Here is the synopsis of our sample research paper on Benefits and Problems with a Single European Currency. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
The European Union is growing, as the membership has increased so have the number of countries whishing to take part in the single European currency; the Euro. This 7 page paper examines the benefits of joining the single European currency, which includes aspects such as transparency, reduced transaction costs and potential stability. The paper the looks at the problems and disadvantages, and why some countries arc hosing not to join the currency. The bibliography cites 16 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEbensing.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
indicated they wish to join at the earliest opportunity. Slovenia, Estonia Cyprus and Lithuania have all indicated they could take the initial steps to joining by the end of 2004,
meaning they could join by 2007 (Parker, 2004, Daneshkhu et al, 2004). Many of these countries are poorer than the exiting EU members, of which twelve have adopted the currency.
However, the benefits cannot be overwhelming, and there must be disadvantages, as of the former fifteen members three did not adopt it, including the UK. The management of the currency
was seen as one of the most problematic aspects even when may of the advantages were realised. From the early days there were concerns by some countries that the
single currency would have hidden costs for some members. The ability for a single monetary policy to cover diverse economies and manage them was recognised as a problem. Many of
the aims of the Maastricht Treaty were to bring the economies into the same economic cycles, making this type of management easier.
The 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. 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
...