Abstract:
The caselet focuses on the impact of globalization on the U.S economy. It highlights the growth of India and China and the threat they pose to the US economy. The caselet also gives an overview of the demand for Indian professionals across the globe.
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Issues:
» The impact of Euro on Europe.
» The impact of Euro on international trade.
» Strengths and weaknesses of Euro compared to the US Dollar
Introduction
European Monetary Union (EMU), also known as the Eurozone and Euroland, came into effect on January 1, 1999, among eleven countries (Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain) of the European Union with a new currency, the euro and a new European Central Bank.
Greece, the 12th member, joined the club in January 2001. After June 30, 2002, the euro will be the sole currency in the region. A single currency in Europe will have significant economic impact. Consumers can for the first time compare the prices of goods and services across the member countries.
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Questions for Discussion:
1.Briefly outline the benefits of the euro for Europe from the perspectives of trade and economic development.
2. Do you think the euro can replace the dollar as a reserve currency? Explain with reasons.
Key words:
European Monetary Union (EMU), Eurozone, Euroland, European Central Bank
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