Union and its single currency‚ introduced a mere decade earlier‚ is the uncertain outlook which it now faces. The seventeen countries that employ the euro‚ collectively known as the Eurozone‚ have been facing a major debt crisis since early 2010. Unsustainable government debt has been accumulated by certain Eurozone countries‚ and since then Greece‚ Ireland‚ Portugal and Spain have all turned to other EU countries and the International Monetary Fund (IMF) for hefty bailout packages. The crisis‚ which
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Eurozone unemployment and inflation both rise 01 March 2012 by Daniel Mason Eurozone unemployment rose to a record high in January‚ while inflation in the currency bloc has also continued its upward trend - a combination described by economists as "unpalatable" and a "double whammy of bad news". The jobless rate in the 17-member currency bloc was 10.7 per cent in January‚ up from 10.6 per cent in December‚ according to statistics published today by Eurostat. It means that‚ in January‚ there
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policy choices of the Fed and ECB and the broader consequences for the Eurozone and the US. We chose to focus on the US and Eurozone since they have the world’s two biggest central banks‚ they both have floating exchange rates and their currencies are the most traded on FOREX‚ meaning that shifts in the supply or demand of Euros and/or Dollars will have strong effects on capital flows. We will be considering the Eurozone as a whole since our focus is on interest rates‚ which are set according
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The problems posed by Greece’s debt-laden economy‚ and the risk of it having to leave the 19-member eurozone via a so-called a "Grexit‚" have weighed on many European Union (EU) summit meetings. That risk has grown substantially since January‚ when Greek voters handed power to the radical left party Syriza which fiercely opposes the terms of previous international
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Table of Contents Introduction 2 I. European integration pre-crisis 2 Paris Treaty 2 Rome Treaty 3 Maastricht Treaty 3 The European Integration through a Single Currency 4 TRANSITIONAL STAGE 1999-2001 : Official launch of the EURO 4 II. The Euro-crisis 5 The EURO Crisis: Timeline of the Events 5 2001-2008 5 2009 5 2010 5 2011 6 2012 7 The EURO Crisis: The result of a failed European Integration. 7 III. Redefinition of the European Integration 9 Addressing the Crisis
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02|2012 IFIER papers The Eurozone: An Optimal Currency Area? by Martina Fürrutter February 2012 IFIERpapers combine theoretical reasoning and academic discussion of current research subjects in the two sub-disciplines of International and European Relations. IFIER publishes outstanding work by students as well as new findings of proven experts. IFIER will publish a special issue periodically. Contributions from political scientists and students outside of Innsbruck are explicitly welcome. Each
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Critically discuss whether Germany or Greece should leave the European Union. In the very first part of my assignment I will briefly introduce you to the history of the European Union‚ and then in a few words I will observe the pros and cons for the EU. In the main section of my coursework I will critically discuss whether Germany or Greece should leave the EU.As a conclusion‚ I will try to draw everything together and briefly sum up my arguments. After the World War II the countries in Europe
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positive trend with the GDP per capita. From $29‚684.33 in 2004‚ Germany boosted their GDP per capita up to $39‚187.01 in 2011‚ which is approximately a 50% increase. This shows that Germany managed to put its economy in an upward trend‚ although the Eurozone was struggling with its economic growth‚ particularly during 2009 and 2010. Similarly‚ GNI per capita of Germany in 2004 was $29‚938.63‚ yet by 2011‚ the GNI per capita was $39‚943.53. This again shows a positive trend overall‚ which shows that
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free market and remove trade barriers between member states are the ultimate aim of European Union (Hill p289). Among these ‚17 nations are members of the ‘Eurozone’‚ distributing a currency with the purpose of further assimilating economic systems and plummeting trade obstacles caused by international currency conversion . As a member in Eurozone ‚their fundamental goal is to maintain harmony because they have to depend on each other and their economy are interrelated. Although they tried to build
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Greece Department of Business Administration‚ University of Patras‚ Greece atsagkanos@yahoo.gr Athanasios Bellas Department of Business Administration‚ University of Patras‚ Greece Determinants of Non-Performing Loans: The Case of Eurozone vmakri@upatras.gr Athanasios Tsagkanos UDC 336.77 (4-672EU) ”2000/2008” DOI: 10.2298/PAN1402193M Original scientific paper bellas@upatras.gr Acknowledgements: The authors would like to thank the two anonymous referees and
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