Download or read book The Implications of the Introduction of the Euro for Non EU Countries written by Peter Bekx and published by . This book was released on 1998 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: La introduccion del euro sera un acontecimiento importante en el sistema monetario internacional. El objeto de este trabajo es examinar sus implicaciones en paises terceros mediante el analisis de los distintos canales de transmision a traves de los cuales la UEM afectara a los paises terceros. Comienza con los mecanismos de transmision del comercio internacional: el impacto de un mayor crecimiento en el area del euro, los efectos desbordamiento de la mayor sincronizacion de los ciclos en la UE, y el uso del euro en la facturacion. Continua con los cambios que afectaran a los mercados financieros: los relacionados con el euro como vehiculo de monetario en los mercados de divisas, su uso en las carteras privadas y su papel en los prestamos internacionales. La ultima parte trata el uso oficial del euro. Sus implicaciones para la politica de cambios de los paises no comunitarios y para la gestion de sus reservas. (pgp).
Download or read book Euro Papers written by Peter Bekx and published by . This book was released on 1998 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Implications of the Introduction of the Euro for Non european Countries written by Peter Bekx and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Euro written by Jesper Jespersen and published by Springer. This book was released on 2016-11-21 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes a close look at macroeconomic imbalances within the Eurozone and explores the profound consequences the introduction of the European Monetary Union (EMU) has had on Euro area countries. Particular attention is given to balance of payments deficits and surpluses, and the profound difficulties of rebalancing the Euro area. Throughout the chapters, the author argues that the EMU has failed to support an optimal currency area with the correct institutional arrangements due to misunderstandings at a macroeconomic level. The author also sheds light on the stability pact and the resulting macroeconomic trap which has left a number of Eurozone countries with devastatingly high rates of unemployment. The book argues that by disregarding important macroeconomic imbalances, Euro-monetarists have derailed the entire Eurozone project to such an extent that it is at risk of falling apart. Key chapters discuss the establishment of the EMU from a Euro-realist perspective and the role of the European Central Bank in rebalancing financial markets. The concluding chapter looks ahead to the future of the Euro and proposes necessary institutional solutions to the macroeconomic problems it is currently facing. Scholars and students with an interest in the current economic disarray within the Eurozone will find this work thought-provoking and highly informative.
Download or read book The European Central Bank written by Hanspeter K. Scheller and published by . This book was released on 2006 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive 200-page overview of the ECB from its inception in June 1998 until the present day.
Download or read book Europe and the Euro written by Alberto Alesina and published by University of Chicago Press. This book was released on 2010-04-15 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is rare for countries to give up their currencies and thus their ability to influence such critical aspects of their economies as interest and exchange rates. Yet ten years ago a number of European countries did exactly that when they adopted the euro. Despite some dissent, there were a number of arguments in favor of this policy change: it would facilitate exchange of goods, money, and people by decreasing costs; it would increase trade; and it would enhance efficiency and competitiveness at the international level. A decade is an ideal time frame over which to evaluate the success of the euro and whether it has lived up to expectations. To that aim, Europe and the Euro looks at a number of important issues, including the effects of the euro on reform of goods and labor markets; its influence on business cycles and trade among members; and whether the single currency has induced convergence or divergence in the economic performance of member countries. While adoption of the euro may not have met the expectations of its most optimistic proponents, the benefits have been many, and there is reason to believe that the euro is robust enough to survive recent economic shocks. This volume is an essential reference on the first ten years of the euro and the workings of a monetary union.
