The European Economic Community And The Euro Dollar Essays

The European Economic Community And The Euro Dollar EEC and the Euro Dollar The European Economic Community (EEC), also known as the common market, was established in 1957 through the treaty of Rome signed between Belgium, France, Italy, Luxembourg, the Netherlands, and Germany in order to achieve economic cooperation. It has since worked for the free movement of labor and capital, the abolition of trusts and cartels, and the development of joint and reciprocal policies on labor, social welfare, agriculture, transport, and foreign trade. Over the years, monetary union has been suggested by the members of the EEC and was finally attained on January 1,1999 when eleven European countries, which are now collectively referred to as Euroland, introduced a single currency, the euro. Since then, the euro has invaded nearly every sector of the world economy. The monetary revolution embodied in the euro involves far more then the elimination of 11 currencies and the distributions of colorful new banknotes and coins across Europe. It entails the solidification of the E uropean Unions common market for goods and services, major structural changes in countries plagued by fiscal imprudence, and the reorganization of monetary policy in some of the worlds most advanced industrialized economies The risks of implementing the euro consist of supply shocks and political discord. Although the ongoing risks of maintaining Economic monetary union may hinder the stability of the euro in the long run, the integration of the euro to the EEC as of January 1999, has so far proven to have a positive affect on the European economy and has allowed it to achieve its primary political and economic goals through its four core benefits: the reduction of transaction costs, the elimination of exchange rate risks, increased price transparency, and the creation of deep financial markets. The Euro is the newly created currency of the European Economic Community, a currency that became legal tender on January 1, 1999. By 2002, euro notes and coins will replace the Austrian schilling, Belgian franc, Finnish markka, French franc, German mark, Irish punt, Italian lira, Luxembourg franc, Dutch guilder, Portuguese escudo, and Spanish peseta. These 11 nations will share a common currency, a single monetary policy, and a single foreign exchange rate policy. Currencies not only serve as a standardized value of measurement, so that we have a consistent way of expressing value, but they also function as an efficient means of payment. Also they serve as a store of value, allowing us to transport wealth easily over a distance and to store it for indefinite periods of time. There are two main reasons for this monetary union within the EEC (European Economic Community), one being a political reason and the other an economic reason. The political arguments are that a single currency will further unite the European alliance, which was formed after WWII, by forcing Europe to act as a whole rather than as single states. This could perhaps eliminate nationalism and bring unity to this continent, which has been plagued by war twice in the last century. The Economic reasons for the euro project can be found in the relatively poor performance of the European economies over the last twenty years or more. Europe has, for a long time, suffered form relatively weak economic growth. Economic growth that trailed behind that in North America and Asia: productivity gains were weak; unemployment remained persistently high; and many European countries suffered form persistently high wage and price inflation. This was generally thought to be caused by relatively rigid and inflexible labor markets; a high level of government involvement in the economy; a less enterprising culture compared, in particular, to that in North America; and a poorer track record of innovation and research and development. The euro has given Europe one of the largest and most powerful trading blocs in the world. Although the euro doesnt alter the fact that Euroland is composed of diverse and highly independent countries, it strengthens the economic and political ties of the region and its part in the world economy. Because of the success of the euro will ultimately be determined by the collaboration of EEC governments through the formulation of exchange rate policy to the harmonization of legal systems and security

