Economic And Monetary Union Of Europe :: essays research papers

Economic and Monetary Union of EuropeThe main primer for creating a European Market was the ripeninginternational competitiveness. In the mid of the eighties the European countriesrecognized that in the long run the national economies alone wont be able tocompete against countries ilk the US, Japan and the immature industrial centers inEast Asia. The biggest advantage of the European integration is the uniquechance of causing significant economic growth in the member countries byabolishing all kinds of barriers e.g. customs controls, trade restrictions,liberation of the movement of capital, tax harmonization, and by the opening ofthe financial market, a common trade policy, a common service market, commonlegal protection of companies and so on.The two countries who support the European integration most (at leasttheir governments) are Germany and France. One reason because might be thatboth countries have a dramatic increase in unemployment rate within the past fewyears. In Bade n-Wrttemberg for example, the neighborhood where I am from, theunemployment rate has gone up from about 4% in 1992 to around 9% nowadays. Most presumable Mr. Chiracs and Mr. Kohls entirely solution concerning the unemployment isa fully integrated economy which for sure would create new jobs in Europe.The German population, however, is scared that a United Europe wouldcreate new jobs only in low wage countries like e.g. Portugal. Many think that aEuropean market with no barriers would would even cause job hollowing out ofGermany. nevertheless the German population likes the strength of the D-Mark and isworried that a single European currency would be weaker. As a result of thismany Germans change their funds into Swiss Francs. So far Switzerland has donequite well by not taking place in all events available. One reason why they arebetter off is that they didnt take place neither in World War I nor in Worldwar II and therefore didnt have to rebuild everything.Some people expect th at in a Unified Europe the standard of living inthe richer countries will decrease composition the people in poorer countries willfare better. One professor of mine once said Somebody must pay for theEuropean Integration. Most likely this will be the richer countries like us. Itwas the same with the German Unification. This shows that even some veryeducated people in Germany are skeptical concerning the new Europe. The lightpoll at the last election of the European parliament seems to be showing thatthe German population is not that much interested in Europe. The averageworker/person if living in Germany or any other European country is not