Download or read book Introduction of the Euro in the Member States Not Yet Having Adopted the Common Currency written by and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic and Monetary Union (EMU) is the framework of economic policies covering the EU – including both eurozone and non-eurozone countries. The principal long-term aim of the EMU is the economic convergence for the EU over three successive stages. Once a country reaches the third stage it is permitted to adopt the euro as its official currency. The adoption of the euro is a requirement of EU membership, and all Member States must adopt the common currency once they have satisfied the necessary criteria defined in the Maastricht Treaty (with the exception of Denmark and the UK, which have an opt-out from these Treaty provisions). There is no fixed timetable for the introduction of the euro, but the Treaty does require countries to join the euro area at a certain point. The countries currently awaiting to adopt the common currency are Bulgaria, Croatia, Czechia, Hungary, Poland, Romania and Sweden. Of the countries that joined the EU in or after 2004, Slovenia, Cyprus and Malta joined the euro area in 2007 and 2008; Slovakia followed in January 2009; Estonia joined in January 2011; Latvia joined in 2014; and Lithuania adopted the currency on 1 January 2015. Having joined the European Union in 1995, at least nine years prior to the other countries in this survey, attitudes and opinions are occasionally quite different for Sweden. Therefore, the average that comprises all seven countries should be compared to previous editions of this study with caution. This survey is the 21st in a series which began in 2004 and has helped the European Commission to track opinion, levels of knowledge and familiarity with the single currency among citizens regarding the future introduction of the common currency in their country. The report looks at: - levels of knowledge about and experience of the euro among citizens in the seven countries covered by the survey; - citizens’ feelings about how well they have been informed about the euro and their preferred information channels for learning more about it; - citizens’ perceptions of, and support for, the single currency; - and their expectations about the adoption of the euro both for themselves and for their country, and any potential positive or negative consequences they imagine.
Download or read book Economic Convergence in the Euro Area Coming Together or Drifting Apart written by Mr.Jeffrey R. Franks and published by International Monetary Fund. This book was released on 2018-01-23 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.
Download or read book The Transformation of the European Financial System written by Vitor Gaspar and published by . This book was released on 2003-01-01 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book European Monetary Union and Its Impact on the Turkish Economy written by M. Veyis Fertekligil and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Was supporting economic growth and was not threatening theoutlook for inflation. So far, the euro-zone has only gained from the euro's weakness in economic terms.In this context, the first year of the EMU must be judged as a success. Thechangeover weekend went by without incident, the T ARGET1 payments system waslaunched without any major problem, and the ECB has successfully taken over themonetary policy for the euro area. The ECB faced the first serious challenge to its independence and effectively defended its status. It also conducted its first policy moves, on the one hand, it eased monetary policy in the face of growing threat of deflation and weak real activity at the beginning of 1999, and on the other hand, it reversed the course, tightening policy as the risks shifted to higher inflation. Furthermore, the euro area recovery was strong in the beginning of the year 2000.The EMU's possible effects in and outside the euro area have been an interestingresearch area for many economists. According to the optimistic scenarios on theEMU's internal effects, as a result of the benefits from the introduction of the euro, competition in markets for goods and services will intensify by allowing for both higher growth and increased jobs and the development of European capital markets will be promoted. This was mostly true for the 1999. On the other hand, the loss of the exchange rate instrument in formulating macroeconomic policies is a major cost of the EMU. There can also be possible effects of the EMU outside the euro area. Those effects on third countries are mainly expected to be on the institutional level, trade and balanceof payments, invoicing, financial markets and exchange rates. There are different scenarios on the external effects of the euro. According to the simulation exercises of the IMF , even if the expected effect on the EMU countries may be substantial, the impact on the non~EU countries may be relatively small in average. In the case of Mediterranean partner countries, the growth effect of the introduction of the euro on the region is likely to significantly exceed that for the developing countries as a whole, but it will be limited.The extent of the effect of the introduction of euro on Turkey may vary depending on factors like the intensity of Turkey's trade in goods, services and financial assets with the euro area countries, the future role of the euro as reserve currency and the exchange rate policy of the authorities in the country. The economic relations with the EU countries are very important for Turkey .The possible effects of the euro on the Turkish economy will depend on how the euro will behave against the main currencies of the world in the future. There will be possible changes in the currency composition and invoicing of foreign trade, foreign exchange deposits and foreign debt stock depending upon future variations of the euro.A relatively new issue for Turkey as a candidate country to the EU is the Maastricht convergence criteria required for the entry to the EMU .The EU member countries outside the euro area and the candidate countries for full membership' to the EU must satisfy the aastricht convergence criteria2 for accessing the euro zone. Forpotential member countries this issue is crucial, because although joining the EMU is not an obligatory criterion for membership to the EU , it is an economic performance threshold. As a candidate country, Turkey does not meet the Maastricht criteria, apart from the gross government debt category. The expected economic growth and the trade creation of the euro area would bebeneficial for Turkey in the case of realisation of some factors. The most important factors are; the macroeconomic and political stability in Turkey appropriate competitiveness strategies for Turkish firms, stable policies in the euro area, capacity of the euro to become an international currency , stability of the euro in international markets, demand elasticity of the euro-area countries against Turkish export products and finally , foreign trade elasticity of the euro-area countries ' economic growth.The issues of the flexibility of the exchange rate policy and to have euro as a nominal anchor will be of particular importance and will have to take into account other external prospects, as Turkey will be preparing herself to be a full member of the EU, and in the distant future, to the EMU. If the real change in the euro-dollar basket is compared to the real change in the foreign trade weighted ( weighted considering the share of the EU trade within the total Turkish foreign trade ) currency basket, results indicate that the latter one can be more appropriate in reflecting the trade requirements of Turkey .However , it should be noted that the share in trade is only one factor in the determination of the currency basket that a country can use. It can be affirmed that the implementation of a variable trade weighted currency basket could be a significant alternative for Turkey , reflecting more clearly the divergences than the currently used currency basket.
