1.
Luxembourg
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Luxembourg /ˈlʌksəmbɜːrɡ/, officially the Grand Duchy of Luxembourg, is a landlocked country in western Europe. It is bordered by Belgium to the west and north, Germany to the east and its culture, people and languages are highly intertwined with its neighbours, making it essentially a mixture of French and Germanic cultures. It comprises two regions, the Oesling in the north as part of the Ardennes massif. With an area of 2,586 square kilometres, it is one of the smallest sovereign states in Europe, Luxembourg had a population of 524,853 in October 2012, ranking it the 8th least-populous country in Europe. As a representative democracy with a monarch, it is headed by a Grand Duke, Henri, Grand Duke of Luxembourg. Luxembourg is a country, with an advanced economy and the worlds highest GDP per capita. Luxembourg is a member of the European Union, OECD, United Nations, NATO, and Benelux, reflecting its political consensus in favour of economic, political. The city of Luxembourg, which is the capital and largest city, is the seat of several institutions. Luxembourg served on the United Nations Security Council for the years 2013 and 2014, around this fort, a town gradually developed, which became the centre of a state of great strategic value. In the 14th and early 15th centuries, three members of the House of Luxembourg reigned as Holy Roman Emperors, in the following centuries, Luxembourgs fortress was steadily enlarged and strengthened by its successive occupants, the Bourbons, Habsburgs, Hohenzollerns and the French. After the defeat of Napoleon in 1815, Luxembourg was disputed between Prussia and the Netherlands and this arrangement was revised by the 1839 First Treaty of London, from which date Luxembourgs full independence is reckoned. In 1842 Luxembourg joined the German Customs Union, the King of the Netherlands remained Head of State as Grand Duke of Luxembourg, maintaining a personal union between the two countries until 1890. At the death of William III, the throne of the Netherlands passed to his daughter Wilhelmina and this allowed Germany the military advantage of controlling and expanding the railways there. In August 1914, Imperial Germany violated Luxembourgs neutrality in the war by invading it in the war against France and this allowed Germany to use the railway lines, while at the same time denying them to France. Nevertheless, despite the German occupation, Luxembourg was allowed to maintain much of its independence, in 1940, after the outbreak of World War II, Luxembourgs neutrality was again violated when the Wehrmacht of Nazi Germany entered the country, entirely without justification. A government in exile based in London supported the Allies, sending a group of volunteers who participated in the Normandy invasion. Luxembourg was liberated in September 1944, and became a member of the United Nations in 1945. Luxembourgs neutral status under the constitution formally ended in 1948, in 2005, a referendum on the EU treaty establishing a constitution for Europe was held
2.
Netherlands
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The Netherlands, also informally known as Holland is the main constituent country of the Kingdom of the Netherlands. It is a densely populated country located in Western Europe with three territories in the Caribbean. The European part of the Netherlands borders Germany to the east, Belgium to the south, and the North Sea to the northwest, sharing borders with Belgium, the United Kingdom. The three largest cities in the Netherlands are Amsterdam, Rotterdam and The Hague, Amsterdam is the countrys capital, while The Hague holds the Dutch seat of parliament and government. The port of Rotterdam is the worlds largest port outside East-Asia, the name Holland is used informally to refer to the whole of the country of the Netherlands. Netherlands literally means lower countries, influenced by its low land and flat geography, most of the areas below sea level are artificial. Since the late 16th century, large areas have been reclaimed from the sea and lakes, with a population density of 412 people per km2 –507 if water is excluded – the Netherlands is classified as a very densely populated country. Only Bangladesh, South Korea, and Taiwan have both a population and higher population density. Nevertheless, the Netherlands is the worlds second-largest exporter of food and agricultural products and this is partly due to the fertility of the soil and the mild climate. In 2001, it became the worlds first country to legalise same-sex marriage, the Netherlands is a founding member of the EU, Eurozone, G-10, NATO, OECD and WTO, as well as being a part of the Schengen Area and the trilateral Benelux Union. The first four are situated in The Hague, as is the EUs criminal intelligence agency Europol and this has led to the city being dubbed the worlds legal capital. The country also ranks second highest in the worlds 2016 Press Freedom Index, the Netherlands has a market-based mixed economy, ranking 17th of 177 countries according to the Index of Economic Freedom. It had the thirteenth-highest per capita income in the world in 2013 according to the International Monetary Fund, in 2013, the United Nations World Happiness Report ranked the Netherlands as the seventh-happiest country in the world, reflecting its high quality of life. The Netherlands also ranks joint second highest in the Inequality-adjusted Human Development Index, the region called Low Countries and the country of the Netherlands have the same toponymy. Place names with Neder, Nieder, Nether and Nedre and Bas or Inferior are in use in all over Europe. They are sometimes used in a relation to a higher ground that consecutively is indicated as Upper, Boven, Oben. In the case of the Low Countries / the Netherlands the geographical location of the region has been more or less downstream. The geographical location of the region, however, changed over time tremendously
3.
