Integration in the EU and Monetary Policy
The creation of the European Union (EU) is a great political and economic feat. For it is the ultimate sign of cooperation between nations that had been in constant rivalry before. Nevertheless, the ideals of such a union cannot stand alone without having a strong foundation and continuos rational decision making by all of the actors involved. If we assume that the European Central Bank’s (ECB) principle role is to guarantee the well-being of all EU members, then policy making becomes a very complex issue since it must consider such a large and diverse area. I believe there needs to be more economic integration between EU countries for monetary [and fiscal] policy of the ECB to be beneficial to all participants.
Even before World War II, the dream of a unified Europe existed. This ideal emerged from the desire to guarantee peace, for a common political and economic system would, in theory, lower the chances of war. This is because by slowly erasing countries’ borders and making them intra-dependent, states are forced to work with each other rather than oppose one another. A unified economy would also turn Europe into one market and increase the continent’s role in the international monetary system. In March of 1979, eight countries officially participated in the European Monetary System (EMS) by pegging their currency to the German mark. By tying their monetary policy to the Bundesbank’s well known monetary targeting policy, they were able to import German credibility to reduce their own inflation. Indeed, EMS members considerably reduced their inflation by exchange-rate targeting, making Germany the anchor country. France reduced inflation from about 5% in 1987 to 2% ...
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...onomies with the rest of the EU members.
[1] Aksoy, Yunus, Paul De Grauwe, and Hans Dewachter. “Do Asymmetries Matter for European Monetary Policy?” University of Leuven: Center for Economic Studies. April 2002
It is clearly beneficial for the well-being of the EU for there to be greater cooperation between members. If borders truly want to be erased, intra-EU trade and labor mobility needs to increase substantially. Also, fiscal policy needs to be increasingly coordinated so the European government can use it as a tool. Although, with enough fiscal room granted to individual countries so they can use it against domestic shocks. In conclusion, political and economic integration should be the ultimate goals of the EU, because by making Europe more uniform, at least in numerical terms, ECB policies will be most effective and beneficial for each country.
The European Union has been helped economically ever since World War II. Right after World War II’s end, Europe was struggling to hold on. The countries of the modern-day European Union thought it would be a good idea to come together and help each others struggling economy. To this day, this decision has had a very positive outcome on the EU’s economy. As shown in Diagram 1, the European Union combined together has the world’s highest GDP at 18.3 Trillion USD as compared to the United States’ 17.4 Trillion USD GDP and China’s 10.4 Trillion USD GDP. The idea
Do you believe that the European Union has united Europe? A supranational cooperation is a when countries give up some control of their affairs as they work together to achieve shared goals. The European countries have used supranational cooperation to create the European Union because they want to prevent future wars, and rebuild the weak economy that had formed after the two wars. The European Union has united Europe because it has made Europe have a common currency called the Euro, has a common “government” for the European Union, and has all of the countries influenced when one country that is part of the European Union be in “trouble”.
Recently rap has surpassed many genres of music. In the year 2017, eight of the 10 most listened to artist were rap artist. Artist like Lil Uzi Vert, Future, and Cardi B have many songs listed as the top 10 best selling tracks. What do all these rap artists have in common? They have the the three keys that make up the structure of a great rap album.
The European Union today is a political and economic entity that controls in a single market located mostly in Europe exploiting Euro as a single currency uniting the vast majority of its members. The market that all European Union members share provides free trade of goods and services as well as a common external tariff. One might argue that the European Union would not perceptible its current influence had it not been for the introduction of the Euro. Speaking of the benefits of the Euro, one can name the elimination of exchange rate problems, creation of a single financial market, providing price stability, low interest rates as well as being a political symbol of unity and commitment to the Union. Today, Euro is the second reserve currency in the entire world - a fact that clearly speaks for itself of its value in the global market.
Many people would agree that Europe is a continent in which regions identify with each other even if they are not part of the same country. For that reason, as well as others, in 1957 the Treaty of Rome "declared a common European market as a European objective with the aim of increasing economic prosperity and contributing to 'an ever closer union among the peoples of Europe'" (www.euro.ecb.int). Later, in 1986 and then in 1992, the Single European Act and the Treaty of European Union tried to build on the previous treaty to create a system in Europe in which one currency could eventually be used all over the land under the heading of the Economic and Monetary Union. (www.euro.ecb.int) However, the question remains, why would the leaders of various European nations want to create one currency when the rights of national sovereignty have always been an issue for countries all over the world. Why, in 1998 did they create the European Central Bank, and why in "The third stage of EMU... on 1 January 1999, when the exchange rates of the participating currencies were irrevocably set" (www.euro.ecb.int) did eleven, and later twelve, countries link themselves economically in a way that has never been done before?
...e widespread cultural belief that they are poor and inferior simply because ‘non-white’ races are inherently lazy by the reality of their everyday lives. Many minorities work very hard to overcome the structural racism that tries to keep them out of schools and in unskilled or semiskilled jobs. More and more people of color succeed in overcoming race-based discrimination by continually contradicting the ideologies that work to keep them in poor, working class neighborhoods and schools. People like Sonia will continue to slowly chip away at the structures that work against them until the promise of equal opportunity is finally and completely fulfilled.
