Economic And Monetary Union Of Europe

Part I of Essay
The main reason for creating a European Market was the growing international competitiveness. In the mid of the eighties the European countries recognized that in the long run the national economies alone won't be able to compete against countries like the US, Japan and th ....

Part II of Essay
.... 4% in 1992 to around 9% nowadays. Most likely Mr. Chirac's and Mr. Kohl's only solution concerning the unemployment is a fully integrated economy which for sure would create new jobs in Europe. The German population, however, is scared that a United Europe would create new jobs only in low wage countries like e.g. Portugal. Many think that a European market with no barriers would would even cause “job hollowing out” of Germany. Moreover the German population likes the strength of the D-Mark and is worried that a single European curr ....