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What are the differences between the countries on the follo - PowerPoint Presentation

What are the differences between the countries on the follo - PPT Presentation

Compare the distances North to South and East to West are they similar Imagine Imagine traveling from Chicago to New York City and having the language currency prices of goods and basic laws change every time you went through a different state What problems might result ID: 620099

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Slide1

What are the differences between the countries on the following map?Slide2
Slide3

Compare the distances North to South and East to West: are they similar ?Slide4

Imagine

Imagine traveling from Chicago to New York City and having the language, currency, prices of goods, and basic laws change every time you went through a different state. What problems might result?Slide5

Exchange rates

Any time you exchange foreign money there is a commission charge assigned by banks or currency exchanges.

Example: \$100 US dollars to Canadian. Exchange rate is 1.07 Canadian for every US dollar, or .93 US dollars for every Canadian. Commission charge is \$4.00 Canadian. How many Canadian dollars would you get, subtracting the commission charge?

1.07 * 100 = 107 – 4 = \$103

How much in US \$ was the commission charge?

.93 * 4 = \$3.72 US

Do others – you can get exchange rates on InternetSlide6

American Dollar

1 USD

in USD

Argentine Peso

4.13769

0.241681

Australian Dollar   0.999799  1.0002   Brazilian Real   1.6698  0.598874   British Pound   0.645322  1.54961   Canadian Dollar   0.9947  1.00533   Chilean Peso   495.122  0.0020197   Chinese Yuan   6.58742  0.151805   Colombian Peso   1887.48  0.000529807   Croatian Kuna   5.60394  0.178446   Danish Krone   5.65813  0.176737   Euro   0.759255  1.31708   Hong Kong Dollar   7.77067  0.128689   Hungarian Forint   209.411  0.0047753   Iceland Krona   116.503  0.00858347   Indian Rupee   45.3786  0.0220368   Israeli New Shekel   3.5487  0.281793   Japanese Yen   83.2385  0.0120137   Libyan Dinar   1.9324  0.517491   Malaysian Ringgit   3.06817  0.325927   Mexican Peso   12.1974  0.0819847   New Zealand Dollar   1.3121  0.762137   Norwegian Kroner   5.90326  0.169398   Omani Rial   0.3845  2.60078   Pakistan Rupee   85.824  0.0116518   Qatari Rial   3.64  0.274725   Romanian Leu   3.24323  0.308335   Russian Ruble   30.6533  0.0326229   Saudi Riyal   3.75  0.266667   Singapore Dollar   1.29148  0.774305   South African Rand   6.72095  0.148788   South Korean Won   1127.78  0.000886698   Sri Lanka Rupee   110.83  0.00902283   Swedish Krona   6.76667  0.147783   Swiss Franc   0.964511  1.03679   Taiwan Dollar   29.1701  0.0342817   Thai Baht   30.2157  0.0330954   Trinidad/Tobago Dollar   6.38037  0.156731   Venezuelan Bolivar   4.29491  0.232834Slide7

The European union

So…. After centuries of competition and frequent wars, nations of Europe came together in a spirit of unity and cooperation and formed the European Union (EU). Slide8

1951: European Coal and Steel Community

After WWII some countries in Europe wanted to move away from

nationalism

and come together insteadRobert Shuman proposed

France, West Germany, Belgium, Luxembourg, the Netherlands, and Italy agreed to pool coal and steel resources and abolish tariffs on all materials.

Regulating coal and steel industry spurred economic growth for those countriesSlide9

1957

:

European Community or the Common Market

France, West Germany, Belgium, Luxembourg, the Netherlands, and Italy

Established free trade and stimulated economic growth among member nations

Allowed labor and capital to move freely across borders

Britain, Demark, and Ireland joined in 1973Slide10

European Union

1980’s and 1990’s: the group expanded and took on the name EU.

After the collapse of Communism, Eastern European countries began to join

1999: A new currency was introduced: Euro

2002: Twelve European Union Member States used the euro cash.

2007: Euro introduced in

Slovenia

- the first new EU member to introduce the euro.

2008: Euro introduced in two other states -

Cyprus and Malta.Slide11

European Union

4 giants: Germany, Italy, France, United Kingdom

5 neighbors of Germany: Belgium, Netherlands, Luxembourg, Denmark, Austria

6 outer countries: Ireland, Sweden, Finland, Greece, Spain, Portugal

10 Added Countries: Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, Slovenia

2 Newest Countries: Romania and Bulgaria

Total?

EU: 2007Slide12

Branch

Members

How chosen

Term

Powers

Commission

(Executive)

20 commissioners

(2 from each of 5 larger member nations; 1 from each of 10 smallermember nations)By unanimousagreement ofEuropean Parliament5 yearsCarries out treaties that created the EU.Has sole power to proposeand carry out legislation.Council ofMinisters(Legislature)Each member nation has one minister (votes weighted roughly in proportion to each nation’s size)By governments of individualmember nationsDetermined by governments of individual member nationsAccepts or rejects legislation proposed by Commission.European Parliament(Advisory)626 members(percentage per member nation based roughly on its populationBy voters in individual member nations5 yearsDebates proposed legislation; advises both Commission and Council. Can expel entire Commission with a 2/3rds vote. Can reject a draft budget.Court of Justice (Judicial)15 judges and9 advocates generalBy unanimousagreement ofmember nations6 yearsDecides whether actions of other branches and private groups with EU rules. Decisions are final and binding.Slide13

Looking at the problems we mentioned earlier in Europe, what were benefits of the EU?Slide14

Benefits

Save on exchange costs (billions annually)

Worth of products (price of goods between countries without the exchange rate)

Creates new jobs

Creates more stability – more countries involved, so less fluctuation

Reduces economic differences among richer and poorer members

Easier to cross borders – no showing passports

Strengthens trade (no tariffs, export taxes, checking products at borders)

Common commercial policy

Speak with one voice Same currency – EUROSlide15

Requirements:

Stability of institutions to guarantee democracy, the rule of law, human rights and respect for and protection of minorities.

The existence of a functioning market economy as well as the capacity to cope with competitive pressure and market forces within the Union.

The ability to take on the obligations of membership including adherence to the aims of political, economic, and monetary union.Slide16

1999: A new currency was introduced: Euro

4 originally opted out of Euro – (United Kingdom, Sweden, Denmark, Greece) Why?

The rest began replacing money in 2002:

1. Sacrificed the element of sovereignty and gave power to Central Bank

2. Surrendered the right to devaluate (compete against other countries when in a recession) out of trouble

3. Surrendered the right to run budget deficits to counter mass unemployment

4. Only way out of monetary unit is to QUIT

5. To qualify, a country must have stable economy and little currency fluctuation.Slide17

Why did a few EU countries resist adopting the EURO?

1. Hurt their economy – increase unemployment through layoffs

2. Cared about their currency – sense of pride

3. Expensive to change all currency to EUROSlide18

European Union: definition

The European Union: an organization that promotes cooperation among its members in the areas of: economics and trade, social issues, foreign policy, security and defense, judicial matters, monetary policy, and

establishes a single market in which economics of all EU member states are unified Slide19

Compare and contrast US and EU

EU produces and trades more goods than the US

Trade barriers across national boundaries are disappearing – like US interstate barriers

Common currency plan – EURO

Today, the European union is dealing with the collapse of a handful of countries, and now finds itself trying to stabilize their system.