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Europe

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by

Sarai Ramirez

on 12 November 2014

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Transcript of Europe

Europe
¿What do you think would be the best solution to the European Crisis?
Interview to Pille Kustala
(LIN Principal)
European Union
Conflict Timeline
International Actors
Misael Dablantes A01225984
Cesar Magos A01227220
Mónica Cárdenas A01226266
Sarai Ramírez A01225949
Group 56

Countries and Capitals
Characteristics
1- Germany
2- Greece
3- European Union
4- Economic Monetary Union

5- European central bank

It is called the "Old World"
The roots of Europe come from Greece and Rome
The most used currency is the Euro
The European Union
The EU includes 24 official languages
The EU includes 28 official members
Geographically includes 50 countries
World's second smallest continent
742.1 million people
Main religion is Christianity
Ideas: Globalization, democracy, industrial revolution, colonialism and communism
Austria. Vienna
Belgium. Brussels
Bulgaria. Sofia
Croatia. Zagreb
Cyprus. Nicosia
Czech Republic. Prague
Denmark. Copenhagen
Estonia. Tallinn
Finland. Helsinki
France. Paris
Germany. Berlin
Greece. Athens
Hungary. Budapest
Ireland. Dublin
Italy. Rome
Latvia. Riga
Lithuania. Vilnius
Human Development Index
Luxembourg. Luxembourg
Malta. Valleta
Netherlands. Amsterdam
Poland. Warsaw
Portugal. Lisbon
Romania. Bucharest
Slovakia. Bratislava
Slovenia.Ljubljana
Spain. Madrid
Sweden. Stockholm
United Kingdom. London
Albania. Tirana
Andorra. Andorra la Vella
Belarus. Minsk
Bosnia and Herzegovina. Sarajevo
Iceland. Reykjavik
Liechtenstein. Vaduz
Macedonia. Skopje
Moldova. Chisinau
Monaco. Monaco
Montenegro. Podgorica
Norway. Oslo
San Marino. San Marino
Serbia. Belgrade
Switzerland. Bern
Ukraine. Kiev
Vatican City
Armenia. Yerevan
Azerbaijan. Baku
Georgia. Tbilisi
Kazakhstan. Astana
Russia. Moscow
Turkey. Ankara
US optimistic banks were bankrupt.
A major US investment bank
Lehman Brothers
collapsed.
Banks stop lending to each other the credit dried up.
The confidence in markets was lost, investors liquidated their positions and stock markets went down.
The European government gave 37% of the EU’s GPD to help.
Trouble financing their debts: GREECE
There's a hole in the Greek National Budget
Economic relationships with each other will fall and create a block.
European economic crisis

French language
80% Catholicism
Nation pride
Bread in any meal
Bastille Day July 14th
Center of cuisine, art and architecture
Writers and thinkers
Founding member of the EU
Alpine Peak of Mont Blanc (highest mountain in Europe)
Advanced industrial economy, efficient farm sector

German language
Perfectionism and precision
62% Christian
Beer most popular beverage
Classical music
German Unification Day October 3rd
Founding member of the EU
Federal Republic
Divided after WWII, Berlin Wall

Modern Greek language
98% Christian Orthodox
Mezedes typical food
"Apokries" 3 weeks of festival
Believers of superstitions
Includes more than 2000 islands
Republic structure
Economic sectors: agriculture, tourism, construction, shipping
Italian language
Roman Catholicism dominant religion
Opera has its roots here
San Gennaro September 14th festival
Wine, cheese and pasta most important meals
Founding member of EU
Two-chamber parliament
Economic sectors: tourism, fashion, engineering, chemicals, motor vehicles, food