The Discovery of Otzi the Iceman and Its Significance

The Discovery of Otzi the Iceman and Its Significance On September 19, 1991, two German tourists were hiking in the Otzal Alps near the Italian-Austrian border when they discovered Europes oldest known mummy sticking out of the ice. Otzi, as the iceman is now known, had been naturally mummified by the ice and kept in amazing condition for approximately 5,300 years. Research on Otzis preserved body and the various artifacts found with it continues to reveal much about the life of Copper Age Europeans. The Discovery Around 1:30 p.m. on September 19, 1991, Erika and Helmut Simon from Nuremberg, Germany were descending from the Finail peak in the Tisenjoch area of the Otzal Alps when they decided to take a shortcut off the beaten path. When they did so, they noticed something brown sticking out of the ice. Upon further inspection, the Simons discovered that it was a human corpse. Although they could see the back of the head, arms, and back, the bottom of the torso was still embedded in the ice. The Simons took a picture and then reported their discovery at the Similaun Refuge. At the time, however, the Simons and the authorities all thought the body belonged to a modern man who had recently suffered a deadly accident. Removing Otzis Body Removing a frozen body thats stuck in the ice at 10,530 feet (3,210 meters) above sea level is never easy. Adding bad weather and a lack of proper excavation equipment made the job even more difficult. After four days of trying, Otzis body was finally removed from the ice on September 23, 1991. Sealed up in a body bag, Otzi was flown via helicopter to the town of Vent, where his body was transferred to a wooden coffin and taken to the Institute of Forensic Medicine in Innsbruck. At Innsbruck, archaeologist Konrad Spindler determined that the body found in the ice was definitely not a modern man; instead, he was at least 4,000 years old. It was then that they realized that Otzi the Iceman was one of the most amazing archaeological finds of the century. Once it was realized that Otzi was an extremely important discovery, two teams of archaeologists went back to the discovery site to see if they could find more artifacts. The first team stayed only three days, October 3-5, 1991, because the winter weather was too harsh to work in. The second archaeology team waited until the following summer, surveying from July 20 to August 25 1992. This team found numerous artifacts, including string, muscle fibers, a piece of a longbow, and a bearskin hat. Who Was Otzi the Iceman? Otzi was a man who lived sometime between 3350 and 3100 BCE in what is called the Chalcolithic or Copper Age. He stood approximately five feet and three inches high and at the end of his life suffered from arthritis, gallstones, and whipworm. He died at about the age of 46. At first, it was believed that Otzi had died from exposure, but in 2001 an X-ray revealed that there was a stone arrowhead embedded in his left shoulder. A CT scan in 2005 discovered that the arrowhead had severed one of the Otzis arteries, most likely causing his death. A large wound on Otzis hand was another indicator that Otzi had been in close combat with someone shortly before his death. Scientists have recently discovered that Otzis last meal consisted of a few slices of fatty, cured goat meat, similar to modern-day bacon. But many questions remain regarding Otzi the Iceman. Why did Otzi have over 50 tattoos on his body? Were the tattoos part of an ancient form of acupuncture? Who killed him? Why was the blood of four people found on his clothes and weapons? Perhaps more research will help answer these and other questions about Otzi the Iceman.   Otzi on Display After seven years of study at Innsbruck University, Otzi the Iceman was transported to South Tyrol, Italy, where he was to be both further studied and put on display. At the South Tyrol Museum of Archaeology, Otzi was encased within a specially made chamber, which is kept dark and refrigerated to help preserve Otzis body. Visitors to the museum can glimpse Otzi through a small window. To remember the place where Otzi had remained for 5,300 years, a stone marker was placed at the discovery site.

How does online shoppers' behaviour differ from traditional shoppers Essay - 1

How does online shoppers' behaviour differ from traditional shoppers - Essay Example of terms 30 Investigative report Abstract Shopping is a part of everyday’s life. Some fulfils their necessities from shopping while some get something more from shopping. It is viewed as releasing the stress and a way for completing some desire in mind or a way for adding flavour to the mechanical way of life. There are two types of shopping in general, traditional shopping and online shopping. Both of them have merits and demerits respectively. Now-a-days, large number of people goes for shopping by means of internet. This has been possible due to the prevalence of computer. The trend of online shopping came with the booming of internet. Thousands of items are reflected on the screen by clicking in one word. This does not require roaming across a long road through the hustling crowds for getting a pair of items. What is required is to have a click on the keyboard and the goods will be delivered on the spot. The advent of internet has an impact in our everyday lives in all way s like the manner we communicate to the way we shop. The increase in sophisticated technology in the 21st century has made everything virtually possible like purchase of an outfit of Armani who has been wearing pyjamas which was once seemed as an outlandish idea. The starts of retailing on web from sometime in the middle to late 1990s have given rise to the debate of online vs. traditional shopping. This debate is still ongoing. Though shoppers have thronged the shopping centres, as it is done in internet but still the question remains as to whether everything will be conquered by online shopping or the survival of traditional shopping will remain in the increasing trend of e-shopping. Introduction The rising debate of online shopping vs. traditional shopping can be viewed from the angle of considering the pros and cons of traditional and online shopping. The main advantage of online shopping is that it eliminates the need to make a drive to somewhere for purchasing something. So, t here arises no frustration to deal with parking problems and traffic. Besides, in case of traditional shopping, half of the petrol is consumed while going for shopping. With rise in prices of petrol, the cost of shopping also increases. This money is however saved in case of online shopping. The money needed to be paid in case of online shopping is enough to purchase few gifts or items. The precious time is saved by way of online shopping. In the busy lives lead by us these days, anything that can contribute towards saving in time can prove as a boon. While shopping online, it takes only a minute to log on to internet and to access the website of store as per choice (Khosrowpour, 2006, pp.30-31). Further, it can take only ten to fifteen minutes for selecting the items to be purchased, again further five minutes for filling information about payment and to get a print of receipt. All total, it will take only thirty minutes to complete the shopping. This facility of saving in time can provide quality time to be spent with the kids and an extra time to watch movies. Literature review Difference between online and traditional shopping Again, online shopping provides a sense of ease and comfort against traditional shopping which requires running in high streets and hunting for the things required. The difference between traditional and o

