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| European Money |
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| European Commission Headquarters |
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| Frankfurt, Germany Skyline | ||
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| European Central Bank |
Fundaments of EURO
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| Member States of the European Union | ||
Austria - Belgium - Bulgaria - Cyprus - Czech Republic - Denmark - Estonia - Finland - France - Germany - Greece - Hungary - Ireland - Italy - Latvia - Lithuania - Luxembourg - Malta - Netherlands - Poland - Portugal - Romania - Slovakia - Slovenia - Spain - Sweden - United Kingdom |
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Major Stock Exchanges Central Bank |
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| European Economic Data | ||
EURO CENTRAL BANK RATE INFLATION RATE REAL GDP UNEMPLOYMENT RATE BALANCE OF TRADE XETRA DAX 30 INDEX ECONOMIC NEWS ECONOMIC CALENDAR |
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Economy Internally, the EU is attempting to lower trade barriers, adopt a common currency, and move toward convergence of living standards. Internationally, the EU aims to bolster Europe's trade position and its political and economic power. Because of the great differences in per capita income among member states (from $7,000 to $69,000) and historic national animosities, the EU faces difficulties in devising and enforcing common policies. For example, since 2003 Germany and France have flouted the member states' treaty obligation to prevent their national budgets from running more than a 3% deficit. In 2004 and 2007, the EU admitted 10 and two countries, respectively, that are, in general, less advanced technologically and economically than the other 15. Eleven established EU member states introduced the euro as their common currency on 1 January, 1999 (Greece did so two years later), but the UK, Sweden, and Denmark chose not to participate. Of the 12 most recent member states, only Slovenia (1 January, 2007) and Cyprus and Malta (1 January, 2008) have adopted the euro. The remaining nine are legally required to adopt the currency upon meeting EU's fiscal and monetary convergence criteria.
Agriculture Products Barley, wheat, sugar beets, oilseeds, grapes, wine ; dairy products, sheep, cattle, pigs, poultry, fish.
Industries EU is among the world's largest and most technologically advanced economies. The European Union industrial base includes, ferrous and non-ferrous metal production and processing, metal products, coal, petroleum, cement, chemicals, pharmaceuticals, aerospace, rail transportation equipment, passenger and commercial vehicles, industrial equipment, construction equipment, shipbuilding, electrical power equipment, machine tools and automated manufacturing systems, electronics and telecommunications equipment, food and beverage processing, fishing, furniture, paper, textiles, tourism.
Exports Commodities Motor vehicles, aircraft, machinery, plastics, pharmaceuticals and other chemicals, iron, steel, fuels, nonferrous metals, wood pulp and paper products, textiles, dairy products, meat, fish, alcoholic beverages. Exports Partners US 23.3%, Switzerland 7.6%, China 4.8%, Russia 5.2% (2006).
Imports $1.466 trillion. Note - external imports, excluding intra-EU trade (2005). Imports Commodities Vehicles, aircrafts, machinery, plastics, crude oil, chemicals, metals, textiles, clothing, foodstuffs. Imports Partners US 13.8%, Russia 8.2%, China 13.4%, Japan 6.2% (2006). |
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| A M B K J ForexMetrics.com |