The American people themselves were greatly affected by the automobile, in negative ways as well as positive. Rur...
...sportation, petroleum products, and in how many ways they impact and shape the world in which we live. The automobile reformed American’s views on what a proper meal was by introducing fast food chain which created a rapid increase in rates of obesity. Your wealth was only worth as much as the automobile you were driving and success was defined by your car being a Ford or a Mercedes. Although the invention of the automobile created great strife throughout American history, it is all too easy to pile all of the blame on the automobile without pointing fingers back around at society. The automobile has been embraced by countless generations and will continue to be embraced as we progress into the future. Choices come with consequences. As we move into the future, coming generations will continue to deal with consequences that begun before they were even thought about.
The album sold 700,000 hard copies and was number one on the Billboard 200 within a week’s time. He didn’t live to put the final touches on the album however, the album was the last thing left before Biggie’s death and perfected every single aspect that rappers go through. “Life After Death” has been acclaimed by many music writers in the industry as “one of the seminal mafioso” rap albums. The album was ranked number 476 on Rolling Stone’s 500 greatest albums of all time in 2003. Most of the tracks on the album were written during the feud with Tupac and the album had a wide variety of songs and a lot of diversity in it. “Life After Death” set the record for the quickest and largest jump in the history of Billboard
Every year cigarette smoking is responsible for 500,000 premature deaths (Nugel), you do not want to be just another statistic, do you? America’s first cash crop was tobacco. That means that tobacco has been around for a really long time. It was not until 1865, though, that cigarettes were sold commercially. They were sold to soldiers at the end of the Civil War (Dowshen). From then, cigarettes spread like wildfire, and it was not until 1964 that anyone made a stand about the negative effects of tobacco and cigarettes. People start smoking for all different reasons, some to fit in and some to “escape”. Regardless, it is a horrible habit. 3900 children will try their first cigarette today. Amongst adults who currently smoke, 68% of them began at age 18 or younger, and 85% at 21 or younger (American Lung Association). And of all those people, 70% say if they were given another chance they would never have picked up that first cigarette (Tobacco Free Maine). Smoking is responsible for 1 and 5 deaths in the united states, and is the number one preventable cause of death (NLH). Smoking burns and there is no doubt about that, but before one picks up that cigarette, understand the negative effects on not only oneself, but others affected by ones poor choices, like second-hand smoke. Because of smoking cigarettes, many types of cancer, decrease of life quality, and negative health effects have become all too common in the world today.
Women who reported in this concluded in the idea that they chose abortion becsue they felt that a child would interfere with their future success and that they don’t want to waste their youth on their mistakes. Others want to give their baby a better life and they know that the baby will only be living in misery if they kept the baby. Immaturity and lack of independence is another factor for abortion, younger women fall in this category because they feel that they have not yet lived life to the fullest and that having a baby would be a drastic thing that could affect their
Karl Benz invented the first automobile in 1866; it has changed the world in how we commute every day. From riding in carriages to now cutting our time travel whether it is riding a bus or our on car. It has become more of a necessity in today's world to have a car because its something that we choose to have in our daily life that it is a choice that is high on the priority list to own. As to wealthier people the type of car you drive puts in a different class. Where some get the choice of car that they want others have a certain budget on what to look for. The way an automobile symbolizes today, changed in society, and how a car has become a collection.
Additionally a characteristic of maturity is being able to detach oneself from the situation and imagine themselves in...
So ask yourself what would our country or on an even bigger scale the world, be like if we didn't have our cars, trucks, and minivans for the soccer mom. The automobile has tremendously impacted the united states and many other countries, it has helped us through the many wars and made delivering mail much quicker. Even though there is pollution the automobile industry is making improvements to make cars and trucks more clean.
The enlargement of the European Union (EU) in 2004 and 2007 has been termed as the largest single expansion of the EU with a total of 12 new member states – bringing the number of members to 27 – and more than 77 million citizens joining the Commission (Murphy 2006, Neueder 2003, Ross 2011). A majority of the new member states in this enlargement are from the eastern part of the continent and were countries that had just emerged from communist economies (EC 2009, Ross 2011), although overall, the enlargement also saw new member states from very different economic, social and political compared to that of the old member states (EC 2009, Ross 2011). This enlargement was also a historical significance in European history, for it saw the reunification of Europe since the Cold War in a world of increasing globalization (EC 2009, Mulle et al. 2013, Ross 2011). For that, overall, this enlargement is considered by many to have been a great success for the EU and its citizens but it is not without its problems and challenges (EC 2009, Mulle et al. 2013, Ross 2011). This essay will thus examine the impact of the 2004/2007 enlargements from two perspectives: firstly, the impact of the enlargements on the EU as a whole, and thereafter, how the enlargements have affected the new member states that were acceded during the 2004/2007 periods. Included in the essay will be the extent of their integration into the EU and how being a part of the Commission has contributed to their development as nation states. Following that, this essay will then evaluate the overall success of the enlargement process and whether the EU or the new member states have both benefited from the accessions or whether the enlargement has only proven advantageous to one th...