The Benefits of Hands-on Training Essay Example | Topics and Well Written Essays - 2250 words

The Benefits of Hands-on Training - Essay Example For the purposes of this paper, an OH&S inspection tour of a meat-processing plant has been established (more details of this tour can be found in Appendix A). The discussion of this tour answers four main questions: I outlined the problem at hand: how to design a training tool that would meet the needs of trainees. I made an outline that represented the challenges and requirements, and focused on the key tenets that I wanted trainees to bring away from their time at the meat-processing plant. These key tenets are contained in Appendix A. My prior experience in taking and conducting inspection tours helped me in compiling a list of requirements for participants to follow, educational activities, pre-trip instruction for my trainees, and a list of procedures for the training day itself. This movement from prior memory to existing project was the result of schema activation. The actual task of conducting the inspection, as outlined in Appendix A, shows how I took the problem and broke it down into such parts as the site and time of the inspection, the particular trainees, my goals and objectives, the specific training activities, and ways to evaluate the quality of the training. As fa As far as personal involvement goes, the development of the training procedure originated in my own personal experiences and memories, and the schema formation showed considerable time and reflection. Additionally, the process of choosing specific training activities and eliminating other potential activities demonstrates a level of critical thinking (Bruning, Schraw, Ronning 1999). Another way to describe this process of critical examination, combined with preparation of a specific task, is metacognition, which connects knowledge and regulation of cognition (Schraw, 1998). Task Analysis: Question Two Before entering the training environment, the participants will receive a set of problems to solve while they are engaged in the exercise. Another of Gick's diagrams (1986) can be used to show the mental processes involved: Here, the dotted line represents the mental process used by the participants to move from problem to solution. Because the process of inspecting a meat-processing plant will be new to most, if not all, of the trainees, there will be no schema based on prior experience (Tovey, 1999). Several

Nordstrom Case Study Essay Example for Free

Nordstrom Case Study Essay Answer 1: In the 1990s, Nordstrom had six co-presidents who were six cousins belonging to the family’s fourth generation. All six cousins took decisions jointly on major issues concerning the business. Thus, it was necessary that all six co-presidents agree on a decision or a plan for it to be acted upon. This was quite a difficult task as all of them often had differing opinions. Due to this many decisions were delayed or met with resistance by one or the other member. These six co-presidents were compared to a multi-headed hydra. Dismantling the hydra would prevent conflicts on future decisions and would also enable decisions to be taken quickly. It will also vest the ownership for the decisions onto one person. It will also enable a family member to be groomed for possibly leading the company one day. The possible disadvantages of dismantling the hydra is that the six co-presidents could have all contributed their knowledge and experience and have arrived at a better more informed decision. If equal power is vested in six people at the top, it enables them to share the workload. Answer 2: Creating departments around products will create independent profit and loss units for each product. The members of each department will have expertise on their products. They will know how to procure those products and effective sales and marketing techniques to sell those products better. This will narrow down their focus and they will concentrate only on the product that they are selling and will gain expertise on how to sell it best. The possible disadvantages of creating departments around products are that the employees will not have a complete picture of the entire business and where they stand. If in future, they are moved to another department, they will have to gain information about that product from scratch. Answer 3: The following changes prompted the move from mechanistic to organic organization. In the 1990s, the company met with stiff competition from its competitors. Its sales began to plateau. Its net income fell 2% and sales edged up only 1.9%. In the stores that had been open for a year, its sales dipped 1.1% after a 2.6% drop the prior year. Nordstroms shares fell from a 1999 high of 44 3/16 to under 20 in February. The customers and outsiders complained that top executives spent more time in seeking consensus of all co-presidents on issues and this was a reason for Nordstrom being slow in presenting new fashions for sales. Answer 4: In designing an organization to manage change, an additional structural change that Mr. Whitacre should consider is to start a competition among the departments. In this quarterly competition, the department that has the best sales and profits should be the winner and its members should be given some incentives. They should be asked to share the best practices with the other departments in order to help them manage change better. Employees should be rotated regularly from one department to another.

