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Enlargement Of The Eurozone
The enlargement of the eurozone is an ongoing process within the European Union (EU). All member states of the European Union, except Denmark which negotiated an opt-out from the provisions, are obliged to adopt the euro as their sole currency once they meet the criteria, which include: complying with the debt and deficit criteria outlined by the Stability and Growth Pact, keeping inflation and long-term governmental interest rates below certain reference values, stabilising their currency's exchange rate versus the euro by participating in the European Exchange Rate Mechanism (ERM II), and ensuring that their national laws comply with the ECB statute, ESCB statute and articles 130+131 of the Treaty on the Functioning of the European Union. The obligation for EU member states to adopt the euro was first outlined by article 109.1j of the Maastricht Treaty of 1992, which became binding on all new member states by the terms of their treaties of accession. , there are 19 EU memb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a ''sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Welle
Deutsche Welle (; "German Wave" in English), abbreviated to DW, is a German public, state-owned international broadcaster funded by the German federal tax budget. The service is available in 32 languages. DW's satellite television service consists of channels in English, German, Spanish, and Arabic. The work of DW is regulated by the Deutsche Welle Act, meaning that content is intended to be independent of government influence. DW is a member of the European Broadcasting Union (EBU). DW offers regularly updated articles on its news website and runs its own center for international media development, DW Akademie. The broadcaster's stated goals are to produce reliable news coverage, provide access to the German language, and promote understanding between peoples. It is also a provider of live streaming world news which can be viewed via its website, YouTube, and various mobile devices and digital media players. DW has been broadcasting since 1953. It is headquartered in Bonn, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungary And The Euro
While the Hungarian government has been planning since 2003 to replace the Hungarian forint with the euro, , there is no target date and the forint is not part of the European Exchange Rate Mechanism (ERM II). An economic study in 2008 found that the adoption of the euro would increase foreign investment in Hungary by 30%, although current governor of the Hungarian National Bank and former Minister of the National Economy György Matolcsy said they did not want to give up the country's independence regarding corporate tax matters. Adopting the euro Under the socialist governments between 2002 and 2010 Hungary originally planned to adopt the euro as its official currency in 2007 or 2008. Later 1 January 2010 became the target date, but that date was abandoned because of an excessively high budget deficit, inflation, and public debt. For years, Hungary could not meet any of the Maastricht criteria. After the 2006 election, Prime Minister Ferenc Gyurcsány introduced austerity me ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2000 Danish Euro Referendum
A referendum on joining the Eurozone was held in Denmark on 28 September 2000. Nohlen, D & Stöver, P (2010) ''Elections in Europe: A data handbook'', p525 It was rejected by 53.2% of voters with a turnout of 87.6%.Results and background for referendum EU Oplysningen Background On 2 June 1992, Danish voters rejected the in a . On 18 May 1993, Denmark ratified an amended treaty in accordance with the[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Denmark And The Euro
Denmark uses the krone as its currency and does not use the euro, having negotiated the right to opt out from participation under the Maastricht Treaty of 1992. In 2000, the government held a referendum on introducing the euro, which was defeated with 53.2% voting no and 46.8% voting yes. The Danish krone is part of the ERM II mechanism, so its exchange rate is tied to within 2.25% of the euro. Many political parties in Denmark favour the introduction of the euro and the idea of a second referendum has even been suggested several times since 2000. However, some important parties such as the Danish People's Party, Socialist People's Party and Red–Green Alliance do not support joining the currency. Public opinion surveys have shown fluctuating support for the single currency with majorities in favour for some years after the physical introduction of the currency. However, following the financial crisis of 2008, support began to fall, and in late 2011, support for the euro cr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Czech Euro Coins
The Czech Republic is bound to adopt the euro in the future and to join the eurozone once it has satisfied the euro convergence criteria by the Treaty of Accession since it joined the European Union (EU) in 2004. The Czech Republic is therefore a candidate for the enlargement of the eurozone and it uses the Czech koruna as its currency, regulated by the Czech National Bank, a member of the European System of Central Banks, and does not participate in European Exchange Rate Mechanism II (ERM II). Although the Czech Republic is economically well positioned to adopt the euro, following the European debt crisis there has been considerable opposition among the public to the adoption of the euro currency. , there is no target date by the government for joining the ERM II or adopting the euro. The cabinet that was formed following the 2017 legislative election does not officially plan to proceed with euro adoption within its term. The non-adoption policy was continued by the succee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Czech Republic And The Euro
