Early ideas History of the euro

-


pierre werner s report began first moves towards monetary union


first ideas of economic , monetary union in europe raised before establishing european communities. example, in league of nations, gustav stresemann asked in 1929 european currency against background of increased economic division due number of new nation states in europe after world war i. @ time memories of latin monetary union involving principally france, italy, belgium , switzerland , which, practical purposes, had disintegrated following first world war, figured prominently in minds of policy makers.


a first attempt create economic , monetary union between members of european economic community goes initiative european commission in 1969, set out need greater co-ordination of economic policies , monetary cooperation. followed @ meeting of european council @ hague in december 1969. european council tasked pierre werner, prime minister of luxembourg, finding way reduce currency exchange rate volatility. report published in october 1970 , recommended centralisation of national macroeconomic policies entailing total , irreversible fixing of parity rates , complete liberation of movements of capital. did not propose single currency or central bank. attempt limit fluctuations of european currencies, using snake in tunnel, failed.


in 1971, president richard nixon removed gold backing dollar, causing collapse in bretton woods system managed affect of world s major currencies. widespread currency floats , devaluations set aspirations european monetary union. however, in march 1979 european monetary system (ems) created, fixing exchange rates onto european currency unit (ecu), accounting currency, stabilise exchange rates , counter inflation. created european monetary cooperation fund (emcf).


in february 1986 single european act formalised political co-operation within community including competency in monetary policy. european council summit in hannover on 14 june 1988 began outline monetary co-operation. france, italy , european commission backed monetary union central bank, british prime minister margaret thatcher opposed.








Comments

Post a Comment

Popular posts from this blog

Ancient Laconophilia Laconophilia

-
1 ancient laconophilia 1.1 athens 1.2 philosophers 1.3 contrary views ancient laconophilia athens in ancient athens, laconism began current of thought , feeling after persian wars. some, cimon, son of miltiades, believed athens should ally sparta against persian empire. cimon persuaded athenians send soldiers aid sparta, when helots (serfs of spartans) revolted , fortified mount ithome. spartans sent athenians home again thanks, lest democratic athenian ideas influence helots or perioeci. some athenians, disliked commerce, preferred closed society , rule of few. believed spartan constitution superior own. went far imitate spartan manners going around athens long-haired , unwashed, spartiates. plato s republic, set in 5th century bc, gives credence claim having socrates opine spartan or cretan type of political regime favorite of many . a group of extreme laconising oligarchs, known thirty tyrants, seized power in athens in 404 bc , held eleven months, assisted spartan army. rule, howe...
Read more

Ballysillan and Upper Crumlin Road Crumlin Road

-
ballysillan presbyterian church the ballysillan road leads off crumlin road , major area of loyalist housing. containing likes of silverstream , carr s glen districts, ballysillan road continues far north. circular road in turn links antrim road, began @ carlisle circus. during northern ireland troubles ballysillan noted centre loyalist paramilitary activity , home base of d company of ulster volunteer force (uvf) under command of john bingham along glenbryn, ballysillan @ centre of loyalist feud in 2003 when jimbo simpson, had been ousted head of north belfast brigade of ulster defence association (uda), attacked number of houses in area part of failed attempt retake control of brigade , force out replacement william borland. crumlin road entrance ballysillan houses historic church, ballysillan presbyterian church. due elevated , exposed location ballysillan, takes name irish language expression meaning townland of willow grove , 1 of coldest areas of city during winter. ballysilla...
Read more

Benefits Al-Anon/Alateen

-
1 benefits 1.1 problems 1.2 improvement 1.3 treatment of alcoholism benefits problems al-anon/alateen literature focuses on problems common family members , friends of alcoholics such excessive care-taking, inability differentiate between love , pity , loyalty abusers, rather problems of alcoholic. organization acknowledges members may join low self-esteem, largely side-effect of unrealistically overestimating agency , control: attempting control person s drinking behavior and, when fail, blaming other person s behavior. improvement participation in al-anon has been associated less personal blame women who, whole, engage in more initial personal blame drinking men. family members of alcoholics begin improve learn recognize family pathology, assign responsibility pathology disease, forgive themselves, accept adversely affected pathology , learn accept family members shortcomings. al-anon members encouraged keep focus on themselves, rather on alcoholic. although members believe changed ...
Read more