Belgium
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Belgium, officially the Kingdom of Belgium, is a sovereign state in Western Europe bordered by France, the Netherlands, Germany, Luxembourg, and the North Sea. It is a small, densely populated country which covers an area of 30,528 square kilometres and has a population of about 11 million people. Additionally, there is a group of German-speakers who live in the East Cantons located around the High Fens area. Historically, Belgium, the Netherlands and Luxembourg were known as the Low Countries, the region was called Belgica in Latin, after the Roman province of Gallia Belgica. From the end of the Middle Ages until the 17th century, today, Belgium is a federal constitutional monarchy with a parliamentary system of governance. It is divided into three regions and three communities, that exist next to each other and its two largest regions are the Dutch-speaking region of Flanders in the north and the French-speaking southern region of Wallonia. The Brussels-Capital Region is a bilingual enclave within the Flemish Region. A German-speaking Community exists in eastern Wallonia, Belgiums linguistic diversity and related political conflicts are reflected in its political history and complex system of governance, made up of six different governments. Upon its independence, declared in 1830, Belgium participated in the Industrial Revolution and, during the course of the 20th century, possessed a number of colonies in Africa. This continuing antagonism has led to several far-reaching reforms, resulting in a transition from a unitary to a federal arrangement during the period from 1970 to 1993. Belgium is also a member of the Eurozone, NATO, OECD and WTO. Its capital, Brussels, hosts several of the EUs official seats as well as the headquarters of major international organizations such as NATO. Belgium is also a part of the Schengen Area, Belgium is a developed country, with an advanced high-income economy and is categorized as very high in the Human Development Index. A gradual immigration by Germanic Frankish tribes during the 5th century brought the area under the rule of the Merovingian kings, a gradual shift of power during the 8th century led the kingdom of the Franks to evolve into the Carolingian Empire. Many of these fiefdoms were united in the Burgundian Netherlands of the 14th and 15th centuries, the Eighty Years War divided the Low Countries into the northern United Provinces and the Southern Netherlands. The latter were ruled successively by the Spanish and the Austrian Habsburgs and this was the theatre of most Franco-Spanish and Franco-Austrian wars during the 17th and 18th centuries. The reunification of the Low Countries as the United Kingdom of the Netherlands occurred at the dissolution of the First French Empire in 1815, although the franchise was initially restricted, universal suffrage for men was introduced after the general strike of 1893 and for women in 1949. The main political parties of the 19th century were the Catholic Party, French was originally the single official language adopted by the nobility and the bourgeoisie
4.
Brussels
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Brussels, officially the Brussels-Capital Region, is a region of Belgium comprising 19 municipalities, including the City of Brussels which is the capital of Belgium. The Brussels-Capital Region is a part of both the French Community of Belgium and the Flemish Community, but is separate from the region of Flanders or Wallonia. The region has a population of 1.2 million and an area with a population of over 1.8 million. Brussels is the de facto capital of the European Union as it hosts a number of principal EU institutions, the secretariat of the Benelux and the headquarters of the North Atlantic Treaty Organization are also located in Brussels. Today, it is considered an Alpha global city, historically a Dutch-speaking city, Brussels has seen a language shift to French from the late 19th century onwards. Today, the majority language is French, and the Brussels-Capital Region is a bilingual enclave within the Flemish Region. All road signs, street names, and many advertisements and services are shown in both languages, Brussels is increasingly becoming multilingual with increasing numbers of migrants, expatriates and minority groups speaking their own languages. The most common theory of the origin of Brussels name is that it derives from the Old Dutch Broekzele or Broeksel, meaning marsh, Saint Vindicianus, the bishop of Cambrai made the first recorded reference to the place Brosella in 695 when it was still a hamlet. The origin of the settlement that was to become Brussels lies in Saint Gaugericus construction of a chapel on an island in the river Senne around 580. The official founding of Brussels is usually situated around 979, when Duke Charles of Lower Lotharingia transferred the relics of Saint Gudula from Moorsel to the Saint Gaugericus chapel, Charles would construct the first permanent fortification in the city, doing so on that same island. Lambert I of Leuven, Count of Leuven gained the County of Brussels around 1000 by marrying Charles daughter, as it grew to a population of around 30,000, the surrounding marshes were drained to allow for further expansion. The Counts of Leuven became Dukes of Brabant at about this time, in the 13th century, the city got its first walls. After the construction of the city walls in the early 13th century, to let the city expand, a second set of walls was erected between 1356 and 1383. Today, traces of it can still be seen, mostly because the small ring, Brabant had lost its independence, but Brussels became the Princely Capital of the prosperous Low Countries, and flourished. In 1516 Charles V, who had been heir of the Low Countries since 1506, was declared King of Spain in St. Michael and St. Gudula Cathedral in Brussels. Upon the death of his grandfather, Maximilian I, Holy Roman Emperor in 1519 and it was in the Palace complex at Coudenberg that Charles V abdicated in 1555. This impressive palace, famous all over Europe, had expanded since it had first become the seat of the Dukes of Brabant. In 1695, during the Nine Years War, King Louis XIV of France sent troops to bombard Brussels with artillery, together with the resulting fire, it was the most destructive event in the entire history of Brussels
5.
