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Essay / Research Paper Abstract
This 10 page paper traces the development of Greece's entrance into the Single European Currency. The writer looks at the convergence criteria that the country had to meet and the way that policies were implemented to meet these criteria. The writer then considers the result, including statistical data. The bibliography cites 6 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEgreemu.rtf
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Unformatted sample text from the term paper:
on the member countries in the long term. The impact has already been felt, as to become a member there were many difference criteria ht had to be fulfilled, some
economic and some social. Even membership of the EU requires some adjustments and changes. For the more complex and established economies many of the changes that were required passed with
little notice, whilst others were harsher. Even France faced mass strikes when seeking to adapt the budget so that it would meet with the convergence criteria. It is against that
background we can argue that this meant even greater changes in order for their economise to be brought in line. To consider how
this may have impacted in a country such as Greece the first aspect of any study needs to be the outlining of the criteria they had to meet in order
for it to be possible to join the criteria. These convergence criteria were laid down by the Maastricht treaty in 1992, and were seen as necessary in order to bring
the economies of the different countries into the sme cycle and into the same relative position to ensure stability within the currency once in operation. The government spending must be
under control, with the total amount of government borrowing not exceeding 60% of the GDP, the government deficit needs to be no more that 3% of GDP (Bloomberg, 2002). Inflation
needs to be under control, not exceeding 1.5% of the average of the best three countries within the EU, and the long-term interest rates should be within 2% of the
average interest rate of the same three countries with the lowest inflation rate (Bloomberg, 2002). Before entrance into the currency there also needs to have been a minimum of two
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