Download or read book The Politics and Economics of the European Union written by Robert A. Jones and published by Edward Elgar Publishing. This book was released on 2001 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jones (European studies, Sheffield Hallam U., UK) presents an overview of the aims, institutions, and policies of the European Union. After looking at the historical and theoretical perspectives on European integration, comparative looks at other integration projects are discussed in order to shed light on the unique features of the EU. In an examination of the EU's institutional machinery and policy processes, emphasis is placed on the dynamics of institutional change within the Union. Finally, the main EU policies are examined and evaluated. Jones expects that the EU will eventually become much larger and spends some time discussing the future implications of not only an enlarged EU, but also an EU that is more thoroughly integrated with non-EU European countries. Annotation copyrighted by Book News, Inc., Portland, OR
Download or read book Trade in Euro written by United Nations Publications and published by . This book was released on 2003-03-01 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Guide analyzes the implications of the introduction of the Euro for small- and medium-sized enterprises in developing countries. It describes the economic, commercial and financial environment resulting from the creation of the European Monetary Union (EMU) and its impact on non-European countries. It examines practical consequences of the introduction of Euro for enterprises outside the Euro zone and outlines practical adjustments to be considered by these enterprises for conducting advantageous commercial relationships with Euro zone countries. It also provides an overview of the EMU and describes the main steps leading to full implementation of the Euro.
Download or read book Implications of the Euro Currency for the Economies of the ESCWA Region written by and published by . This book was released on 2000 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Introduction of the Euro in the Member States that Have Not Yet Adopted the Common Currency written by and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The report looks at: - levels of knowledge about and experience of the euro among citizens in the six countries covered by the survey; - citizens' feelings about how well they have been informed about the euro and their preferred information channels for learning more about it; - citizens' perceptions of, and support for, the single currency; and - expectations about the adoption of the euro both for citizens themselves and for their country, and any potential positive or negative consequences they imagine. On behalf of the European Commission, Directorate-General for Economic and Financial Affairs (DG ECFIN), Ipsos European Public Affairs interviewed a representative sample of citizens, aged 15 and over, in each of the six Member States that have not yet joined the euro area and have no specific opt-out. Between 17 April 2023 and 25 April 2023, 6 070 interviews were conducted over the telephone (landline and mobile phones). Survey data are weighted to known population proportions. The total results are weighted according to the size of the 15+ population of each EU Member State. A technical note on the methods applied to conduct the survey is appended as an annex to this report.
Download or read book Opting Out of the European Union written by Rebecca Adler-Nissen and published by Cambridge University Press. This book was released on 2014-08-14 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the first in-depth account of how European Union opt-outs and differentiated integration work in practice.
Download or read book Emigration and Its Economic Impact on Eastern Europe written by Mr.Ruben V Atoyan and published by International Monetary Fund. This book was released on 2016-07-20 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses the impact of large and persistent emigration from Eastern European countries over the past 25 years on these countries’ growth and income convergence to advanced Europe. While emigration has likely benefited migrants themselves, the receiving countries and the EU as a whole, its impact on sending countries’ economies has been largely negative. The analysis suggests that labor outflows, particularly of skilled workers, lowered productivity growth, pushed up wages, and slowed growth and income convergence. At the same time, while remittance inflows supported financial deepening, consumption and investment in some countries, they also reduced incentives to work and led to exchange rate appreciations, eroding competiveness. The departure of the young also added to the fiscal pressures of already aging populations in Eastern Europe. The paper concludes with policy recommendations for sending countries to mitigate the negative impact of emigration on their economies, and the EU-wide initiatives that could support these efforts.
Download or read book Andorra and the European Union written by Michael Emerson and published by CEPS. This book was released on 2007 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