Dutch language
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It is the third most widely spoken Germanic language, after English and German. Dutch is one of the closest relatives of both German and English and is said to be roughly in between them, Dutch vocabulary is mostly Germanic and incorporates more Romance loans than German but far fewer than English. In both Belgium and the Netherlands, the official name for Dutch is Nederlands, and its dialects have their own names, e. g. Hollands, West-Vlaams. The use of the word Vlaams to describe Standard Dutch for the variations prevalent in Flanders and used there, however, is common in the Netherlands, the Dutch language has been known under a variety of names. It derived from the Old Germanic word theudisk, one of the first names used for the non-Romance languages of Western Europe. It literarily means the language of the people, that is. The term was used as opposed to Latin, the language of writing. In the first text in which it is found, dating from 784, later, theudisca appeared also in the Oaths of Strasbourg to refer to the Germanic portion of the oath. This led inevitably to confusion since similar terms referred to different languages, owing to Dutch commercial and colonial rivalry in the 16th and 17th centuries, the English term came to refer exclusively to the Dutch. A notable exception is Pennsylvania Dutch, which is a West Central German variety called Deitsch by its speakers, Jersey Dutch, on the other hand, as spoken until the 1950s in New Jersey, is a Dutch-based creole. In Dutch itself, Diets went out of common use - although Platdiets is still used for the transitional Limburgish-Ripuarian Low Dietsch dialects in northeast Belgium, Nederlands, the official Dutch word for Dutch, did not become firmly established until the 19th century. This designation had been in use as far back as the end of the 15th century, one of them was it reflected a distinction with Hoogduits, High Dutch, meaning the language spoken in Germany. The Hoog was later dropped, and thus, Duits narrowed down in meaning to refer to the German language. g, in English, too, Netherlandic is regarded as a more accurate term for the Dutch language, but is hardly ever used. Old Dutch branched off more or less around the same time Old English, Old High German, Old Frisian and Old Saxon did. During that period, it forced Old Frisian back from the western coast to the north of the Low Countries, on the other hand, Dutch has been replaced in adjacent lands in nowadays France and Germany. The division in Old, Middle and Modern Dutch is mostly conventional, one of the few moments linguists can detect somewhat of a revolution is when the Dutch standard language emerged and quickly established itself. This is assumed to have taken place in approximately the mid-first millennium BCE in the pre-Roman Northern European Iron Age, the Germanic languages are traditionally divided into three groups, East, West, and North Germanic. They remained mutually intelligible throughout the Migration Period, Dutch is part of the West Germanic group, which also includes English, Scots, Frisian, Low German and High German
6.
French language
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French is a Romance language of the Indo-European family. It descended from the Vulgar Latin of the Roman Empire, as did all Romance languages, French has evolved from Gallo-Romance, the spoken Latin in Gaul, and more specifically in Northern Gaul. Its closest relatives are the other langues doïl—languages historically spoken in northern France and in southern Belgium, French was also influenced by native Celtic languages of Northern Roman Gaul like Gallia Belgica and by the Frankish language of the post-Roman Frankish invaders. Today, owing to Frances past overseas expansion, there are numerous French-based creole languages, a French-speaking person or nation may be referred to as Francophone in both English and French. French is a language in 29 countries, most of which are members of la francophonie. As of 2015, 40% of the population is in Europe, 35% in sub-Saharan Africa, 15% in North Africa and the Middle East, 8% in the Americas. French is the fourth-most widely spoken mother tongue in the European Union, 1/5 of Europeans who do not have French as a mother tongue speak French as a second language. As a result of French and Belgian colonialism from the 17th and 18th century onward, French was introduced to new territories in the Americas, Africa, most second-language speakers reside in Francophone Africa, in particular Gabon, Algeria, Mauritius, Senegal and Ivory Coast. In 2015, French was estimated to have 77 to 110 million native speakers, approximately 274 million people are able to speak the language. The Organisation internationale de la Francophonie estimates 700 million by 2050, in 2011, Bloomberg Businessweek ranked French the third most useful language for business, after English and Standard Mandarin Chinese. Under the Constitution of France, French has been the language of the Republic since 1992. France mandates the use of French in official government publications, public education except in specific cases, French is one of the four official languages of Switzerland and is spoken in the western part of Switzerland called Romandie, of which Geneva is the largest city. French is the language of about 23% of the Swiss population. French is also a language of Luxembourg, Monaco, and Aosta Valley, while French dialects remain spoken by minorities on the Channel Islands. A plurality of the worlds French-speaking population lives in Africa and this number does not include the people living in non-Francophone African countries who have learned French as a foreign language. Due to the rise of French in Africa, the total French-speaking population worldwide is expected to reach 700 million people in 2050, French is the fastest growing language on the continent. French is mostly a language in Africa, but it has become a first language in some urban areas, such as the region of Abidjan, Ivory Coast and in Libreville. There is not a single African French, but multiple forms that diverged through contact with various indigenous African languages, sub-Saharan Africa is the region where the French language is most likely to expand, because of the expansion of education and rapid population growth
7.
