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Ads by Google      Economic and Monetary Union - Wikipedia, the free encyclopedia In economics, a monetary union is a situation where several countries have agreed to share a single currency among them. The 10 new countries that acceded to the European Union in 2004 all intend to join third stage of the EMU in the next ten years, though the precise timing depends on various economic factors. On 1 June 1998, the European Central Bank (ECB) is created, and in 31 December 1998, the conversion rates between the 11 participating national currencies and the euro are established. http://en.wikipedia.org/wiki/European_Monetary_Union   (648 words)      European Monetary Union: Operating Monetary Policy - Finance & Development - September 1996 Stage 3 is defined as the ultimate stage of economic and monetary union wherein the currencies of the participating EU countries are irrevocably locked and replaced by a single currency, the euro. The Maastricht Treaty on European Union states that members of the European Union (EU) should decide before the end of 1996 whether the majority of member countries meet the specified convergence criteria to start Stage 3 of the Economic and Monetary Union and whether it is appropriate to enter Stage 3. If much weight is placed on their monetary control function, the reserve requirement ratio (the ratio of banks' required reserves held at the NCB to banks' deposit liabilities) should be non-negligible, and the reserves should not be fully remunerated. http://www.worldbank.org/fandd/english/0996/articles/070996.htm   (3528 words)      Regional policy - Wikipedia, the free encyclopedia Although the European Union is one of the richest parts of the world, there are large internal disparities of income and opportunity between its regions. The argument for regional policy is that it is both an instrument of financial solidarity and a powerful force for economic integration. The post-1997 Labour administration has reorganised regional policy, with RSA replaced by Selective Finance for Investment. http://en.wikipedia.org/wiki/Regional_policy   (342 words)      European Union - Encyclopedia.WorldSearch A key activity of the EU is the establishment and administration of a common single market, consisting of a customs union, a single currency (adopted by 12 of the 25 member states), a Common Agricultural Policy and a Common Fisheries Policy. On account of this unique structure, the European Union is perhaps best seen as neither an international organisation nor a confederation or even federation, but rather a sui generis entity. The "European Community" is one of the three pillars of the European Union, being both the most important pillar and the only one to operate primarily through supranational institutions. http://encyclopedia.worldsearch.com/european_union.htm   (3984 words)      South-Western: European Monetary Union Supporters of the European Monetary Union argue that the introduction of a common currency will reduce transaction costs and increase the volume of trade among the participating countries. One of the shortcomings of the European Monetary Union is that three members of the European Union (Britain, Denmark, and Sweden) have chosen to not participate in the European Monetary Union. The economic advantages of EMU [European Monetary Union] increase in proportion to the size and stability of the euro region. http://www.swlearning.com/economics/policy_debates/monetary_union.html   (1625 words)      Encyclopedia: Trade union American and European unions are founded upon democratic principles and leaders are selected through an election process while in China, the union is controlled and run by the state. Union membership has been steadily declining for the past decade or so in all but the public sector (that is, unions of government employees). In an open shop, a business may employ anyone it likes, regardless of their union status, and workers are not required to associate with a union at all. http://www.nationmaster.com/encyclopedia/Trade-union   (1625 words)      A Concise Encyclopedia of the European Union --E-- With the launch of the single currency in 1999, the influential Monetary Committee (consisting of two high officials from each member state and two from the Commission) was augmented by the addition of two members from the European Central Bank and was renamed the Economic and Financial Committee. Little caring for national political independence, the multinational corporations saw in EMU the prospect of regional currency stability, enabling them to plan capital expenditure and to budget costs and revenue with more assurance. The Treaty stipulates that the bank must be free of political influence and that it is responsible for the monetary policy, foreign exchange operations and management of the reserves of the countries participating in the single currency. http://www.euro-know.org/dictionary/e.html   (11086 words)      Development of regional policy in Estonia The co-ordination between regional and sectoral policies and on vertical scale with the European Union authorities