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Withdrawal From The Eurozone
Withdrawal from the Eurozone denotes the process whereby a Eurozone member-state, whether voluntarily or forcibly, stops using the euro as its national currency and leaves the Eurozone. , no country has withdrawn from the Eurozone. Background The possibility of a member state leaving the Eurozone was first raised after the onset of the Greek government-debt crisis. The term " Grexit" itself was reportedlyGrexit by Kate Mackenzie and Joseph Cotterill, '''' Alphaville, 7 February 2012 first used by Citigroup economists |
Eurozone
The euro area, commonly called eurozone (EZ), is a currency union of 19 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies. The 19 eurozone members are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The eight non-eurozone members of the EU are Bulgaria, Czech Republic, Croatia, Denmark, Hungary, Poland, Romania, and Sweden. They continue to use their own national currencies, albeit all but Denmark are obliged to join once they meet the euro convergence criteria. Croatia will become the 20th member on 1 January 2023. Among non-EU member states, Andorra, Monaco, San Marino, and Vatican City have formal agreements with the EU to use the euro as their official currency and issue their own coins. In addition, Kosovo and Montenegro h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Croatian Kuna
The kuna is the currency of Croatia, in use since 1994 (sign: kn; code: HRK). It is subdivided into 100 lipa. The kuna is issued by the Croatian National Bank and the coins are minted by the Croatian Mint. The plural form of the word kuna in Croatian can be ''kuna'' or ''kune'' (e.g. ''2 kune'', ''10 kuna'') because of different number declension rules. 2022 will be the final year for the kuna as Croatia will replace it with the euro (€, EUR) on 1 January 2023. All Croatian bank accounts and credit cards will automatically be converted to euros and kuna cash may be exchanged for euros at no charge. The word ''kuna'' means " marten" in Croatian, referring to the historical use of marten pelts as units of value in medieval trading. The word ''lipa'' means " linden (lime) tree", a species that was traditionally planted around marketplaces in Croatia and other lands under Habsburg monarchy rule during the early modern period. History and etymology During Roman times, in the pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Treaty On European Union
The Treaty on European Union (2007) is one of the primary Treaties of the European Union, alongside the Treaty on the Functioning of the European Union (TFEU). The TEU form the basis of EU law, by setting out general principles of the EU's purpose, the governance of its central institutions (such as the Commission, Parliament, and Council), as well as the rules on external, foreign and security policy. History While the current version of the TEU entered into force in 2009, following the Treaty of Lisbon (2007), the older form of the same document was implemented by the Treaty of Maastricht (1992). Provisions After the preamble the consolidated treaty text is divided into six parts. Title I: Common Provisions The first deals with common provisions. Article 1 establishes the European Union, formally replacing the European Community, declares a "process of creating an ever closer union among the peoples of Europe", and lays out the legal value of the treaties. Article 2 stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Council
The European Council (informally EUCO) is a collegiate body that defines the overall political direction and priorities of the European Union. It is composed of the heads of state or government of the EU member states, the President of the European Council, and the President of the European Commission. The High Representative of the Union for Foreign Affairs and Security Policy also takes part in its meetings. Established as an informal summit in 1975, the European Council was formalised as an institution in 2009 upon the commencement of the Treaty of Lisbon. Its current president is Charles Michel, former Prime Minister of Belgium. Scope While the European Council has no legislative power, it is a strategic (and crisis-solving) body that provides the union with general political directions and priorities, and acts as a collective presidency. The European Commission remains the sole initiator of legislation, but the European Council is able to provide an impetus to guid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EurActiv
Euractiv (styled EURACTIV) is a pan-European news website specialised in EU policies, founded in 1999 by the French media publisher Christophe Leclercq. Its headquarters and central editorial staff are located in Brussels,with further offices in Paris and Berlin. Its content is produced by about 50 journalists staffed in Belgium, Bulgaria, the Czech Republic, France, Germany, Greece, Italy, Poland, Romania, Serbia, and Slovakia. EURACTIV's reporting focuses on the pre-legislative stage of EU decision-making, with up to 2,750 articles translated per year. In addition to EURACTIV's editorial team, the company has established partnerships with media outlets such as Der Tagesspiegel, Agencia EFE and Ouest-France. EURACTIV has diversified sources of funding, as the company seeks private and public revenues to run its business. In 2019, about a fifth of EURACTIV's income came from public sources, including the EU. Other sources of revenue are advertising and corporate sponsoring. Key ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Directorate-General For Legal Service