German language
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German is a West Germanic language that is mainly spoken in Central Europe. It is the most widely spoken and official language in Germany, Austria, Switzerland, South Tyrol, the German-speaking Community of Belgium and it is also one of the three official languages of Luxembourg. Major languages which are most similar to German include other members of the West Germanic language branch, such as Afrikaans, Dutch, English, Luxembourgish and it is the second most widely spoken Germanic language, after English. One of the languages of the world, German is the first language of about 95 million people worldwide. The German speaking countries are ranked fifth in terms of publication of new books. German derives most of its vocabulary from the Germanic branch of the Indo-European language family, a portion of German words are derived from Latin and Greek, and fewer are borrowed from French and English. With slightly different standardized variants, German is a pluricentric language, like English, German is also notable for its broad spectrum of dialects, with many unique varieties existing in Europe and also other parts of the world. The history of the German language begins with the High German consonant shift during the migration period, when Martin Luther translated the Bible, he based his translation primarily on the standard bureaucratic language used in Saxony, also known as Meißner Deutsch. Copies of Luthers Bible featured a long list of glosses for each region that translated words which were unknown in the region into the regional dialect. Roman Catholics initially rejected Luthers translation, and tried to create their own Catholic standard of the German language – the difference in relation to Protestant German was minimal. It was not until the middle of the 18th century that a widely accepted standard was created, until about 1800, standard German was mainly a written language, in urban northern Germany, the local Low German dialects were spoken. Standard German, which was different, was often learned as a foreign language with uncertain pronunciation. Northern German pronunciation was considered the standard in prescriptive pronunciation guides though, however, German was the language of commerce and government in the Habsburg Empire, which encompassed a large area of Central and Eastern Europe. Until the mid-19th century, it was essentially the language of townspeople throughout most of the Empire and its use indicated that the speaker was a merchant or someone from an urban area, regardless of nationality. Some cities, such as Prague and Budapest, were gradually Germanized in the years after their incorporation into the Habsburg domain, others, such as Pozsony, were originally settled during the Habsburg period, and were primarily German at that time. Prague, Budapest and Bratislava as well as cities like Zagreb, the most comprehensive guide to the vocabulary of the German language is found within the Deutsches Wörterbuch. This dictionary was created by the Brothers Grimm and is composed of 16 parts which were issued between 1852 and 1860, in 1872, grammatical and orthographic rules first appeared in the Duden Handbook. In 1901, the 2nd Orthographical Conference ended with a standardization of the German language in its written form
8.
Luxembourgish
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Luxembourgish, Luxemburgish or Letzeburgesch is a West Germanic language that is spoken mainly in Luxembourg. Worldwide, about 390,000 people speak Luxembourgish. To communicate, all luxembourgees have to learn 4 different languages in the school, Luxembourgish, german, french. Since the migration of 70% of the luxembourgees to the US, despite the lack of a sharp boundary between Luxembourgish and the neighboring German dialects, this has led several linguists to regard it as a separate, yet closely related language. Luxembourgish belongs to the West Central German group of High German languages and is the example of a Moselle Franconian language. Luxembourgish is the language of Luxembourg and one of three administrative languages, alongside French and German. Luxembourgish is also spoken in the Arelerland region of Belgium and in parts of Lorraine in France. In the German Eifel and Hunsrück regions, and in Lorraine, Moselle Franconian dialects outside the Luxembourg state border tend to have far fewer French loan words, and these mostly remain from the French Revolution. There are several distinct forms of Luxembourgish including Areler, Eechternoacher, Kliärrwer, Miseler, Stater, Veiner, Minetter and Weelzer. Further small vocabulary differences may be even between small villages. There is no distinct boundary between the use of Luxembourgish and the use of other closely related High German dialects, it instead forms a dialect continuum of gradual change. Spoken Luxembourgish is relatively hard to understand for speakers of German who are not familiar with Moselle Franconian dialects. However, they can read the language to some degree. For those Germans familiar with Moselle Franconian dialects, it is easy to understand. However, the number of French loanwords in Luxembourgish may hamper communication about certain topics. There is no intelligibility between Luxembourgish and French or any of the Romance dialects spoken in the adjacent parts of Belgium, erna Hennicot-Schoepges, President of the Christian Social Peoples Party of Luxembourg 1995–2003, was active in promoting the language beyond Luxembourgs borders. A number of proposals for standardising the orthography of Luxembourgish can be documented, there was no officially recognised system, however, until the adoption of the OLO on 5 June 1946. The rules explicitly rejected certain elements of German orthography, similarly, new principles were adopted for the spelling of French loanwords. A more successful standard eventually emerged from the work of the committee of specialists charged with the task of creating the Luxemburger Wörterbuch, published in 5 volumes between 1950 and 1977
9.