Conformed by England, Wales and Scotland
English official language
Currency: Pound
Has a Constitutional Monarchy and Parliamentary Democracy
Finance, manufacture and trade are the basis of their economy
Home of industrial revolution
Scientists and engineers
1999
2002
2008
2009
2010
2011
2012
2013
2014
Euro comes into existence
Notes & coins are introduced
Ireland, first Eurozone country to enter recession
In order to boost European growth in the global crisis, there is a 200 billion Euro stimulus plan.
The European Union tells Spain, France, Irish Republic and Greece that they must reduce their budget deficit
Greece's debt reaches 300 billion euros, which is 113% of GDP (almost the double of Eurozone limit of 60%)
The EU and the IMF give an emergency loan to Greece of $137.7 billion
EU and IMF give a bailout package of $85 billion euros to Irish Republic
In February the European Stability Mechanism is set up.
It is a permanent bailout fund worth 500 billion euros.
Bailout for Portugal of 78 billion Euros
Greece receives a second bailout of 109 billion euros.
March 3, 25 European leaders agree to force the nations to keep the budget deficits in check.
Bailout for Spain given by a bank of $125 billion euros
Cyprus gets a bailout from international credits of $13 billion euros
Cyprus and Greece still need help to get out of the crisis
"United in diversity"
Budget
Source: from a percentage of each member's gross national income, imported products, fines...
The budget is used for different purposes, including growth and job creation, environment sustainability and investment to develop the economy and rural areas.
The MMF (Multiannual Financial Framework) sets the spending priorities and the Commission, with the Council and the Parliament decide which would be the budget.

The Economic and Monetary Union coordinates the economic and fiscal policies with the euro.

The independent European Central Bank is in charge of maintaining price stability and sets the interest rates.

Each country decides its budget, but there are common rules on public finances.
Who is in charge?
Economic Monetary Union
Objective
Increase the economic well-being of the businesses and the people in the European Union. The member countries form what is known as a single market, this means that they have an integrated economy and all of them coordinate the economic policy.
BBC News
References
Timeline: the unfolding eurozone crisis (2012). BBC News. Retrieved from http://www.bbc.com/news/business-13856580

European Commission. Retrieved from http://ec.europa.eu

European Union. Retrieved from http://europa.eu

The European Financial Crisis. (n.d.). YouTube. Retrieved October 22, 2014, from

EU response to the crisis. (n.d.). - European Commission. Retrieved October 21, 2014, from http://ec.europa.eu/economy_finance/crisis/in

PDF. (n.d.). Economic Crisis in Europe. Retrieved October 22, 2014, from http://ec.europa.eu/economy_finance/publications

European Debt Crisis. (n.d.). European Debt Crisis. Retrieved October 22, 2014, from http://topics.nytimes.com/top/reference/timestop
Main solutions done
1 hundred 10 billion
Parachute 7 times
bigger

ESM
80 billion + 420 more
ECB
Saving's Package
France
Germany
Greece
Italy
United Kingdom
• International Traditional Actor (Nation-Sate)
• Centripetal Force
• Germany’s strict economic management has made this country very powerful with a stable economy. Germany, trying to stop the sinking of the EU is trying to impose order in the European Union.
• Example: German proposal to the EU to send a commissioner to supplant the Greek government, controlling Greece’s taxes,
debts and economic spending levels.

• International Traditional Actor (Nation-Sate)
• Centrifugal Force
• Greece is a centrifugal force in the European economic
crisis because it has using more money that what it has and this is leading to a bankrupt in all EU countries due to the fact that it borrowing tons of money from the European Central Bank most of it coming from Germany


• Non-Traditional (Intergovernmental Organization
• Centripetal Force
• Its main goal was to unify Western Europe, promoting social, political and economic union
and also eliminating economic, trade and immigration barriers by eliminating border restrictions. (making the principal currency the Euro).

(Human Development Index, 2014)
European Union
(European Union)
(Buzzle, 2014)
(European Union)
(European Union)
(livescience, 2014)
(livescience, 2014)
• Non-traditional Actor intergovernmental organization
• Centripetal Force
• Is in charge of managing the Euro, which is the single
most important currency in the EU, keeping prices stable and preventing inflation. It also supervises financial and institutions.

(livescience, Italy)
(everyculture, 2014)
• Non -traditional Actor intergovernmental organization
• Centripetal Force
• Increases the economic well being of the businesses and
the people of the European Union.

I think that the conflict in Russia has a direct effect in the European Crisis. Many countries in Europe have economic relations with Russia and this is making the conflict chronic.
It's difficult to give a solution to the conflict, but in order to stop it, the union between countries is necessary and also to look for markets outside Europe because the conflict in Russia will continue for more decades.
(greeka, 2014)
The Europe debt crisis visualized
European Commission
Economic Crisis in Europe
Full transcript