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    Docs en anglais
    publié le 04/07/2012

    3,60 €

    Euro Currency: Past, Present and Future

    Document de 4 pages au format PDF

    RÉSUMÉ

    Study on the European Union situation in the Past, Present and Future: choice of a new currency, reasons of the crisis, future possibilities.

    AUTRES

    Extract:

    Having a common currency between member-states had been a goal of the European Union and its predecessors since the 1960s to get a better co-ordination of economic policies and monetary cooperation1. In 1994, the European Monetary Institute had been created and was the forerunner of the European Central Bank (ECB); the name of “euro” and the date of its launch were found one year later. As a result, these early ideas paved the way of the Euro, but was it really a good idea?

    [...] The debt crisis is mainly the result of loss of control of countries in their finances. Then, other European countries had to bail out. But these countries had to show they could handle their economic problem by taking “austerity measures”. In Greece, for instance, many citizens demonstrated great protest as the unemployment rate raised to 20.9%4 (also see Graph 2) in November of 2011 and taxes kept increasing. Other European countries have no choice but to help Greece to recover, otherwise the country would go bankrupt leading others to take harder austerity measures in their home country too.

    [...] The Euro zone tried several times to rescue its members. It was the case, for instance, with the €78 billion bailout package that received Portugal in May 2011 and with the €109 billion comprehensive package in favor of Greece in July 2011.13 It was clearly not sufficient. Furthermore, the recent “fiscal pact” signed by the E.U. in January 2012, will probably prevent future opportunities to break budget deficits, but it will not help resolve the current debt crisis.(...)

    Table of contents:

    Introduction

    I) Past

    A. Why a new currency?
    B. Criteria
    C. Introduction of the Euro

    II) Present

    A. Debt crisis
    B. Use of Examples: Greece, Portugal or Italy
    C. Why a failure?

    III) Future

    A. First scenario about the future
    B. Second one

    Conclusion
    References

    4

    Docs en anglais publié le 04/07/2012

    3,60 €

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