Accounting
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ACCOUNTING CONCEPTS AND APPLICATIONS
ACTG – 500
RESEARCH PAPER ON
FUTURE OF THE EORO AS A RESULT OF THE EUROPEAN DEBT PROBLEM
EUROPEAN UNION
The European Union is an economic and political union of 27 member states which are located primarily in Europe. The European Union traces its origins from the European Coal and Steel Community and the European Economic Community formed by six countries(Belgium, France, West Germany, Italy, Luxembourg, Netherlands) in 1958.
The European Union operates through a hybrid system of supranational independent institutions and intergovernmentally made decisions negotiated by the member states. Important institutions of the European Union include the European Commission, the Council of the European Union, the European Council, the Court of Justice of the European Union and the European Central Bank. The European Parliament is elected every five years by European Union citizens. The European Union developed a single market through a standardized system of laws which apply in all member states including the abolition of passport controls within the Schengen area. A monetary union, the Euro zone, was established in 1999 and is currently composed of seventeen member states. Through Common Foreign and Security Policy the European Union has developed a limited role in external relations and defense. Permanent diplomatic missions have been established around the world and the European Union is represented at the United Nations, the WTO, the G8 and the G-20.
With a total population of over 500 million inhabitants in 2010 the European Union generated an estimated 26% (US $ 16.28 trillion) of the global economy.
EURO
The euro is the official currency of the euro zone. 17 of the 27 member states of the European Union. It is also the currency used by the European Union institutions. The euro zone consists of Austria, Belgium,...
ACTG – 500
RESEARCH PAPER ON
FUTURE OF THE EORO AS A RESULT OF THE EUROPEAN DEBT PROBLEM
EUROPEAN UNION
The European Union is an economic and political union of 27 member states which are located primarily in Europe. The European Union traces its origins from the European Coal and Steel Community and the European Economic Community formed by six countries(Belgium, France, West Germany, Italy, Luxembourg, Netherlands) in 1958.
The European Union operates through a hybrid system of supranational independent institutions and intergovernmentally made decisions negotiated by the member states. Important institutions of the European Union include the European Commission, the Council of the European Union, the European Council, the Court of Justice of the European Union and the European Central Bank. The European Parliament is elected every five years by European Union citizens. The European Union developed a single market through a standardized system of laws which apply in all member states including the abolition of passport controls within the Schengen area. A monetary union, the Euro zone, was established in 1999 and is currently composed of seventeen member states. Through Common Foreign and Security Policy the European Union has developed a limited role in external relations and defense. Permanent diplomatic missions have been established around the world and the European Union is represented at the United Nations, the WTO, the G8 and the G-20.
With a total population of over 500 million inhabitants in 2010 the European Union generated an estimated 26% (US $ 16.28 trillion) of the global economy.
EURO
The euro is the official currency of the euro zone. 17 of the 27 member states of the European Union. It is also the currency used by the European Union institutions. The euro zone consists of Austria, Belgium,...