Presentation is loading. Please wait.

Presentation is loading. Please wait.

THE EUROPEAN UNION How do individuals, businesses and economies benefit from using the Euro?

Similar presentations


Presentation on theme: "THE EUROPEAN UNION How do individuals, businesses and economies benefit from using the Euro?"— Presentation transcript:

1 THE EUROPEAN UNION How do individuals, businesses and economies benefit from using the Euro?

2 Where in the world is the EU?

3 28 508 7 30 56 million Member States Combined population of
EU Member States 7 Percent of world’s population 30 Percent of global GDP Percent of combined worldwide Official Development Assistance 56

4 EU Population in the World
1343 508 314 127 143 EU China Japan Russia United States 5 Population in millions, 2012

5 Area of the EU compared to the rest of the world
16 889 9327 9159 4290 365 EU China Japan Russia United States 6 Surface area, km²

6 Founding Members 1952: Belgium France Germany Italy Luxembourg
Netherlands

7 1973 Denmark Ireland United Kingdom

8 1981 Greece

9 1986 Portugal Spain

10 Poland’s Solidarity Party gains legal status
1989 Fall of the Berlin Wall sets the stage for unifying Europe and EU enlargement Poland’s Solidarity Party gains legal status

11 1995 Austria Finland Sweden

12 2004 Cyprus Czech Republic Estonia Hungary Latvia Lithuania Malta
Poland Slovakia Slovenia

13 2007 Bulgaria Romania

14 Free movement of goods No customs duties between the member states
The EU also prohibits charges having an equivalent effect of customs duties.

15 Free movement of services
The freedom prohibits restrictions on free circulation of services within Member States. Examples: Postal service Internet purchases Banking

16 Free movement of people
The right to travel. The right to work in any member state. The right to settle in any member state.

17 Free movement of capital
Capital within the EU may be transferred in any amount from one country to another.

18 The Euro In 1999, the euro area was established as a currency in eleven of the then fifteen EU Member States. Of the 28 EU Member States today, seventeen have adopted the euro. Estonia most recently joined in 2011, and Latvia is expected to adopt the euro in 2014. In response to the economic and financial crisis, the EU created a new set of rules on enhanced EU economic governance which entered into force in December 2011.

19 Before the Euro: a multitude of currencies
Cumbersome inter-state trading Comparing prices more difficult Currency exchange can be unpredictable in contracts/ loans 19

20 The Euro: a single currency for Europeans
The 12 countries that introduced the Euro in 2001: Austria Belgium Finland France Germany Greece Italy Ireland Luxembourg Netherlands Portugal Spain 20

21 The Euro: a single currency for Europeans
Can be used everywhere in the 17-country euro area Coins: one side with national symbols, one side common Notes: no national side New Euro countries since 2001: EU countries using the euro in 2013 EU countries not using the euro Cyprus (2006) Malta (2006) Slovakia (2008) Slovenia (2009) Estonia (2011)

22 Some of the Euro’s benefits
International trade is facilitated Currency exchange costs are eliminated European Central Bank keeps price inflation low so interest rates also remain low Travelling is made easier Comparing prices is made simpler 22

23 Celebrating the European Union - A Half Century of Change and Progress
Since the creation of the EU over half a century ago, Europe has enjoyed the longest period of peace in its history. EU enlargement has helped overcome the division of Europe – contributing to peace, prosperity, and stability across the continent. A single market and a common currency benefit companies and consumers. EU has united the citizens of Europe – while preserving Europe’s diversity. European Union United in diversity


Download ppt "THE EUROPEAN UNION How do individuals, businesses and economies benefit from using the Euro?"

Similar presentations


Ads by Google