The Czech Republic is bound to adopt the euro in the future and to join the eurozone once it has satisfied the euro convergence criteria by the Treaty of Accession since it joined the European Union (EU) in 2004. The Czech Republic is therefore a candidate for the enlargement of the eurozone and it uses the Czech koruna as its currency, regulated by the Czech National Bank, a member of the European System of Central Banks, and does not participate in European Exchange Rate Mechanism II (ERM II). Although the Czech Republic is economically well positioned to adopt the euro, following the European debt crisis there has been considerable opposition among the public to the adoption of the euro currency. , there is no target date by the government for joining the ERM II or adopting the euro. The cabinet that was formed following the 2017 legislative election does not officially plan to proceed with euro adoption within its term. The non-adoption policy was continued by the succ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bulgarian Euro Coins
Bulgaria plans to adopt the euro and become the 21st member state of the Eurozone. The lev has been on the currency board since 1997 through a fixed exchange rate of the Bulgarian lev against the Deutsche Mark. The euro is targeted to be introduced on 1 January 2024, making the euro the country's second currency after more than 140 years of the lev being the national currency. The official exchange rate of the lev against the euro is 1.95583 lev for 1 euro. Convergence criteria Bulgaria committed to switching its currency, the lev, to the euro upon its joining the European Union in 2007, as stated in its EU accession treaty. The transition will occur once the country meets all the euro convergence criteria; it currently meets three of the five criteria. As the current lev was fixed to the Deutsche Mark at par, the lev's peg effectively switched to the euro on 1 January 1999, at the rate of 1.95583 leva = 1 euro, which is the Deutsche Mark's fixed exchange rate to the euro. B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Council Of The European Union
The Council of the European Union, often referred to in the treaties and other official documents simply as the Council, and informally known as the Council of Ministers, is the third of the seven Institutions of the European Union (EU) as listed in the Treaty on European Union. It is one of two legislative bodies and together with the European Parliament serves to amend and approve or veto the proposals of the European Commission, which holds the right of initiative. The Council of the European Union and the European Council are the only EU institutions that are explicitly intergovernmental, that is, forums whose attendees express and represent the position of their Member State's executive, be they ambassadors, ministers or heads of state/government. The Council meets in 10 different configurations of national ministers (one per state). The precise membership of these configurations varies according to the topic under consideration; for example, when discussing ag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bulgaria And The Euro
Bulgaria plans to adopt the euro and become the 21st member state of the Eurozone. The lev has been on the currency board since 1997 through a fixed exchange rate of the Bulgarian lev against the Deutsche Mark. The euro is targeted to be introduced on 1 January 2024, making the euro the country's second currency after more than 140 years of the lev being the national currency. The official exchange rate of the lev against the euro is 1.95583 lev for 1 euro. Convergence criteria Bulgaria committed to switching its currency, the lev, to the euro upon its joining the European Union in 2007, as stated in its EU accession treaty. The transition will occur once the country meets all the euro convergence criteria; it currently meets three of the five criteria. As the current lev was fixed to the Deutsche Mark at par, the lev's peg effectively switched to the euro on 1 January 1999, at the rate of 1.95583 leva = 1 euro, which is the Deutsche Mark's fixed exchange rate to the euro. B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vending Machine
A vending machine is an automated machine that provides items such as snacks, beverages, cigarettes, and lottery tickets to consumers after cash, a credit card, or other forms of payment are inserted into the machine or otherwise made. The first modern vending machines were developed in England in the early 1880s and dispensed postcards. Vending machines exist in many countries and, in more recent times, specialized vending machines that provide less common products compared to traditional vending machine items have been created. History The earliest known reference to a vending machine is in the work of Hero of Alexandria, an engineer, and mathematician in first-century Roman Egypt. His machine accepted a coin and then dispensed holy water. When the coin was deposited, it fell upon a pan attached to a lever. The lever opened a valve which let some water flow out. The pan continued to tilt with the weight of the coin until it fell off, at which point a counterweight snappe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cooperation And Verification Mechanism
The Mechanism for Cooperation and Verification (CVM) is a safeguard measure invoked by the European Commission when a new member or acceding state of the European Union has failed to implement commitments undertaken in the context of the accession negotiations in the fields of the Area of freedom, security and justice or internal market policy. Background Common practice in the EU is that during accession negotiations there are agreed some temporary transitional periods after accession of new states for derogation of application for specific parts of the ''acquis communautaire'', because of difficulties either for the new member state (lime environmental regulations for large combustion plants) or for the old member states (like free movement of workers). Such temporary transitional periods in regard to particular member states are also implemented when various new pieces of EU legislation are adopted . In some cases the derogation is not temporary but permanent. Such derog ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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