West Frisian language
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West Frisian, or simply Frisian is a West Germanic language spoken mostly in the province of Friesland in the north of the Netherlands, mostly by those of Frisian ancestry. It is the most widely spoken of the three Frisian languages, the name West Frisian is only used outside the Netherlands, to distinguish this language from the closely related Frisian languages of Saterland Frisian and North Frisian spoken in Germany. Most speakers of West Frisian live in the province of Friesland in the north of the Netherlands, Friesland has 643,000 inhabitants, of whom 94% can understand spoken Frisian, 74% can speak Frisian, 75% can read Frisian, and 27% can write it. For over half of the inhabitants of the province of Friesland, 55%, also, many Frisians have left their province in the last sixty years for more prosperous parts of the Netherlands. In addition, there is a Frisian diaspora abroad, with Friesland having sent, in relative terms, the largest concentrations of Frisian speakers outside the Netherlands are located in Canada, the United States, Australia, and New Zealand. Apart from the use of Frisian as a first language, it is spoken as a second language by about 120,000 people in the province of Friesland. One part of Friesland, Stellingwerf in the south-east, does not speak Frisian, the least-used dialect of West Frisian is Skiermûntseagersk, the island dialect of Schiermonnikoog, which is actually on the verge of extinction, because it is spoken by no more than 50–100 people. The Amelansk dialect is spoken on the island Ameland and is the only Frisian variety that does not devoice final obstruants, Hindeloopen Frisian, the archaic Frisian dialect of the peninsular harbour town of Hindeloopen on the west coast, is still spoken by some 300 people at the most. Skylgersk and Aastersk are the dialects of the western and eastern parts of the island of Terschelling and have about 800 and 400 speakers respectively and they are separated from each other by the Dutch dialect of Midslands, which is spoken in the central part of Terschelling. Because of their insular nature these four less-used dialects are also those that have deviated the most from mainstream Frisian, in fact, three of the four widely used mainland dialects are so much alike that a non-Frisian could probably not make out any differences. The Noardhoeksk dialect is spoken in the eastern corner of the province. By far the two most widely spoken West Frisian dialects are Clay Frisian and Wood Frisian, both these names are derived from the Frisian landscape. In the western and north-western parts of the province, the region where Clay Frisian is spoken, the dialect spoken in the eastern area is thus called Wood Frisian. Although Klaaifrysk and Wâldfrysk are mutually very easily intelligible, there are, at least to native Frisian speakers and these include the pronunciation of the words my, dy, hy, sy, wy and by, and the diphthongs ei and aai. In the early Middle Ages the Frisian lands stretched from the area around Bruges, in what is now Belgium, to the river Weser, at that time, the Frisian language was spoken along the entire southern North Sea coast. Old Frisian bore a similarity to Old English. This similarity was reinforced in the late Middle Ages by the Ingvaeonic sound shift, which affected Frisian and English, both English and Frisian are marked by the suppression of the Germanic nasal in a word like us, soft or goose, see Ingvaeonic nasal spirant law. Also, when followed by some vowels the Germanic k developed into a ch sound, for example, the Frisian for cheese and church is tsiis and tsjerke, whereas in Dutch it is kaas and kerk
10.
Gross domestic product
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Gross Domestic Product is a monetary measure of the market value of all final goods and services produced in a period. Nominal GDP estimates are used to determine the economic performance of a whole country or region. The OECD defines GDP as a measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production. ”An IMF publication states that GDP measures the monetary value of final goods and services - that is. Total GDP can also be broken down into the contribution of industry or sector of the economy. The ratio of GDP to the population of the region is the per capita GDP. William Petty came up with a concept of GDP to defend landlords against unfair taxation during warfare between the Dutch and the English between 1652 and 1674. Charles Davenant developed the method further in 1695, the modern concept of GDP was first developed by Simon Kuznets for a US Congress report in 1934. In this report, Kuznets warned against its use as a measure of welfare, after the Bretton Woods conference in 1944, GDP became the main tool for measuring a countrys economy. The switch from GNP to GDP in the US was in 1991, the history of the concept of GDP should be distinguished from the history of changes in ways of estimating it. The value added by firms is relatively easy to calculate from their accounts, but the value added by the sector, by financial industries. GDP can be determined in three ways, all of which should, in principle, give the same result and they are the production approach, the income approach, or the expenditure approach. The most direct of the three is the approach, which sums the outputs of every class of enterprise to arrive at the total. The income approach works on the principle that the incomes of the factors must be equal to the value of their product. This approach mirrors the OECD definition given above, deduct intermediate consumption from gross value to obtain the gross value added. Gross value added = gross value of output – value of intermediate consumption, value of output = value of the total sales of goods and services plus value of changes in the inventories. The sum of the value added in the various economic activities is known as GDP at factor cost. GDP at factor cost plus indirect taxes less subsidies on products = GDP at producer price, for measuring output of domestic product, economic activities are classified into various sectors. Subtracting each sectors intermediate consumption from gross output gives the GDP at factor cost, adding indirect tax minus subsidies in GDP at factor cost gives the GDP at producer prices
11.
