soil.