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German Adoption Of The Euro
Germany was one of the first countries to adopt the Euro after its introduction in 1999, phasing out its previous national currency, the Deutsche Mark, entirely after 2001. Background The conceptualization of the euro began in the late 1970s, sparked by the desire for a European response to the dominance of the U.S. dollar. German Chancellor Helmut Schmidt and French President Valéry Giscard d’Estaing played pivotal roles in this development. Initially, the euro served as an accounting unit for international transactions, known as the ECU, before evolving into a common currency. The accelerated introduction of the euro was partly influenced by concerns that German reunification might disrupt the balance within the European Union. The euro, in a sense, became intertwined with the process of German unification, reflecting a dual commitment to both national unity and European integration. The euro officially came into existence on 1 January 1999, as part of efforts to create an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Germany
Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total population of over 84 million in an area of , making it the most populous member state of the European Union. It borders Denmark to the north, Poland and the Czech Republic to the east, Austria and Switzerland to the south, and France, Luxembourg, Belgium, and the Netherlands to the west. The Capital of Germany, nation's capital and List of cities in Germany by population, most populous city is Berlin and its main financial centre is Frankfurt; the largest urban area is the Ruhr. Settlement in the territory of modern Germany began in the Lower Paleolithic, with various tribes inhabiting it from the Neolithic onward, chiefly the Celts. Various Germanic peoples, Germanic tribes have inhabited the northern parts of modern Germany since classical ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Economic Community
The European Economic Community (EEC) was a regional organisation created by the Treaty of Rome of 1957,Today the largely rewritten treaty continues in force as the ''Treaty on the functioning of the European Union'', as renamed by the Lisbon Treaty. aiming to foster economic integration among its member states. It was subsequently renamed the European Community (EC) upon becoming integrated into the Three pillars of the European Union, first pillar of the newly formed European Union (EU) in 1993. In the popular language, the singular ''European Community'' was sometimes inaccurately used in the wider sense of the plural ''European Communities'', in spite of the latter designation covering all the three constituent entities of the first pillar. The EEC was also known as the European Common Market (ECM) in the English-speaking countries, and sometimes referred to as the European Community even before it was officially renamed as such in 1993. In 2009, the EC formally ceased to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The union has a total area of and an estimated population of over 449million as of 2024. The EU is often described as a ''sui generis'' political entity combining characteristics of both a federation and a confederation. Containing 5.5% of the world population in 2023, EU member states generated a nominal gross domestic product (GDP) of around €17.935 trillion in 2024, accounting for approximately one sixth of global economic output. Its cornerstone, the European Union Customs Union, Customs Union, paved the way to establishing European Single Market, an internal single market based on standardised European Union law, legal framework and legislation that applies in all member states in those matters, and only those matters, where the states ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Central Bank
The European Central Bank (ECB) is the central component of the Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International use, most important central banks with a balance sheet total of around 7 trillion. The Governing Council of the European Central Bank, ECB Governing Council makes monetary policy for the Eurozone and the European Union, administers the foreign exchange reserves of EU member states, engages in foreign exchange operations, and defines the intermediate monetary objectives and key interest rate of the EU. The Executive Board of the European Central Bank, ECB Executive Board enforces the policies and decisions of the Governing Council, and may direct the national central banks when doing so. The ECB has the exclusive right to authorise the issuance of euro banknotes. Member states can issue euro coins, but the volume must be approved by the EC ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Germany
The concept of Germany as a distinct region in Central Europe can be traced to Julius Caesar, who referred to the unconquered area east of the Rhine as ''Germania'', thus distinguishing it from Gaul. The victory of the Cherusci, Germanic tribes in the Battle of the Teutoburg Forest (AD 9) prevented annexation by the Roman Empire, although the Roman provinces of Germania Superior and Germania Inferior were established along the Rhine. Following the Fall of the Western Roman Empire, the Franks conquered the other West Germanic languages, West Germanic peoples, Germanic tribes. When the Francia, Frankish Empire was divided among Charles the Great's heirs in 843, the eastern part became East Francia, and later Kingdom of Germany. In 962, Otto I became the first Holy Roman Emperor of the Holy Roman Empire, the medieval German state. During the High Middle Ages, the Hanseatic League, dominated by German port cities, established itself along the Baltic Sea, Baltic and North Seas. The gr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of The Euro