Dickinson and Her religion :: essays research papers fc

Dickinson and her Religion Emily Dickinson was one of the greatest woman poets. She left us with numerous works that show us her secluded world. Like other major artists of nineteenth-century American introspection such as Emerson, Thoreau, and Melville, Dickinson makes poetic use of her vacillations between doubt and faith. The style of her first efforts was fairly conventional, but after years of practice she began to give room for experiments. Often written in the meter of hymns, her poems dealt not only with issues of death, faith and immortality, but with nature, domesticity, and the power and limits of language.   Ã‚  Ã‚  Ã‚  Ã‚  Dickinson’s Christian education affected her profoundly, and her desire for a human intuitive faith motivates and enlivens her poetry. Yet what she has faith in tends to be left undefined because she assumes that it is unknowable. There are many unknown subjects in her poetry among them: Death and the afterlife, God, nature, artistic and poetic inspiration, one’s own mind, and other human beings.   Ã‚  Ã‚  Ã‚  Ã‚  Dickinson was educated in a traditionally Protestant, provincial community and in a religious conservative schools and churches in Amherst and South Hadley. This affected Dickinson as a poet of religious concern, stimulating her to opposition as well as reverence. The Calvinist God she was taught to worship was an arbitrary God of absolute power. She struggles prodigiously in her writing against such an image of God, but also invokes it normally.   Ã‚  Ã‚  Ã‚  Ã‚  Emily Dickinson’s imagination is dynamic partly because she thinks of her mental world as always in flux and prefers not to adhere for long to any preconceived religious of philosophical doctrine. At different times she advances opposed positions on such central questions as the goodness of God, the reality of heaven, or the presence of the divine in nature. As a child of her culture, the fixed positions of her local Calvinism are inscribed in her mind and heart, while at the same time she distrusts them and seeks an alternative faith that will be truer to her moral conceptions. Since she takes different positions on religious questions, it has proved hard for commentators to summarize her religious perspective.   Ã‚  Ã‚  Ã‚  Ã‚  At the start of her career she assembles her poems in fascicles and sets, thus giving them a separate existence as poems, while later she experiments increasingly with a style of letter writing in which the border between verse and prose tends to disappear, and she writes poetically wherever she wants to (Martin).

Fiction-writing mode Essay

Rhetorical modes are methods for effectively communicating through language and writing. Complete the following chart to identify the purpose and structure of the various rhetorical modes used in academic writing. Provide at least 2 tips for writing each type of rhetorical device. |Rhetorical Mode |Purpose – Explain when or why |Structure – Explain what organizational |Provide 2 tips for writing in | | |each rhetorical mode is used. |method works best with each rhetorical mode. |each rhetorical mode. | |Narration |The purpose of a narration is to| | Start with asking yourself if | | |tell stories. Narrations can be |Chronological order, which is a method of |you want to write a factual or | | |factual; story based on events |organization that arranges ideas according to|fictional story. Next, make a | | |as they happened in real life, |time, is the best organizational method for |plot summary, which is a | | |or fictional; made up or |narration. |paragraph or outline that | | |imagined | |describes only the main events | | | | |that drive the story forward. | | |The purpose of an illustration |Order of importance, which is a method of |First, decide on a topic that | |Illustration |is to clearly demonstrate and |organization that arranges ideas according to|you are interested in writing | | |support a point through the use |their significance, is the best |about. Secondly, vary the phases| | |of evidence. |organizational method for illustration. |of illustration you use. This | | | | |way, readers will stay engaged | | | | |in your writing and ideas. | |Description |The purpose of a description is |Spatial order, which is a method of |Does your writing follow a flow?| | |to make sure the audience is |organization that arranges ideas according to|Good writing is focused. Is | | |fully immersed in the words on |physical characteristics or appearance, is |writing written for a purpose? | | |the page. The writer describes |the best organizational them. |Good writing is grammatically | | |his or her world through sensory| |correct a