Purchasing power parity
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Observed deviations of the exchange rate from purchasing power parity are measured by deviations of the real exchange rate from its PPP value of 1. PPP exchange rates help to minimize misleading international comparisons that can arise with the use of exchange rates. For example, suppose that two countries produce the same amounts of goods as each other in each of two different years. But if one countrys GDP is converted into the countrys currency using PPP exchange rates instead of observed market exchange rates. The idea originated with the School of Salamanca in the 16th century, the best-known purchasing power adjustment is the Geary–Khamis dollar. The real exchange rate is equal to the nominal exchange rate. If purchasing power parity held exactly, then the exchange rate would always equal one. However, in practice the exchange rates exhibit both short run and long run deviations from this value, for example due to reasons illuminated in the Balassa–Samuelson theorem. There can be marked differences between purchasing power adjusted incomes and those converted via market exchange rates. This discrepancy has large implications, for instance, when converted via the exchange rates GDP per capita in India is about US$1,965 while on a PPP basis it is about US$7,197. At the other extreme, Denmarks nominal GDP per capita is around US$62,100, the purchasing power parity exchange rate serves two main functions. PPP exchange rates can be useful for making comparisons between countries because they stay fairly constant from day to day or week to week and only change modestly, if at all, from year to year. The PPP exchange-rate calculation is controversial because of the difficulties of finding comparable baskets of goods to compare purchasing power across countries, people in different countries typically consume different baskets of goods. It is necessary to compare the cost of baskets of goods and this is a difficult task because purchasing patterns and even the goods available to purchase differ across countries. Thus, it is necessary to make adjustments for differences in the quality of goods, furthermore, the basket of goods representative of one economy will vary from that of another, Americans eat more bread, Chinese more rice. Hence a PPP calculated using the US consumption as a base will differ from that calculated using China as a base, additional statistical difficulties arise with multilateral comparisons when more than two countries are to be compared. Various ways of averaging bilateral PPPs can provide a stable multilateral comparison. These are all issues of indexing, as with other price indices there is no way to reduce complexity to a single number that is equally satisfying for all purposes
12.
Euro
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Outside of Europe, a number of overseas territories of EU members also use the euro as their currency. Additionally,210 million people worldwide as of 2013 use currencies pegged to the euro, the euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar. The name euro was adopted on 16 December 1995 in Madrid. The euro was introduced to world markets as an accounting currency on 1 January 1999. While the euro dropped subsequently to US$0.8252 within two years, it has traded above the U. S. dollar since the end of 2002, peaking at US$1.6038 on 18 July 2008. In July 2012, the euro fell below US$1.21 for the first time in two years, following concerns raised over Greek debt and Spains troubled banking sector, as of 26 March 2017, the euro–dollar exchange rate stands at ~ US$1.07. The euro is managed and administered by the Frankfurt-based European Central Bank, as an independent central bank, the ECB has sole authority to set monetary policy. The Eurosystem participates in the printing, minting and distribution of notes and coins in all states. The 1992 Maastricht Treaty obliges most EU member states to adopt the euro upon meeting certain monetary and budgetary convergence criteria, all nations that have joined the EU since 1993 have pledged to adopt the euro in due course. Since 5 January 2002, the central banks and the ECB have issued euro banknotes on a joint basis. Euro banknotes do not show which central bank issued them, Eurosystem NCBs are required to accept euro banknotes put into circulation by other Eurosystem members and these banknotes are not repatriated. The ECB issues 8% of the value of banknotes issued by the Eurosystem. In practice, the ECBs banknotes are put into circulation by the NCBs and these liabilities carry interest at the main refinancing rate of the ECB. The euro is divided into 100 cents, in Community legislative acts the plural forms of euro and cent are spelled without the s, notwithstanding normal English usage. Otherwise, normal English plurals are used, with many local variations such as centime in France. All circulating coins have a side showing the denomination or value. Due to the plurality in the European Union, the Latin alphabet version of euro is used. For the denominations except the 1-, 2- and 5-cent coins, beginning in 2007 or 2008 the old map is being replaced by a map of Europe also showing countries outside the Union like Norway
13.
ISO 4217
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The ISO4217 code list is used in banking and business globally. ISO4217 codes are used on tickets and international train tickets to remove any ambiguity about the price. The first two letters of the code are the two letters of the ISO 3166-1 alpha-2 country codes and the third is usually the initial of the currency itself, so Japans currency code is JPY—JP for Japan and Y for yen. This eliminates the problem caused by the dollar, franc, peso and pound being used in dozens of different countries. Also, if a currency is revalued, the currency codes last letter is changed to distinguish it from the old currency. Other changes can be seen, however, the Russian ruble, for example, changed from RUR to RUB and these currency units are denominated as one troy ounce of the specified metal as opposed to USD1 or EUR1. The code XTS is reserved for use in testing, the code XXX is used to denote a transaction involving no currency. There are also codes specifying certain monetary instruments used in international finance, the codes for most supranational currencies, such as the East Caribbean dollar, the CFP franc, the CFA franc BEAC and the CFA franc BCEAO. The predecessor to the euro, the European Currency Unit, had the code XEU, the use of an initial letter X for these purposes is facilitated by the ISO3166 rule that no official country code beginning with X will ever be assigned. Because of this rule ISO4217 can use X codes without risk of clashing with a country code. ISO3166 country codes beginning with X are used for private custom use, consequently, ISO4217 can use X codes for non-country-specific currencies without risk of clashing with future country codes. The inclusion of EU in the ISO 3166-1 reserved codes list, the ISO4217 standard includes a crude mechanism for expressing the relationship between a major currency unit and its corresponding minor currency unit. This mechanism is called the exponent and assumes a base of 10. For example, USD is equal to 100 of its currency unit the cent. So the USD has exponent 2, the code JPY is given the exponent 0, because its minor unit, the sen, although nominally valued at 1/100 of a yen, is of such negligible value that it is no longer used. Usually, as with the USD, the currency unit has a value that is 1/100 of the major unit, but in some cases 1/1000 is used. Mauritania does not use a decimal division of units, setting 1 ouguiya equal to 5 khoums, some currencies do not have any minor currency unit at all and these are given an exponent of 0, as with currencies whose minor units are unused due to negligible value. There is also a code number assigned to each currency
14.
