2. What is the significance of the birth of the euro: 1. It has promoted the process of European economic integration, thus being able to compete with the United States in economic strength. 2. Conducive to commodity exchange and convenient currency circulation. It has accelerated the pace of economic exchanges between European countries.
3. What is the significance of the formation and development of the EU to Europe and the world? After decades of planning, the euro finally came out, and 1 1 countries took the lead in participating. The euro will become another important currency besides the dollar, which can compete with the dollar in terms of gross national product, bonds and foreign exchange transactions. Whether the two will become complementary or incompatible economic camps in the future is the concern of the world.
According to the decision of the EU summit held in Brussels, Belgium last week, the EU will issue a single currency-Euro in June 1, 999/,1. Although this matter has been brewing for many years, once it was announced, it still caused quite a shock around the world. Some people say that this is the most important historical event in Europe since the fall of the Berlin Wall in 1989. Some people say that the birth of the euro will have an inestimable impact on the world economy and politics after the Cold War. In the words of EU Executive President jacques santer, "Euro is not only a powerful factor of economic integration, but also a factor of political integration. Europe is creating a real common destiny. "
Realize the dream of the EU for many years.
According to the details of the agreement, from next year 1 month 1, the currencies of the EU 1 1 countries will be officially linked to the euro. They are Germany, France, Spain, Belgium, Ireland, Luxembourg, Netherlands, Austria, Italy, Portugal and Finland. Governments, banks and businesses in these countries will start to settle accounts in euros, and their own currencies will only be used as supplementary currencies. The European Central Bank, which is under preparation, will formulate a unified interest rate and other monetary policies to coordinate and guide the financial construction of member countries. Three years later, the euro completely replaced the current currency of most EU countries. In other words, German mark, French franc, Italian lira and Dutch guilder will all become historical terms.
Prior to this, EU member states had signed an agreement, namely Maastricht Treaty, which made some specific provisions on joining the European single currency. As far as the existing 15 member States of the European Union are concerned, all other 14 countries meet the requirements except Greece. Only Britain, Denmark and Sweden suspended their participation for one reason or another. Nevertheless, the so-called euro zone is still a remarkable existence. After the unification of the currency, the EU will appear on the world stage as a whole. Due to the reduction of trade costs, "economic unification" has become a veritable "economic unification", which has eliminated the obstacles of currency circulation and is believed to effectively promote the economic, trade, tourism and capital development of all countries. It is reported that in addition to using the same currency, the EU will also formulate the same or similar economic policies, with the ultimate goal of promoting all-round free circulation within the system and realizing the ideal of "making the best use of people and things".
Enough to compete with the dollar.
In order to achieve this step, many political leaders have made painstaking efforts, painstaking efforts and sweat. Their dream "trilogy" is: first, unify the EU currency; Second, build a unified and powerful Europe; Third, dominate the world. Now it seems that a crucial step has been taken.
The euro started, and the United States bore the brunt. The United States is the largest economic power in the world today, and the status of the US dollar is unparalleled. At present, 6 1% of the world's foreign exchange reserves are US dollars, while only 20. 1% are European Union currencies and 7% are Japanese yen. Compared with the dollar, the euro is more convenient, and the regional economic strength and influence are greater. This means that many countries may abandon the dollar and adopt the euro as the reserve currency. In other words, the international status of the US dollar will be greatly weakened, and the credit of the US dollar as an intermediary currency in international trade will also be reduced.
This is because the supporting background of the euro is equivalent to that of the US dollar. For example, the gross national product of the United States is $7.2 trillion and that of the euro zone is $6 trillion. If we add the economic energy of the four member States that have not yet participated, the EU's gross national product will be $8 trillion; Bond issuance: American bonds account for 37.2% of the total global bond issuance, and the European Union accounts for 34.5%; Foreign exchange transactions: the United States accounts for 465,438+0.5% of global foreign exchange transactions, and the European Union accounts for 35%; World trade: US 19.6%, EU 20.9%; Population: 268 million in the United States and 290 million in the European Union.
The United States will definitely counter it.
According to a recent research report published by the London School of Economics, the euro will pose a real threat to the dollar in the next five years. If Britain joins the European single currency, the threat to the dollar will be even greater. The American Institute for International Economics predicts that 500 billion to 1 trillion dollars will flow to the euro in a few years. However, some people think that the gain of the euro is not necessarily the loss of the dollar, because the financial market is different from other commodity markets, not only will it not accelerate saturation and hurt each other because of competition, but it will also stimulate economic development and expand the financial market because of competition.
In any case, the euro is an existence that cannot be ignored for the dollar. In the foreseeable future, the euro will keep pace with the dollar and play a leading role in the world economy. Perhaps it is not only in the economic field, but also the possibility that the EU can unify its diplomacy and military affairs through a unified currency.
The establishment of a single currency system has been a long-cherished wish of the European Union for more than 30 years, but it is not easy to implement. Not only is there no precedent in history, but it is also because the implementation of a single currency in many countries is a complicated process and there are many technical operation problems. The most prominent points are as follows: 1. Are most countries willing to hand over a large part of their economic policies to an institution whose positioning and responsibilities are rather vague? Second, the economic development of countries is very uneven. Can rich countries bear the burden of poor countries? 3. At present, the EU has 15 full members and three associate members, while the single currency is 1 1. How can countries inside and outside the system coordinate economically and will they split?
In fact, contradictions within the European Union have emerged from the very beginning. For example, France and Germany disagree on who will be the first president of the European Central Bank.
The attitude of America is very interesting. While claiming to welcome the euro to join the competition, Washington looked on coldly, and actively participated in the Asia-Pacific Free Trade Area and the Free Trade Area of the Americas, playing a game with the EU. Some experts predict that even if the EU does not challenge the United States politically, the United States will not like to see an economically aggressive Europe. According to American style, when its economic hegemony is threatened, it will be countered. Then, when the United States takes severe measures to curb the circulation and use of the euro in the world, it is also the day when the economic war between the United States and Europe breaks out.