The Legal Service of the European Commission (Le Service juridique – SJ) is the in-house legal counsel to the commission, located in Brussels. It ensures that Commission decisions comply with EU law, preventing or reducing the risk of subsequent litigation. It provides legal advice to the commission and its departments, and represents the Commission in court cases. Overview History of the Legal Service The Legal Service was founded in 1952 as the Legal Service of the High Authority of the European Coal and Steel Community (ECSC). It was the vision of its first director, Michel Gaudet, to have a ‘corps of jurists’ to give legal advice to and act as legal representatives of the predecessors of the commission. 1958–1967. After the establishment of the European Economic Community (EEC) and the European Atomic Energy Community The European Atomic Energy Community (EAEC or Euratom) is an international organisation established by the Euratom Treaty on 25 March 1957 w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Central Bank
The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International use, most important central banks. The Governing Council of the European Central Bank, ECB Governing Council makes the projects for the monetary policy for the European Union with suggestions and recommendations and to the Eurozone with more direct applications of such policies, it also administers the foreign exchange reserves of EU member states in the Eurozone, engages in foreign exchange operations, and defines the intermediate monetary aims and objectives, and also the common interest rates for the EU. The Executive Board of the European Central Bank, ECB Executive Board makes policies and decisions of the Governing Council, and may give direction to the national central banks, especially when doing so for the Eurozone central ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic And Monetary Union Of The European Union
The economic and monetary union (EMU) of the European Union is a group of policies aimed at converging the economies of member states of the European Union at three stages. There are three stages of the EMU, each of which consists of progressively closer economic integration. Only once a state participates in the third stage it is permitted to adopt the euro as its official currency. As such, the third stage is largely synonymous with the eurozone. The euro convergence criteria are the set of requirements that needs to be fulfilled in order for a country to be approved to participate in the third stage. An important element of this is participation for a minimum of two years in the European Exchange Rate Mechanism ("ERM II"), in which candidate currencies demonstrate economic convergence by maintaining limited deviation from their target rate against the euro. The EMU policies cover all European Union member states. All new EU member states must commit to participat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Locke Lord
Locke Lord LLP is an international law firm formed on October 2, 2007, after the combination of Texas-based Locke Liddell & Sapp PLLC and Lord Bissell & Brook LLP. Locke Lord's earliest predecessor firms date from 1887 and 1891. The firm is headquartered in Dallas, Texas and changed its name to Locke Lord LLP on September 27, 2011."Law firm shortens name to Locke Lord," Houston Business Journal, September 27, 2011 http://www.bizjournals.com/houston/news/2011/09/27/law-firm-shortens-name-to-locke-lord.html In May 2007, the management of both Locke Liddell & Sapp and Lord Bissell & Brook proposed a corporate merger. On September 12, 2007, the partnership of each firm approved the merger, effective October 2, 2007. On January 10, 2015, the merger between Locke Lord and Edwards Wildman Palmer Edwards Wildman was an AmLaw 100 law firm. It was formed from the 2011 merger of Edwards Angell Palmer & Dodge and Wildman, Harrold, Allen & Dixon. Edwards Angell Palmer & Dodge had been for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Soviet Ruble
The ruble or rouble (russian: рубль) was the currency of the Soviet Union, introduced in 1922, replacing the Imperial Russian ruble. One ruble was divided into 100 kopecks ( – ''kopeyka'', ''kopeyki''). Soviet banknotes and coins were produced by the Federal State Unitary Enterprise (or Goznak) in Moscow and Leningrad. In addition to regular cash rubles, other types of rubles were also issued, such as several forms of ''convertible ruble'', transferable ruble, clearing ruble, Vneshtorgbank cheque, etc.; also, several forms of virtual rubles (called "cashless ruble", ) were used for inter-enterprise accounting and international settlement in the Comecon zone. In 1991, after the dissolution of the Soviet Union, the Soviet ruble continued to be used in the post-Soviet states, forming a "ruble zone", until it was replaced with the Russian ruble in September 1993. Etymology The word ''ruble'' is derived from the Slavic verb , ''rubit''', i.e., 'to chop'. Historically, a " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lithuanian Litas
The Lithuanian litas (ISO currency code LTL, symbolized as Lt; plural ''litai'' (nominative) or ''litų'' (genitive) was the currency of Lithuania, until 1 January 2015, when it was replaced by the euro. It was divided into 100 centų (genitive case; singular ''centas'', nominative plural ''centai''). The litas was first introduced on 2 October 1922 after World War I, when Lithuania declared independence and was reintroduced on 25 June 1993, following a period of currency exchange from the rouble to the litas with the temporary talonas then in place. The name was modeled after the name of the country (similar to Latvia and its lats). From 1994 to 2002, the litas was pegged to the U.S. dollar at the rate of 4 to 1. The litas was pegged to the euro at the rate of 3.4528 to 1 since 2002. The euro was expected to replace the litas by 1 January 2007, but persistent high inflation and the economic crisis delayed the switch. On 1 January 2015 the litas was switched to the euro at t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