Coordinated Universal Time
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Coordinated Universal Time, abbreviated to UTC, is the primary time standard by which the world regulates clocks and time. It is within about 1 second of mean time at 0° longitude. It is one of closely related successors to Greenwich Mean Time. For most purposes, UTC is considered interchangeable with GMT, the first Coordinated Universal Time was informally adopted on 1 January 1960. This change also adopted leap seconds to simplify future adjustments, a number of proposals have been made to replace UTC with a new system that would eliminate leap seconds, but no consensus has yet been reached. Leap seconds are inserted as necessary to keep UTC within 0.9 seconds of universal time, see the Current number of leap seconds section for the number of leap seconds inserted to date. The official abbreviation for Coordinated Universal Time is UTC and this abbreviation arose from a desire by the International Telecommunication Union and the International Astronomical Union to use the same abbreviation in all languages. English speakers originally proposed CUT, while French speakers proposed TUC, the compromise that emerged was UTC, which conforms to the pattern for the abbreviations of the variants of Universal Time. Time zones around the world are expressed using positive or negative offsets from UTC, the westernmost time zone uses UTC−12, being twelve hours behind UTC, the easternmost time zone, theoretically, uses UTC+12, being twelve hours ahead of UTC. In 1995, the nation of Kiribati moved those of its atolls in the Line Islands from UTC-10 to UTC+14 so that the country would all be on the same day. UTC is used in internet and World Wide Web standards. The Network Time Protocol, designed to synchronise the clocks of computers over the internet, computer servers, online services and other entities that rely on having a universally accepted time use UTC as it is more specific than GMT. If only limited precision is needed, clients can obtain the current UTC from a number of official internet UTC servers, for sub-microsecond precision, clients can obtain the time from satellite signals. UTC is also the standard used in aviation, e. g. for flight plans. Weather forecasts and maps all use UTC to avoid confusion about time zones, the International Space Station also uses UTC as a time standard. Amateur radio operators often schedule their radio contacts in UTC, because transmissions on some frequencies can be picked up by many time zones, UTC is also used in digital tachographs used on large goods vehicles under EU and AETR rules. UTC divides time into days, hours, minutes and seconds, days are conventionally identified using the Gregorian calendar, but Julian day numbers can also be used. Each day contains 24 hours and each hour contains 60 minutes, the number of seconds in a minute is usually 60, but with an occasional leap second, it may be 61 or 59 instead
15.
Daylight saving time
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Daylight saving time is the practice of advancing clocks during summer months by one hour so that evening daylight lasts an hour longer, while sacrificing normal sunrise times. Typically, regions that use Daylight Savings Time adjust clocks forward one hour close to the start of spring, American inventor and politician Benjamin Franklin proposed a form of daylight time in 1784. New Zealander George Hudson proposed the idea of saving in 1895. The German Empire and Austria-Hungary organized the first nationwide implementation, starting on April 30,1916, many countries have used it at various times since then, particularly since the energy crisis of the 1970s. The practice has both advocates and critics, DST clock shifts sometimes complicate timekeeping and can disrupt travel, billing, record keeping, medical devices, heavy equipment, and sleep patterns. Computer software often adjusts clocks automatically, but policy changes by various jurisdictions of DST dates, industrialized societies generally follow a clock-based schedule for daily activities that do not change throughout the course of the year. The time of day that individuals begin and end work or school, North and south of the tropics daylight lasts longer in summer and shorter in winter, with the effect becoming greater as one moves away from the tropics. However, they will have one hour of daylight at the start of each day. Supporters have also argued that DST decreases energy consumption by reducing the need for lighting and heating, DST is also of little use for locations near the equator, because these regions see only a small variation in daylight in the course of the year. After ancient times, equal-length civil hours eventually supplanted unequal, so civil time no longer varies by season, unequal hours are still used in a few traditional settings, such as some monasteries of Mount Athos and all Jewish ceremonies. This 1784 satire proposed taxing window shutters, rationing candles, and waking the public by ringing church bells, despite common misconception, Franklin did not actually propose DST, 18th-century Europe did not even keep precise schedules. However, this changed as rail transport and communication networks came to require a standardization of time unknown in Franklins day. Modern DST was first proposed by the New Zealand entomologist George Hudson, whose shift work job gave him time to collect insects. An avid golfer, he also disliked cutting short his round at dusk and his solution was to advance the clock during the summer months, a proposal he published two years later. The proposal was taken up by the Liberal Member of Parliament Robert Pearce, a select committee was set up to examine the issue, but Pearces bill did not become law, and several other bills failed in the following years. Willett lobbied for the proposal in the UK until his death in 1915, william Sword Frost, mayor of Orillia, Ontario, introduced daylight saving time in the municipality during his tenure from 1911 to 1912. Starting on April 30,1916, the German Empire and its World War I ally Austria-Hungary were the first to use DST as a way to conserve coal during wartime, Britain, most of its allies, and many European neutrals soon followed suit. Russia and a few other countries waited until the year
16.
