Countries in the Euro zone are restrained from pursuing their self- interest by mutually respecting each other’s sovereignty and independence rights. However, Euro zone must adhered to EMU operating principles. Good governance must be practice at all transactions to avoid future crisis2.
January 1, 1999 saw the official launch of the Economic and Monitory Union (EMU). On that day, eleven European countries joined the EMU and five more followed suit years later. Now, EMU is comprised of sixteen member European countries. The first to join were Austria, Belgium, Germany, France, Ireland, Italy, Finland, the Netherlands, Portugal, Luxembourg, and Spain. Greece followed in 2001, then Slovenia in 2007 while Cyprus and Malta joined in 2008. The last to join was Slovakia in 2009. EMU countries adopted Euro as a single currency for transaction purposes. The chief reasons that lead to EMU were mainly to stabilize prices, macroeconomic environment, banking system, financial markets as well as increase trade competitiveness and boost flexibility in the member countries3. Before and after the official launch, different people had different views concerning the sustainability of the Euro Zone especially on areas of viability and desirability. Supporters of EMU claimed that common currency has the potential to improve trade, attract more foreign direct investment, stabilize wages and enhance business strategies of member countries. On the contrary, they are opponents who predict that Euro zone is heading for a disaster4. They pegged their arguments on the premise that countries in the Euro Zone are diverse and put individual interest forward at the expense of the EMU. There are benefits and costs associated with Economic and Monitory Union. If costs are more than benefits, EMU may not survive in future and if vice versa, union will endure the test of time.
The first advantage is that common currency reduces costs ...
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The purpose of this exercise is to create my own personal development plan for the next five years, utilizing VARK, Myers-Briggs, and a SMART action plan. Included in this personal development plan are also my resume and career goals and objectives. Resume Education: High School Adana, Turkey University Cankaya University Computer Engineering Major interests: Programming languages such as C, C++, PhP and Csharp Developed software group and website for local businesses Senior Project: Formal Specification languages :Z notation IBM Vienna Development model Accomplishments: Cisco Network Administration certification Employment: Karahan PLC, TurkeyNetwork Administration Education Goal: MBA (Manag
As a result, the first step towards a universal system took place with the introduction of International Financial Reporting Standards (IFRS). A new standard was created, IRFS 13, and was implemented in over 100 countries.
Eurozone. Eurozone or Euro area is the name given to the economic and monetary union of seventeen countries from Europe. Their membership represents the fact that they have chosen to use euro as their sole currency for all purposes. These countries include “Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain” (Lynn, pp.
For example, in buying a perfume, a consumer can sit from his couch and access all the necessary information in the Internet. He could learn from the plethora of reviews on a brand - honest, updated and sophisticated point of views. The technological advances also allow him to compare many products all at the same time, find deals and who knows what else.
The euro is a single currency arrangement that came into theoretical operation between 12 members of the European Union in January 1999 (What are the arguments 2002). Two months after the euro was introduced as a cash currency on 1 January 2002, the euro has finally become the only legal tender currency in the 12 European countries (Schifferes 2002).
Furthermore, Inductive-Consensual IS's are commonly used in everyday life. However, there are several situations that are appropriate for Inductive-Consensual IS and a procedure may be suitable for one set of special circumstances but is not appropriate for all.