Suchergebnisse

The article looks into the process of "building" the monetary union of the EU member countries & creating the European currency, the euro. Following lengthy negotiations, the euro-system era commenced on 1 Jan 1999, when the euro was launched, marking the beginning of the third phase of the monetary union. At first, the euro will be virtual money & function as a dual currency, but in 2002, it will be printed/coined for everyday usage. In the first half of that year, local currencies will be replaced by the euro in eleven EU countries that have satisfied the stringent criteria of "suitability" for joining the monetary union. 1 Appendix. Adapted from the source document.

Europe is a contingent product of its institutions rather than a political project. Although the announced goal was simplification & rationalization of its institutional system, the opposite occurred: the system has become even more complex. The author looks into the process dynamics & implementation results of the Lisbon Treaty (effective 1 December 2009), showing that the traditional European compromise leads to outcomes that none of the actors really wanted, & that no one is satisfied with. The European Union is an arena of institutional coercions & games, the rules of which are occasionally readjusted. This occasional readjustment accounts for the survival of the system, which is a priori unstable, for each unsatisfied partner thinks & hopes that redefinition might provide him with an opportunity to gain a better position. The process is especially visible in negotiations regarding the Lisbon Treaty, above all in the institutional innovation which is the function of the new president (of the European Council). The conclusive interpretation of the Lisbon Treaty will depend on the outcome of the bureaucratic struggle right until 2011, & prior to a new definition of the rules, undoubtedly no later than 2014. The new EU system testifies primarily to the fundamental trait of European integration, which strongly favoured from the outset a repeated rethinking of its form (its institutions) in the light of considerations regarding its goals (its policies). Adapted from the source document.

At the time of its inception, the EEC's founders already expressed their desire to institute on the territory of the future integration an economic & monetary union with the aim of creating "the United States of Europe." The 1962 program of the European Commission for the Community's Development was designed along these lines. Following a number of years of successful economic cooperation of member states, the creation of the monetary union was negotiated at the 1998 Maastricht meeting, while the beginning of the implementation was envisaged for early 1999. The 1997 Luxembourg meeting was a turning point in the EU's development. The extension of the EU was agreed upon, & the third stage of the EMU worked out. The EU's future development "in five gears" was devised, & the countries were categorized into groups according to the level in which they satisfy the conditions necessary for acceptance. Further, the EU offers to those transitional countries that satisfy the necessary conditions for further cooperation the "partnership prior to membership" a new way of cooperation that provides financial support to transitional countries to pave the way for them to join the EU. Croatia has shown interest for all kinds of links with the EU, particularly via the associate membership as a step to full membership. There is no doubt that the introduction of the new pan-European currency as well as all the changes occurring within the EU are going to affect the Croatian economy. Croatia has stepped up its preparations for getting in line with the new economic & financial developments emerging in Europe, which will be triggered by the establishment of the European Monetary Union (EMU). 13 References. Adapted from the source document.

Three events characterize the development of the European Community in 1992 & 1993: the completion of a unified European market, the signing of the European Union Contract, & the establishment of a European economic space with EFTA countries. One of the main hindrances is the fact that the decisions taken are being implemented in different ways from one member state to another, which creates difficulties in the accomplishment of the European Community's aims. These can be classified into three basic groups: the development of an economic & monetary union, the strengthening of institutions & the democratization of the European Community, & the defining of a common foreign security policy. Adapted from the source document.

The author is critical of the introduction of the euro from the point of view of national & political economy. His criticism is based on four assumptions. The first is that the introduction of the euro gives rise to certain legal concerns. Some countries had not met the criteria for the introduction of the euro, yet it was introduced, which means that the European parliament & the national governments & their parliaments no longer respect the due process of law. The second is that the foreign debt, which amounts to 120% of GNP, is impossible to repay in those democracies that are not in the position to impose austerity measures that would include several legislatures. The third criticism is based on the fact that European countries are at different levels of development, which makes the monetary union much too vulnerable. The fourth criticism refers to the fact that common currency means common policy, &, consequently, the end of nation-states in Europe. Croatia may join the EU, but this would pose a challenge to its national sovereignty. 2 Tables. Adapted from the source document.

Understanding Central Europe as a particular European region is based on historical & cultural heritage of the Mitteleuropa & on the revival of the Central European identity in the 1980s. Central European regional cooperation has been promoted in the late 1980s & early 1990s, particularly through the following cooperation schemes: Pentagonale/Central European Initiative (now dissolved), the Vishegrad Group, & the Central European Free Trade Agreement (CEFTA). These schemes have been supported by the European Union & they fit its strategy of widening that is now based on the differentiated integration, which implies strengthening of economic & monetary union & defense union. The European Union tends to link the Central European region to the Baltic countries, rather than connect it with Southeastern Europe, which is regarded as a special case, covered by the peace restoration strategy. Central Europe is a region of uneven development & very diversified cultures & peoples. It is therefore difficult to treat it as a structured European region. EU focuses on a number of states that form "the intersection of different areas of integration," & in this respect Central Europe may be best understood as a development & transformation project that might create a new type of differentiated relationships among states & cultures within Central Europe & between Central Europe & the European Union. Focusing on Central Europe may turn the region into the central project of European development. Adapted from the source document.