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Can the Euro be used as a standard currency for the rebuilding of an international system?

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  1. Introduction
    1. Strategic analysis of the company Chupa Chups, in general
    2. Segmentation strategy of Chupa Chups
    3. The BCG Matrix
    4. Porter's Model
    5. Analysis of Mc KINSEY
  2. The analysis of Chupa Chups, by Strategic Business Area
    1. SWOT analysis of the SBU "Traditional"
    2. SWOT analysis of the SBU "Diet"
    3. SWOT analysis of the SBU "Fanciful"
  3. Conclusion of part 1
  4. The marketing plan
    1. Analysis and diagnosis of Chupa Chups and its environment
    2. Analysis of companies on the market Chupa Chups
    3. Analysis of variables Mix
    4. Strategies and objectives
    5. Means
  5. Action Plan
    1. .The action program
    2. Our latest recommendations and budget to devote
  6. Conclusion

Since 2007, the Euro has been the single currency of thirteen countries which are members of the European Union. This motto, whose issue is managed by the European Central Bank, is the second most widely used currency for transactions in the world behind the US greenback, and it ranks first in the world for the amount of banknotes in circulation.

The Euro has also been designed as an 'alternative' credible currency against the US dollar in trade and financial transactions. To what extent can it be used as a standard currency in the reconstruction of an international system?

In May 1998, eleven member countries wishing to participate in the single currency were selected on the criteria of convergence. The Kingdom - Kingdom, for "Euroscepticism" in particular, refuses it. Denmark also, until recent months, when a referendum debate and agree on the decision to adopt the Euro.

Sweden, was, unable to meet the minimum period of two years after its entry into the EMS, finds himself rejected. Finally, Greece did not meet full criteria for convergence, until January 2001. For the ten new members, Slovenia is the last country to adopt the Euro in early 2007. On 1 January 2008, Cyprus and Malta will follow suit. Slovakia should join them in January 2009.

The adoption of the euro makes it possible to do away with the operations and exchange commissions, provides a stable economic environment for trade between the operators of member countries and encourages comparison of prices for the consumer. It also urges states to coordinate their economic policies in a stability pact and growth should eventually become a reserve currency and payment of the foreign exchange market.

The monetary reform has had very real consequences in the life of Europeans: some consumers changed their purchasing behavior. Some thought they spent less, others more than usual. This suggests that if the Euro presaged price stability, the conversion price of their currency in euros rather had held against them.

However, inflation in the euro area has not increased since 2002, when the final introduction. In addition, the price index in the euro area has remained below that of European countries that have not introduced the single currency.

Tags: European Union; Euro; international system; standard currency

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