Here is the synopsis of our sample research paper on Advantages Of Transition Economies Joining EMU. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
A 5 page paper. The Economic Monetary Union (EMU) was outlined in the Treaty on European Union, signed in 1992 in Maastricht. Fifteen nations are now members with about twelve more applying for membership. The applicants are all transition economies who are struggling to meet the criteria to join. This paper outlines the criteria and discusses the advantages these nations will gain from membership. The writer also comments on what some of the future disadvantages may be. Bibliography lists 6 sources.
Page Count:
5 pages (~225 words per page)
File: MM12_PGemutrs.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
This will be achieved by the unification of monetary policies across Europe and the introduction of a single currency (the "euro")" (EUROPEN, nd). The goal of the EMU has global
effects (EUROPEN, nd). Nations cannot just decide to join the EMU, they must meet certain criteria, which include: 1. a ratio of Government debt to GDP of not more than
60%, unless the ratio is "sufficiently falling" (EUROPEN, nd). 2. an inflation rate of no more than 11.5% greater than the average of the 3 best performing countries (EUROPEN, nd).
3. a Government deficit of no more than 3% of GDP in "normal circumstances" (EUROPEN, nd). 4. long-term interest rates should not be more than 2% greater than the average
of the 3 best performing countries (in terms of price stability) (EUROPEN, nd). 5. membership of the Exchange Rate Mechanism (ERM) without "severe tensions" for at least 2 years before
examination (EUROPEN, nd). Member states in the EMU are: France, Denmark, Germany, Austria, Italy, Belgium, The Netherlands, Luxembourg, Spain, Portugal, Greece, Finland, Sweden, United Kingdom, Ireland (EUROPEN, nd). These nations
have met the criteria for membership and have agreed to adopt the single currency, the euro, as their own (EUROPEN, nd). There are also a number of countries that have
applied for membership, including: Poland, Latvia, Estonia, Hungary, Czech Republic, Bulgaria, Lithuania, Slovak Republic, Slovenia, Romania, Malta, Turkey and Cyprus (EUROPEN, nd). These are transition economies in that they are
attempting to change their economic practices and foundations in order to meet the Maastricht criteria. Not an easy task for many of them. It will not be an easy transition
for many of these countries. Governments in Bulgaria, Poland and Hungary, for example, need to have a better infrastructure and clearer expenditures as well as clearer laws on fiscal responsibilities
...