is weak. Regional Policy and Regional Structure in the Former Soviet Union: From Unity to Disintegration. The state budget for regional policy activities was reduced by 10% to 40.6 MEEK (2.7 MECU). http://www.geo.ut.ee/nbc/paper/jauhiainen.htm   (6121 words)      AllRefer.com - Germany - Germany and the European Monetary Union German Information Resource Gleske also observed that one of the objectives of a European currency would be to assume the leading international role that even the deutsche mark could not assume and that such a European currency could gradually replace the dollar as a transactions and reserve currency. A full EMU will come about when the Bundesbank is satisfied that all European governments are fully committed to stability and when they have shown this commitment by adhering to the convergence criteria and by passing whatever other tests the bank may yet pose. The institute was given a mandate to coordinate EU members' monetary policy, to oversee preparations for the transfer to a European currency, and to create the right condit ions for the final stage of monetary reform--a European System of Central Banks (ESCB), a single European Central Bank (ECB), and a common currency. http://reference.allrefer.com/country-guide-study/germany/germany117.html   (2496 words)      European Union Regional policy - Wikipedia, the free encyclopedia The Regional policy of the European Union is a policy with the stated aim of improving the economic well being of certain regions in the EU. The recognition of Objective One status is usually accompanied by structural funds support from the European Community as part of its regional policy. Most of these states are poorer than the existing members and the impact of this means that the EU's average GDP per capita has been reduced leading to some regions in the existing EU-15 no longer qualifying for extra financial help. http://en.wikipedia.org/wiki/European_Union_Regional_policy   (715 words)      CAP - Publikationen - Regional Policy-Making in Central and Eastern Europe Regional development has attracted increasing attention in the enlargement process of the EU because the main channel to support the economic convergence of the Central and East European Countries after their accession will be the structural policy of the EU which is focused on regional development and regional actors. Although the national paths of institution building vary considerably, most countries have undergone phases when regional policy was focused on managing regional labour market and economic crises which were caused by the closure or labour-shedding of large-scale state socialist enterprises dominating regional economies. All the studies are policy-oriented in the sense that they go beyond a mere analysis and propose policy reforms in order to improve the institutional, legal and financial basis as well as the inter-organisational coordination required for effective and efficient regional development policies. http://www.cap.uni-muenchen.de/publikationen/cap/regional_policy_making.htm   (1074 words)      Economics 415 Syllabus Calcagnini, Giorgio, Fabio Farabullini, and Donald Hester, "Financial Convergence in the European Monetary Union? Mongelli, Francesco, "Effects of the European Monetary Union on Taxation and Interest Spending of National Governments," IMF Working Paper, WP/97/93, International Monetary Fund, July 1997. Lauer, Charlotte, "The Effects of European Economic and Monetary Union on Wage Behavior," Intitute for the Study of Labor, Discussion Paper No. 36, Centre for European Economic Research-Bonn, March 1999. http://www.oberlin.edu/~dcleeton/syll_415.htm   (8766 words)      BIGpedia - European Union - Encyclopedia and Dictionary Online The "European Community" is one of the three pillars of the European Union, being both the most important pillar and the only one to operate primarily through supranational institutions. The term European Community (or Communities) was used for the group of members prior to the establishment of the European Union. The Union was established under that name by the Treaty on European Union (commonly known as the Maastricht Treaty) in 1992. http://www.bigpedia.com/encyclopedia/European_Union   (3927 words)      European Union information - Lawlinks European Monetary Union - government policy from the UK Treasury The European Union Select Committee of the House of Lords, and access to its sub-committees European Constitutionalism, from Manchester University Institute of European studies. http://library.kent.ac.uk/library/lawlinks/european.htm   (1601 words)      EUobserver.com The European Commission is to revive its original proposal on the next EU budget on Thursday with regional commissioner Danuta Hubner arguing that it is too late for revolutionary ideas on the budget. The European Commission is concerned that its ambitious "Plan D" will not be implemented on time, as MEPs are set to initially block the money necessary for the scheme. The eurozone's annual inflation has risen to its highest rate since 2001, with the European Central Bank (ECB) watching the figures closely with a view to