Economic growth in Euro zone countries
- Eisenhower administration
- Eisenhower's mandatory
- Mutually Assured Destruction (M.A.D.)
On March 25, 1957, six countries signed the Rome Treaty establishing the European Coal and Steel Community, the ECSC. These countries were France, Germany, Italy, Belgium, the Netherlands and Luxembourg. In 1957, the European Economic Community was created by the Treaty of Rome. With the advent of the EEC was built what would be one of the largest economic markets in the world.
One of the goals of this market is to establish closer cooperation between people, ensure the economic and social progress, constantly improve the living conditions and employment, stabilize growth, balance in trade and fair competition, reduce the economic gap between regions, and the backwardness of the least advantaged. The Euro zone was created in 2002. We will respond to questions that may arise on how it was created, what were the causes of its birth and what its goals are, how to advance the growth of member countries, what were the obstacles or what are the expectations and new goals on the agenda.
The idea of creating a single currency area in Europe was not new in 1957; the Treaty of Rome had already defined the creation of a European common market. In 1986, the Single European Act, followed by the Treaty on European Union in 1992, was signed. These treaties had the goal of achieving economic and monetary union of European countries.
The adoption of the euro took place in several stages:
In early 1990s, the first step taken was the liberalization of capital flows to create a single market. A goal to provide wider opportunities for products of member states was acquired to increase competition. To do this, many measures have been taken:
- Elimination or simplification of customs formalities for the passage of people and goods
- Harmonization of rules governing the status of foreigners, asylum, the issuance of visas and extradition,
- Elimination of tax barriers and harmonization of excise duties and VAT rates,
- Equivalence of diplomas and creation of a single right of establishment for professional people
- Elimination or equivalence of technical standards such as standards of standardization, quality labels, marks and certification procedures,
- Harmonization of procedures for notice and advertisement of public procurement, liberalization of services.
The second stage, which began in 1994, was the achievement of economic convergence, fiscal policy and the member states. For this, the European Commission's goal for 2000 was to improve the effectiveness of regional policy by concentrating aid on priorities. The aid was provided by the four Structural Funds: Section orientation of the European Agricultural Guidance and Guarantee Fund (EAGGF), European Social Fund (ESF), European Development Fund (ERDF), the Financial Instrument fisheries Guidance (FIFG).
The aid was to reach three main objectives:
The first was to help regions whose gross domestic product (GDP) was less than 75% of the EU average. Other areas in need should be helped: the regions in crisis, with high unemployment. The second objective was to stop these attacks in order to stabilize these regions of member states. The last objective was to prepare all states of the European Union to prepare for the arrival of the euro.
Tags: Rome Treaty, European Coal and Steel Community, European Economic Community, Single European Act, liberalization, public procurement, liberalization of services, European Commission's