Central European Summer Time
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It corresponds to UTC + two hours. Other names which have been applied to Central European Summer Time are Middle European Summer Time, Central European Daylight Saving Time, and Bravo Time. Since 1996 European Summer Time has been observed between 1,00 UTC on the last Sunday of March and 1,00 on the last Sunday of October, the following countries and territories use Central European Summer Time. In addition, Libya used CEST during the years 1951–1959, 1982–1989, 1996–1997, European Summer Time Other countries and territories in UTC+2 time zone Other names of UTC+2 time zone
17.
Left- and right-hand traffic
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This is so fundamental to traffic flow that it is sometimes referred to as the rule of the road. About two-thirds of the population use RHT, with the remaining 76 countries and territories using LHT. Countries that use LHT account for about a sixth of the worlds area, in the early 1900s some countries including Canada, Spain, and Brazil had different rules in different parts of the country. During the 1900s many countries standardised within their jurisdictions, and changed from LHT to RHT, in 1919,104 of the worlds territories were LHT and an equal number were RHT. From 1919 to 1986,34 of the LHT territories switched to RHT, many of the countries with LHT are former British colonies in the Caribbean, Southern Africa, Southeast Asia, Australia, and New Zealand. Japan, Thailand, Nepal, Bhutan, Mozambique, Suriname, East Timor, in Europe, only four countries still drive on the left, the United Kingdom, Ireland, Malta, and Cyprus, all of which are islands. Nearly all countries use one side or the other throughout their entire territory, most exceptions are due to historical considerations and involve islands with no road connection to the main part of a country. China is RHT except the Special Administrative Regions of China of Hong Kong, the United States is RHT except the United States Virgin Islands. The United Kingdom is LHT, but its overseas territories of Gibraltar, according to the International Regulations for Preventing Collisions at Sea, water traffic is RHT. For aircraft the US Federal Aviation Regulations provide for passing on the right, light rail vehicles generally operate on the same side as other road traffic in the country. Many countries use RHT for automobiles but LHT for trains, often because of the influence of the British on early railway systems, in some countries rail traffic remained LHT after automobile traffic switched to RHT, for example in China, Brazil, and Argentina. However, France, Belgium, and Switzerland have used RHT for automobiles since their introduction, there is no technical reason to prefer one side over the other. Ancient Greek, Egyptian, and Roman troops kept to the left when marching, in 1998, archaeologists found a well-preserved double track leading to a Roman quarry near Swindon. The first reference in English law to an order for LHT was in 1756, northcote Parkinson, believed that ancient travellers on horseback or on foot generally kept to the left, since most people were right handed. If two men riding on horseback were to start a fight, each would edge toward the left, in the year 1300, Pope Boniface VIII directed pilgrims to keep left. In the late 1700s, traffic in the United States was RHT based on use of large freight wagons pulled by several pairs of horses. The wagons had no seat, so a postilion sat on the left rear horse. Seated on the left, the driver preferred that other wagons pass him on the left so that he could be sure to keep clear of the wheels of oncoming wagons, in France, traditionally foot traffic had kept right, while carriage traffic kept left
18.
Europe
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Europe is a continent that comprises the westernmost part of Eurasia. Europe is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, yet the non-oceanic borders of Europe—a concept dating back to classical antiquity—are arbitrary. Europe covers about 10,180,000 square kilometres, or 2% of the Earths surface, politically, Europe is divided into about fifty sovereign states of which the Russian Federation is the largest and most populous, spanning 39% of the continent and comprising 15% of its population. Europe had a population of about 740 million as of 2015. Further from the sea, seasonal differences are more noticeable than close to the coast, Europe, in particular ancient Greece, was the birthplace of Western civilization. The fall of the Western Roman Empire, during the period, marked the end of ancient history. Renaissance humanism, exploration, art, and science led to the modern era, from the Age of Discovery onwards, Europe played a predominant role in global affairs. Between the 16th and 20th centuries, European powers controlled at times the Americas, most of Africa, Oceania. The Industrial Revolution, which began in Great Britain at the end of the 18th century, gave rise to economic, cultural, and social change in Western Europe. During the Cold War, Europe was divided along the Iron Curtain between NATO in the west and the Warsaw Pact in the east, until the revolutions of 1989 and fall of the Berlin Wall. In 1955, the Council of Europe was formed following a speech by Sir Winston Churchill and it includes all states except for Belarus, Kazakhstan and Vatican City. Further European integration by some states led to the formation of the European Union, the EU originated in Western Europe but has been expanding eastward since the fall of the Soviet Union in 1991. The European Anthem is Ode to Joy and states celebrate peace, in classical Greek mythology, Europa is the name of either a Phoenician princess or of a queen of Crete. The name contains the elements εὐρύς, wide, broad and ὤψ eye, broad has been an epithet of Earth herself in the reconstructed Proto-Indo-European religion and the poetry devoted to it. For the second part also the divine attributes of grey-eyed Athena or ox-eyed Hera. The same naming motive according to cartographic convention appears in Greek Ανατολή, Martin Litchfield West stated that phonologically, the match between Europas name and any form of the Semitic word is very poor. Next to these there is also a Proto-Indo-European root *h1regʷos, meaning darkness. Most major world languages use words derived from Eurṓpē or Europa to refer to the continent, in some Turkic languages the originally Persian name Frangistan is used casually in referring to much of Europe, besides official names such as Avrupa or Evropa
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