Background: As the consequence of the 2008 U.S. banking crisis, Europe was hit by one of the worst debt crisis. Starting from Greece in autumn 2009, the crisis spread to other European countries, especially Spain, Italy, Ireland and Portugal and forced European policy makers to take many actions to limit its consequences (BOG, 2014, p.42). While others European economies such as Spain, Portugal avoided the severe crisis by following advisory strategy like austerity, reducing public spending…, Greece
Words: 2431 - Pages: 10
After obtaining independence in 1957, the national currency of Malaysia, the ringgit, had been pegged to the Pound Sterling. Following the dismantlement of the Sterling Area in 1972, the ringgit was pegged to the US dollar. The ringgit was allowed to float in June 1973, and again pegged to a basket of major currencies in September 1975. Since then to the middle of the 1980s, the exchange rate policy of BNM had focused on the stabilization of the exchange rate against the Singapore dollar. After several
Words: 260 - Pages: 2
THEORY INTRODUCTION TO FRANK SCHIMMELFENNING AND ULRICH SEDELMEIER In this theoretical disposition we will account for Sedelmeier and Schimmelfennig’s understanding of europeanization theory. In the book ‘The Europeanization of Central and Eastern Europe’ they define three models that each explain a different perspective of the incentives to adopt EU legislation. In the analysis there will be made use of two models; ‘The External Incentives Model’ and ‘The Social Learning Model’. There will
Words: 905 - Pages: 4
could not exceed 3% of GDP (growth & stability pact) • Government debt < 60% GDP • 1999 Euro: rate of 1.16675 dollars per Euro - 11 countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain. • became major international currency • 2001 • 2007 Slovenia, Cyprus • 2008 Malta • 2009 Slovakia • 2011 Estonia < • 10 Eu members do not use the Euro: Bulgaria , Czech Republic, Denmark, Latvia, Lithuania, Hungary, Poland, Russia, Sweden,
Words: 666 - Pages: 3
THE EURO IN CRISIS Objective Of Study The objective of the following study is to understand and analyse the recent euro debt crisis which led to the temporary fall of the euro. Through this study, attempt has been made to single out EU member countries and the events in those countries that led to the crisis. Policy recommendations have also been stated to further help the main objective of dissecting and understanding the problem. INTRODUCTION Over the last two years, the euro zone has been
Words: 22358 - Pages: 90
Eurozone crisis * Q&A: Spain's woes * Keeping the euro together * Who's afraid of the euro crisis? * How eurozone crisis affects you After months of refusing to countenance the possibility of Greece leaving the euro, eurozone politicians slowly began to acknowledge there may be no option but to let the country go. The result of the general election on 17 June will please those who hope Greece will remain in the euro bloc. But the outcome is far from clear. The election result
Words: 1290 - Pages: 6
dollar includes Euro, Japanese Yen and Pound Sterling. The reason I chose Japanese yen to trade in is due to the drop in Asian stocks that signals the global economic recovery is slowing down. When the global economic recovery is slowing down, investors and traders will option for safer assets and currency (Associated Source, 2012). Throughout the years, yen is stable and it is bought by investors who wants to reduce currency risk. Moreover, there has been an appreciation of euro against dollar
Words: 4106 - Pages: 17
4.5 Health 5. Monetary Policy and Inflation 5.1 Exchange Rates 5.2 Inflation 6. Labour Market and Unemployment 7. Conclusion 8. Bibliography 1. Background Portugal joined European Union in 1986 and the euro zone in 2002. It is a developed country and has a very high human development index with the current world ranking of 41. Human Development Index is a composite statistic used to rank countries by level of “human development” measured in terms life
Words: 2858 - Pages: 12
CURRENCY RESEARCH REPORT 15th October, 2010 Morning Forex Overview Market Watch Indices SENSEX NIFTY INR: The Indian rupee rose to a fresh 25-month high today, buoyed by heavy Change -0.92% -0.91% -0.01% 0.08% 0.18% -0.13% foreign inflows related to upcoming share sales. Since Jan 2010, rupee has strengthened by 5.6% against the greenback owing Close 20,497.64 6177.35 to overseas inflows. All Asian currencies, are appreciating vis-à-vis the dollar due to large inflows from foreign
Words: 540 - Pages: 3
was one of the world leaders in terms of standard of living for its citizens. The tourism industry was growing faster and faster and helped to fuel the fire beneath the economy. In fact, Greece’s economy expanded at one of the highest rates in the Euro zone in the early 2000’s due to the high volume of tourists that it accommodated. Unfortunately for them, this growth was about to come to an abrupt halt. When the world economy took a turn for the worse, all of the money that Greece had been borrowing
Words: 2224 - Pages: 9
