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UNEMPLOYMENT IN THE EU SINCE 1999
Member rating: No Rating | Words: 1555 | Submitted: Wed Jan 02 2008
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UNEMPLOYMENT IN THE EU SINCE 1999 In 1999 a new single currency was introduced into the Euro zone, an area compromising initially of 11 countries, Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain (Greece joined in 2001 and Slovenia joined the Euro zone on 1 January 2007). Under such an agreement it was necessary for the formation of a single body that would be solely responsible for the setting of monetary policy within the zone. This would have an impact on the ability of national governments to use monetary policies such as interest rates and exchange rates to manage their own economies. It would impact on their ability to control the money supply in the country to achieve aims such as cutting inflation, or 'cooling' the economy during times of high economic growth, or re-inflating the economy during harder times. One sensitive area that could have been...
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