possibly increasing the bloc's interest rates to tackle the inflationary pressures. http://www.euobserver.com   (695 words)      European Union Association Agreement - Wikipedia, the free encyclopedia In recent history, such agreements are signed as part of two EU policies: Stabilisation and Association process (SAp) and European Neighbourhood Policy (ENP). The EU typically concludes Association Agreements in exchange for commitments to political, economic, trade, or human rights reform in a country. Partnership and Co-operation Agreement (PCA), Country Report (CR), ENP Action Plan (AP) http://en.wikipedia.org/wiki/Stabilization_and_Association_Agreement   (749 words)      Encyclopedia article on History of the European Union [EncycloZine] On the side of the European Union it was partly motivated by a desire to reunite Europe after the end of the Cold War, and an effort to tie Eastern Europe firmly to the West in order to prevent it falling again into communism or dictatorship. The European Union grew out of the European Coal and Steel Community (ECSC), which was founded in 1951, by the six founding members: Belgium, the Netherlands and Luxembourg (the Benelux countries) and( West) Germany, France and Italy. Many would see this German initiative as an institution of dominance based on Nazi conquest and not a true predecessor of the future European Union. http://encyclozine.com/History_of_the_European_Union   (749 words)      CELCEE - Regional Policy: Successful 2005 Shows the Way to More Jobs and Growth European Union Regional Policy Commissioner Danuta Hubner has applauded the organization’s member states for their high levels of payments towards Structural and Cohesion funds in 2005. States paid 16.9 billion euros under the European Regional Development Fund and an additional 3 billion under the Cohesion Fund. According to Cohesion Policy, member fees are assigned to priority actions amongst member states to promote economic growth and job creation. http://www.celcee.edu/abstracts/c20060860.html   (103 words)      The Association Agreement Between Tunisia and the European Union Finance & Development - September 1996 Support provided by the European Union, in accordance with the Agreement, is expected to encourage the Tunisian authorities to undertake the reforms needed to address these problems. The Agreement is likely to have a profound impact on the Tunisian economy, although both the sectoral changes it is likely to produce and their precise timing are difficult to predict. As to the impact on savings, investment, and the balance of payments, the Agreement is likely to result, at least initially, in lower savings and higher investment, and thus a widening of the trade and external current account deficits. http://www.worldbank.org/fandd/english/0996/articles/040996.htm   (1966 words)      BBC NEWS Business Euro sinks after Dutch 'No' vote Meanwhile, Dutch central bank chief Nout Wellink dismissed claims that European Monetary Union could break apart as a result of the vote. But commentators have said that while the "No" votes from France and the Netherlands have not helped, the main reason for the currency's current lows was the recent string of interest rate rises in the US. But despite such concerns, the European Central Bank (ECB) voted to leave rates unchanged - meaning they have now been stationary at 2% for two full years. http://news.bbc.co.uk/go/newsFeedXML/moreover/-/1/hi/business/4602229.stm   (479 words)      EU & Syria: EU-Syria Association Agreement The FTA should be in conformity with the General Agreement on Tariffs and Trade and the other relevant WTO multilateral agreements on trade. The Association Agreements provide a framework to expand and deepen co-operation between government and non-governmental organisations in economic, financial, social and cultural fields so as to build a multifaceted Partnership. At the same time, taking into account the different degree of development of the partners, the Association Agreements foresee an asymmetrical trade liberalisation, with the EU immediately opening its market while partners benefit from a transition period to do so. http://www.delsyr.cec.eu.int/en/eu_and_syria/eu_syr_association_agreement.htm   (639 words)      EUguides - Regional Policy in the European Union - EUbusiness - EU law, politics and finance Although the European Union is one of the richest parts of the world, there are striking internal disparities of income and opportunity between its regions. To supplement these programmes, the Union has set aside a further €23 billion from the structural and cohesion funds to be spent in the new member states in the period 2004-2006. The Union has created tailor-made financial programmes for the period 2000-2006 to help the newcomers adjust to membership and to start narrowing the income gap with the rest of the Union. http://www.eubusiness.com/guides/regional   (1063 words)      EUROPEAN UNION-SYRIA: CONCLUSION OF THE NEGOTIATIONS FOR AN ASSOCIATION AGREEMENT After signature, each Agreement has to be ratified by the European Parliament, by each EU member state and the Mediterranean Partner before