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Essay / Research Paper Abstract
This 15 page paper provides an overview of the development of foreign trade and the European Union (EU). The initiation of the Euro, a single currency, has shifted perspectives in the financial markets and redefined trade elements through the distinct directives under the European Union. Though the participating countries have had to meet economic standards to determine their capacity for participation, the initiation of the Euro has been less than smooth, and questions have been raised about the implications of the single currency and the corresponding unified economic and political elements. Linked to this, then, is the question of how the single currency will impact countries who do not adopt the Euro. Bibliography lists 10 sources.
Page Count:
15 pages (~225 words per page)
File: MH11_MHEuroBu.rtf
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Unformatted sample text from the term paper:
the distinct directives under the European Union. Though the participating countries have had to meet economic standards to determine their capacity for participation, the initiation of the Euro has
been less than smooth, and questions have been raised about the implications of the single currency and the corresponding unified economic and political elements. Linked to this, then, is
the question of how the single currency will impact countries who do not adopt the Euro. One of the central questions raised in the initiation of the
Euro and the progression of the European Monetary Union is how the standardization of a European currency will impact the financial markets of the participating countries as well as the
other countries of the Western world, defining changes in everything from bank mergers to international trade. In order to consider the issues related to the participation in the European
Union, it is necessary to reflect upon the economic changes that have occurred as a result of the European Union and the underlying elements that have defined changes in financial
and political processes over the past decade. The European Monetary Union has not just developed out of the recognized need for economic stability, but also
from the perception that a unified Europe can promote a greater currency base and a larger economic stronghold. The adoption of a single currency was designed to make the
European Euro one of the strongest currencies in the world (Sutherland, 1997). Though the participating countries should recognize that economic strength goes hand in hand with political change (Sutherland,
1997), it is also important to understand that many countries perceive a cost in rejecting the monetary union, rather than simply seeing the benefits. In other words, it may
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