The European Single Currency And Its Consequences Essay

In the book Animal Farm, there is a character called Napoleon who is one of the main characters. This essay will be about how George Orwell portrays him as a leader and as a character. The book is an allegory for the Russian Revolution (8 Mar 1917 – 7 Nov 1917) and George Orwell created many similar characters in Animal Farm as those involved in the Russian Revolution.

Whether the United Kingdom decides to join the European single currency and replace the pound with the euro will have profound economic as well as political effects on the country so is a very important decision and has considerable variations in attitudes towards the topic, although the British public opinion has consistently opposed joining the euro. The euro is currency shared by 18 of the European Union's Member States. The euro was introduced in 1999 and automatically became the new official currency of 11 States, followed by another 7 countries joining to date. However, the UK negotiated an opt-out to from the Treaty meaning they don’t have to adopt the common currency as they fit a certain criteria [1]. Joining the European single currency can have major advantages for the UK, such as diminished uncertainty of exchange rate for businesses and the decreased need to pay transaction costs of changing currencies when abroad. It can also have disadvantages such as loss of domestic monetary policy and variable rate debt in the UK.

The European Union (EU) is a unique economic and political partnership between 28 different countries. It consists of about half a billion citizens, and its combined economy represents about 20 percent of the world’s total economy (Briney, 2015). Today The European Union works as a single market, with free movement of people, goods and services from one country to another. There is a standard system of laws to be followed, and since 1999 many countries share a single currency called the Euro (Europa.eu, 2015). This essay will explore the background history of the European Union and the benefits and drawbacks of the European Union.

Edgar Allen Poe is most often recognized, and certainly most famous, for his poem “The Raven” as well as other decidedly dark and often gothic poems and stories, stories such as “The Fall of the House of Usher,” “The Telltale Heart” “The Cask of Amontillado.” He also wrote many others mostly involving rather macabre, dark topics and characters as well as heavy themes such as insanity, madness, incest, murder and revenge. While this reputation is certainly well earned there is another side of Poe that is not quite so obvious. Poe was also a master of humor, especially in the use of parody and satire. One might ask how is it that a writer with such an inclination towards the darker side of humanity can

After the long awaited single currency implementation known as the euro, there have been many ups and downs to this monetary system. Many have been quick to criticize while others still praise its value claiming it will soon be valued strongly against the dollar. Our paper looks into the various aspects of the euro and the progress it has made since its initiation. We begin with a brief history of the euro then move on by raising some questions concerning the effects of the euro on various economic aspects such as competition and global financial institutions. We then provide insight to the various strengths and weaknesses of the euro and the implications this currency has on various institutions such as banks.

In Europe, the single currency created additional problems because of overvalued exchange rates, and high bond yields.” (Pettinger, 2013).

Many people argue whether or not the death penalty should still be a form of punishment in the legal systems of the fifty states of the United States of America. People who are against the death penalty say that this form of punishment should not exist, because it is inhumane. Alongside that argument, people also say that it is in direct violation of the basic human rights. Not to mention, they also see it as an outdated punishment that existed in less civilized times. They say that this kind of punishment should not exist in modern times. Supporters of the death penalty beg to differ. They see it as a justified form of punishment. People who are given the death penalty have committed murder, so supporters don’t see it as a problem when a convicted murderer is killed. This is the source of justification for many supporters of the death penalty. Supporters also say that capital punishment provides closure to the victims family. It is also said that it is a way to deter possible copycats which would save more lives, by sacrificing the perpetrators. I am a supporter of the death penalty, it should remain.

An introduction of the new common currency in the Europe was announced on the first day of January 1999. At the first time, there were eleven countries, which decided to join the European Union (EU) and replace their own currency with a new one, the Euro. The Euro has been adopted as a official currency of the country members including Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Portugal and Spain. In order to be accepted to join the Euro, these countries had to agree with the agreement about the price stability, long-term interest rate, government budget deficits, total

In 1999 the single currency the ‘euro’ was introduced and some countries abolished their separate currencies, these included Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Portugal and Spain. Since then another five EU countries have adopted the currency, these being: Slovenia, Cyprus, Malta, Slovakia and Estonia. Fewer barriers within the market was a fundamental part of a more integrated Europe. Member countries were struggling to keep their currencies stable relative to the European currency

European Monetary Union will make it possible to complete European economic integration. The introduction of a single currency will

In order to understand the evolvement of the Single Market of the European Union, one has to take the general background into consideration. Therefore, it is important to have a look at the Treaty on European Union (Maastricht Treaty) which gave birth to the creation of the Single Market. Having been the Common Market before the Maastricht treaty, the European Economic Community (EEC) Treaty already clarified the objective of cooperation between member states. Throughout the Single Market, those objectives should be transformed into reality.

The exceptional nature of the euro does not mean that Europe becomes a sovereign federation or Europe’s monetary union is unsustainable in the long run. The parameters of the questions have been well stated by the head of the European Central Bank, Mario Draghi (2012), who said that “those who claim only a full federation can be sustainable set the bar too high.” However, Draghi focuses on the “minimum requirements to complete economic and monetary union.” The future of the euro depends on a key political variable: the heterogeneity costs associated with the minimum set of functions that must be pooled or delegated for a currency union to work in such a framework. Moreover, if the costs associated with heterogeneity were small, the euro area crisis of last few years could perhaps be addressed with deep fiscal and political integration.

The euro area, which will hereafter be referred to as the Eurozone, remains in a state of

Bulgaria’s HICP inflation levels are well within the range of the eurozone average, and its budget is in surplus at 1.6 per cent, compared to the limit of 3% of deficit stipulated by the Maastricht criteria. Moreover, its debt ratio is at 29%, which is excellent when compared to the 60% peg given by the Euro requirements. The country’s bonds are showing interest rates within the 4% required as well, and most importantly perhaps, as much as Bulgaria has not yet triggered the ERM II (exchange-rate mechanism) process, it has pegged its national currency, the lev, for almost 20 years. The lev was first pegged in 1997 to the German Mark, and later in 1999 to the Euro until now, with a constant rate of 0.511494. Given such compliance, it comes to little surprise that Junker stated: “I have to say bully that Bulgaria is ready [to join the euro group]. And if Bulgaria is applying I support this heartily.”

Europe may not have the luxury of experimenting for many years before finding workable arrangements for modern economies, and of politics in the independent democracies that comprise the eurozone. Popular calls for public goods, social insurance, financial stability, and countercyclical macroeconomic policy cannot be brushed aside so easily as in the less-democratic era of the nineteenth-century classical gold standard. Furthermore, the fact that the score of the eurozone is so poor on optimal currency area grounds that it suggests a need for mechanisms allowing smoother and more symmetric adjustment between its member countries.