Is the European Monetary Union a disaster? ? Discuss Essay examples --

AbstractThis essay evaluates the development of the emu a system that only came into effect three geezerhood ago. Through the lack of recent literature most of the evidence are derived from articles of various sources.The essay takes into consideration that the EMU is embedded in a broadly declining world economy. It illustrates why the EMU did not reach their targeted goals immediately and points out shortcomings in the architecture of the EMU in the Maastricht Treaty that ought to be reformed. It takes the viewpoint that although since the ledger entry of the Euro there is an apparent recession in the Euro area countries, it is not entirely to be blamed on new bills and that the allegation that the EMU is a disaster is totally unfounded.For over thirty years now a European Monetary Union has belonged to the articulated aims of the European Union. All previous contract to establish a Monetary Union, such as the so-called Werner- Plans in 1979 through the European Monetary Sys tem (EMS), failed though. In 2002 the EMU finally was ascribe into full effect. Now that the Euro- countries have experienced three years with the Euro, it is possible to make a preliminary surveyment of the Euro. In order to detect whether EMU is a disaster one has first to establish the meaning and context in which the experimental condition disaster is used in relation to this question. The Oxford Dictionary defines the term disaster as a complete failure . In accordance to this definition one would expect the European Monetary Union to have an divulge negative impact on the Euro countries, this could include a weak currency and business activity, a high inflation rate, a refusal of acceptance of the new currency from the citizens and a counter effect on the aim towards deeper European integration. In order to fulfil the aims of this essay, it will try to analyse the impact of the introduction of the Euro with the quest criteria first, it will outline the intentions for the introduction of the Euro and the advantages economist and member states had hoped to gain from it. Next, the essay will look at the reaction the Euro has caused in the economic and business cycles of the euro-area states and assess the capability of the European primaeval Bank (ECB) to deal with economic fluctuation. The next step will be to analyse the reaction of the public to th... ...bspEuropean Central BankEMUEuropean Monetary UnionGDPGross Domestic ProductHCIPHarmonised Index of Consumer PricesSGPStability and Growth PactBibliographyPearsall, J. (ed.) (1999) The neat Oxford Dictionary ( Tenth Edition) Oxford University Press, Oxford. Hankel, W, Nlling, W, Schachtschneider K, Starbatty, J (2001) Die Euro-Illusion, Ist Europa noch zu retten? Rowohlt Taschenbuch Verlag, Hamburg The Economist Rules are made to bend, arent they?. Jul 25th 2002Stierand, H ( 2002) Geldpolitik im Europischen System der Zentralbanken (ESZB), Winkler Verlag, DarmstadtRenne, B (2001) Die Europische W irtschafts und Whrungsunion zwischen Anspruch und Wirklichkeit ( The European Economic- and Monetary Union between expectations and reality) Peter Lang, FrankfurtStierand, H ( 2002) Geldpolitik im Europischen System der Zentralbanken (ESZB), Winkler Verlag, Darmstadtwww.bis.org/review/ r021122b.pdf