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Essay / Research Paper Abstract
A 6 page research paper that examines what was expected from the euro and how it has lived up to these expectations. The writer examines the current state of the euro. Bibliography lists 6 sources.
Page Count:
6 pages (~225 words per page)
File: D0_00cureur.rtf
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information on using this paper properly! When Europes new currency was launched on January 1, 1999, it was hailed as Europes answer
to the half-century of domination by the dollar in the global financial system (Fairlamb 24). It was predicted that the euro would "beef up" Europes dwindling economic and political clout
because it would become the reserve currency of choice for the world. (Fairlamb 24). Before the euro came out, for example, China?s central bank appeared to be eager to convert
a significant amount of its $143 billion US dollars in reserve to euros (Fincher PG). It was hoped that the! strength of the euro would be a magnet for capital
from around the world (Fairlamb 24). Even when the euro premiered not all of the member nations of the European Union (EU) were enthusiastic. Great Britain, Sweden and
Denmark chose not to participate in the euro program at this time (Laver 45). Some countries, such as Greece, did not join in the initial participation because they did not
meet the criteria for participation set forth in the Maastricht treaty ("Greece..." PG). Greece is not participating in the euro, as yet, because it did not meet the criteria. However,
factors such as the national budget deficit, long-term interest rates and the public debt in Greece are gradually shrinking to acceptable levels and the country appears to be on target
for euro participation by 2001 (Anonymous PG). !ustright The reluctance of Sweden and Great Britain to participate stems partially from concerns over national sovereignty, but also the participating nations
give up certain economic options. For example, the member nations give up the ability to "finance government deficits by printing more money" and they also give up the option of
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