it enters into force. The Agreements provide for EU financial assistance for the Partners (except Cyprus, Israel and Malta), the main areas for such co-operation and for an economic dialogue, but no amounts of financial assistance are specified. The agreement covers trade in goods, services, public procurement, rules for the protection of intellectual property rights, as well as dispute settlement provisions in line with those in the WTO. http://www.eurunion.org/News/press/2003/2003079.htm   (978 words)      SICE- Association Agreement between the European Union and Chile The Association Council shall be assisted in the performance of its duties by an Association Committee composed of representatives of the Members of the Council of the European Union and of the European Commission, on the one hand, and representatives of the Government of Chile, on the other, normally at senior officials level. The Association Council shall be chaired in turn by a Member of the Council of the European Union and by the Minister of Foreign Affairs of Chile, in accordance with the provisions laid down in its rules of procedure. The Association Parliamentary Committee shall be chaired in turn by a representative of the European Parliament and a representative of the Chilean National Congress, in accordance with the provisions to be laid down in its rules of procedure. http://www.sice.oas.org/Trade/chieu_e/chieu1_e.asp   (12090 words)      871 Baggrunds-papir vedr. EU-Israel associerings-aftalen The European Parliament may, acting by a majority of its Members, request the Commission to submit an appropriate proposal on matters on which it considers that a Community action is required for the purpose of implementing the Treaty establishing the European Community (e.g. The suspension of the EU-Israel Association Agreement would be both the implementation of the customary norm of general international law “inadimplenti non est adimplendum”, codified by the Vienna Convention on the Law of treaties, and of the EU Member States’ obligation to ensure respect for the Fourth Geneva Convention in all circumstances. As Europeans, we cannot be responsible for Israel’s behavior, but we carry a responsibility for the behavior of European governments and institutions within the EU and for their foreign policy. http://www.danpal.dk/index.php?doc=871   (4774 words)      RADIO FREE EUROPE/ RADIO LIBERTY A report recently issued by the European Union's executive Commission estimates it could take generations for incomes in the Central and Eastern European candidate countries to catch up with those of the present 15 EU member states. Looking at the present union of 15 members, the report says there is a clear gap in incomes between the poorest states -- Spain, Greece and Portugal -- and the 12 others. It details the increased complexity facing the union on the issue of special funding for poorer regions, and asks how the billions of dollars involved should be shared out in the future. http://www.rferl.org/features/2001/02/07022001105331.asp   (1006 words)      Information Sources: Western Europe & The European Union The Centre for European Reform is a think-tank devoted to improving the quality of the debate on the future of the European Union. Information available at the site includes European Union (EU) law, business and news developments in Europe, finance and EU programs. European Union Relations with the United States: quick and easy access to the New Transatlantic Agenda, the Joint EU-U.S. Action Plan... http://www.columbia.edu/cu/lweb/indiv/lehman/guides/westoid.html   (2387 words)      European Monetary Union and the Euro The UK arm of the KMPG firm of management consultants has surveyed companies across Europe on the key strategic business issues presented by European Monetary Union. The Association for the Monetary Union of Europe is a lobbying group for the establishment of monetary union backed by many European companies. European Monetary Union: Implications, Opportunities and Challenges is the text of a speech given by Richard Fuld, chairman of Lehman Brothers http://www.stern.nyu.edu/~nroubini/Emu/Emu.htm   (541 words)      The search for a European intelligence policy The establishment of Europol was agreed in the Maastricht Treaty on European Union of 7 February 1992. Europol is the European Union law enforcement organisation that handles criminal intelligence. The United States and security in Europe (Paris: Western European Union 1996). http://www.fas.org/irp/eprint/baker.html   (541 words)      NodeWorks - Encyclopedia: European Union The "European Community" is one of the three pillars of the European Union, being both the most important pillar and the only one to operate primarily through supranational institutions. The term European Community (or Communities) was used for the group of members prior to the establishment of the European Union. The Union was established under that name by the Treaty on European Union (commonly known as the Maastricht Treaty) in 1992. http://pedia.nodeworks.com/E/EU/EUR/European_Union   (3890 words)

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