The euro came into existence on 1 January 1999, although it had been a goal of the European Union (EU) and its predecessors since the 1960s. After tough negotiations, the Maastricht Treaty entered into force in 1993 with the goal of creating an economic and monetary union (EMU) by 1999 for all EU states except the UK and Denmark (even though Denmark has a fixed exchange rate policy with the euro). The currency was formed virtually in 1999; notes and coins began to circulate in 2002. It rapidly took over from the former national currencies and slowly expanded to the rest of the EU. In 2009, the Lisbon Treaty finalised its political authority, the Eurogroup, alongside the European Central Bank. Development Early ideas The first ideas of an economic and monetary union in Europe were raised well before establishing the European Communities. For example, as earlier on as the League of Nations, Gustav Stresemann had enquired in 1929 for a European currency against the backg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic And Monetary Union
An economic and monetary union (EMU) is a type of trade bloc that features a combination of a common market, customs union, and monetary union. Established via a trade pact, an EMU constitutes the sixth of seven stages in the process of economic integration. An EMU agreement usually combines a customs union with a common market. A typical EMU establishes free trade and a common external tariff throughout its jurisdiction. It is also designed to protect freedom in the movement of goods, services, and people. This arrangement is distinct from a monetary union (e.g., the Latin Monetary Union), which does not usually involve a common market. As with the economic and monetary union established among the 27 member states of the European Union (EU), an EMU may affect different parts of its jurisdiction in different ways. Some areas are subject to separate customs regulations from other areas subject to the EMU. These various arrangements may be established in a formal agreement, or they ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Debt Crisis
The euro area crisis, often also referred to as the eurozone crisis, European debt crisis, or European sovereign debt crisis, was a multi-year debt crisis and financial crisis in the European Union (EU) from 2009 until, in Greece, 2018. The eurozone Member state of the European Union, member states of Greece, Portugal, Republic of Ireland, Ireland, and Cyprus were unable to repay or refinance their government debt or to bailout fragile banks under their national supervision and needed assistance from other eurozone countries, the European Central Bank (ECB), and the International Monetary Fund (IMF). The crisis included the Greek government-debt crisis, the 2008–2014 Spanish financial crisis, the 2010–2014 Portuguese financial crisis, the post-2008 Irish banking crisis and the post-2008 Irish economic downturn, as well as the 2012–2013 Cypriot financial crisis. The crisis contributed to changes in leadership in Greece, Ireland, France, Italy, Portugal, Spain, Slovenia, Sl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Integration
European integration is the process of political, legal, social, regional and economic integration of states wholly or partially in Europe, or nearby. European integration has primarily but not exclusively come about through the European Union and its policies, and can include cultural assimilation and centralisation. The history of European integration is marked by the Roman Empire's consolidation of European and Mediterranean territories, which set a precedent for the notion of a unified Europe. This idea was echoed through attempts at unity, such as the Holy Roman Empire, the Hanseatic League, and the Napoleonic Empire. The devastation of World War I reignited the concept of a unified Europe, leading to the establishment of international organizations aimed at political coordination across Europe. The interwar period saw politicians such as Richard von Coudenhove-Kalergi and Aristide Briand advocating for European unity, albeit with differing visions. Post-World War II Eur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Currency
Fiat money is a type of government-issued currency that is not backed by a precious metal, such as gold or silver, nor by any other tangible asset or commodity. Fiat currency is typically designated by the issuing government to be legal tender, and is authorized by government regulation. Since the end of the Bretton Woods system in 1976 by the Jamaica Accords, the major currencies in the world are fiat money. Fiat money generally does not have intrinsic value and does not have use value. It has value only because the individuals who use it as a unit of account or, in the case of currency, a medium of exchange agree on its value. They trust that it will be accepted by merchants and other people as a means of payment for liabilities. Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains, for example, a precious metal such as gold or silver which is embedded in the coin. Fiat also differs from representative money, which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Welle
(; "German Wave"), commonly shortened to DW (), is a German state-funded television network, state-owned international broadcaster funded by the Federal Government of Germany. The service is available in 32 languages. DW's satellite television service consists of channels in English, Spanish, and Arabic. The work of DW is regulated by the Act, stating 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 centre 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, like all DW programs, can be viewed and listened via its website, YouTube, satellite, rebroadcasting and various apps and digital media players. DW has been ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
