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
19.
West Germany
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West Germany is the common English name for the Federal Republic of Germany or FRG in the period between its creation on 23 May 1949 to German reunification on 3 October 1990. During this Cold War era, NATO-aligned West Germany and Warsaw Pact-aligned East Germany were divided by the Inner German border, after 1961 West Berlin was physically separated from East Berlin as well as from East Germany by the Berlin Wall. This situation ended when East Germany was dissolved and its five states joined the ten states of the Federal Republic of Germany along with the reunified city-state of Berlin. With the reunification of West and East Germany, the Federal Republic of Germany, enlarged now to sixteen states and this period is referred to as the Bonn Republic by historians, alluding to the interwar Weimar Republic and the post-reunification Berlin Republic. The Federal Republic of Germany was established from eleven states formed in the three Allied Zones of occupation held by the United States, the United Kingdom and France, US and British forces remained in the country throughout the Cold War. Its population grew from roughly 51 million in 1950 to more than 63 million in 1990, the city of Bonn was its de facto capital city. The fourth Allied occupation zone was held by the Soviet Union, as a result, West Germany had a territory about half the size of the interbellum democratic Weimar Republic. At the onset of the Cold War, Europe was divided among the Western and Eastern blocs, Germany was de facto divided into two countries and two special territories, the Saarland and divided Berlin. The Federal Republic of Germany claimed a mandate for all of Germany. It took the line that the GDR was an illegally constituted puppet state, though the GDR did hold regular elections, these were not free and fair. For all practical purposes the GDR was a Soviet puppet state, from the West German perspective the GDR was therefore illegitimate. Three southwestern states of West Germany merged to form Baden-Württemberg in 1952, in addition to the resulting ten states, West Berlin was considered an unofficial de facto 11th state. It recognised the GDR as a de facto government within a single German nation that in turn was represented de jure by the West German state alone. From 1973 onward, East Germany recognised the existence of two German countries de jure, and the West as both de facto and de jure foreign country, the Federal Republic and the GDR agreed that neither of them could speak in the name of the other. The first chancellor Konrad Adenauer, who remained in office until 1963, had worked for an alignment with NATO rather than neutrality. He not only secured a membership in NATO but was also a proponent of agreements that developed into the present-day European Union, when the G6 was established in 1975, there was no question whether the Federal Republic of Germany would be a member as well. With the collapse of communism in Central and Eastern Europe in 1989, symbolised by the opening of the Berlin Wall, East Germany voted to dissolve itself and accede to the Federal Republic in 1990. Its five post-war states were reconstituted along with the reunited Berlin and they formally joined the Federal Republic on 3 October 1990, raising the number of states from 10 to 16, ending the division of Germany
20.
France
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France, officially the French Republic, is a country with territory in western Europe and several overseas regions and territories. The European, or metropolitan, area of France extends from the Mediterranean Sea to the English Channel and the North Sea, Overseas France include French Guiana on the South American continent and several island territories in the Atlantic, Pacific and Indian oceans. France spans 643,801 square kilometres and had a population of almost 67 million people as of January 2017. It is a unitary republic with the capital in Paris. Other major urban centres include Marseille, Lyon, Lille, Nice, Toulouse, during the Iron Age, what is now metropolitan France was inhabited by the Gauls, a Celtic people. The area was annexed in 51 BC by Rome, which held Gaul until 486, France emerged as a major European power in the Late Middle Ages, with its victory in the Hundred Years War strengthening state-building and political centralisation. During the Renaissance, French culture flourished and a colonial empire was established. The 16th century was dominated by civil wars between Catholics and Protestants. France became Europes dominant cultural, political, and military power under Louis XIV, in the 19th century Napoleon took power and established the First French Empire, whose subsequent Napoleonic Wars shaped the course of continental Europe. Following the collapse of the Empire, France endured a succession of governments culminating with the establishment of the French Third Republic in 1870. Following liberation in 1944, a Fourth Republic was established and later dissolved in the course of the Algerian War, the Fifth Republic, led by Charles de Gaulle, was formed in 1958 and remains to this day. Algeria and nearly all the colonies became independent in the 1960s with minimal controversy and typically retained close economic. France has long been a centre of art, science. It hosts Europes fourth-largest number of cultural UNESCO World Heritage Sites and receives around 83 million foreign tourists annually, France is a developed country with the worlds sixth-largest economy by nominal GDP and ninth-largest by purchasing power parity. In terms of household wealth, it ranks fourth in the world. France performs well in international rankings of education, health care, life expectancy, France remains a great power in the world, being one of the five permanent members of the United Nations Security Council with the power to veto and an official nuclear-weapon state. It is a member state of the European Union and the Eurozone. It is also a member of the Group of 7, North Atlantic Treaty Organization, Organisation for Economic Co-operation and Development, the World Trade Organization, originally applied to the whole Frankish Empire, the name France comes from the Latin Francia, or country of the Franks
21.
Italy
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Italy, officially the Italian Republic, is a unitary parliamentary republic in Europe. Located in the heart of the Mediterranean Sea, Italy shares open land borders with France, Switzerland, Austria, Slovenia, San Marino, Italy covers an area of 301,338 km2 and has a largely temperate seasonal climate and Mediterranean climate. Due to its shape, it is referred to in Italy as lo Stivale. With 61 million inhabitants, it is the fourth most populous EU member state, the Italic tribe known as the Latins formed the Roman Kingdom, which eventually became a republic that conquered and assimilated other nearby civilisations. The legacy of the Roman Empire is widespread and can be observed in the distribution of civilian law, republican governments, Christianity. The Renaissance began in Italy and spread to the rest of Europe, bringing a renewed interest in humanism, science, exploration, Italian culture flourished at this time, producing famous scholars, artists and polymaths such as Leonardo da Vinci, Galileo, Michelangelo and Machiavelli. The weakened sovereigns soon fell victim to conquest by European powers such as France, Spain and Austria. Despite being one of the victors in World War I, Italy entered a period of economic crisis and social turmoil. The subsequent participation in World War II on the Axis side ended in defeat, economic destruction. Today, Italy has the third largest economy in the Eurozone and it has a very high level of human development and is ranked sixth in the world for life expectancy. The country plays a prominent role in regional and global economic, military, cultural and diplomatic affairs, as a reflection of its cultural wealth, Italy is home to 51 World Heritage Sites, the most in the world, and is the fifth most visited country. The assumptions on the etymology of the name Italia are very numerous, according to one of the more common explanations, the term Italia, from Latin, Italia, was borrowed through Greek from the Oscan Víteliú, meaning land of young cattle. The bull was a symbol of the southern Italic tribes and was often depicted goring the Roman wolf as a defiant symbol of free Italy during the Social War. Greek historian Dionysius of Halicarnassus states this account together with the legend that Italy was named after Italus, mentioned also by Aristotle and Thucydides. The name Italia originally applied only to a part of what is now Southern Italy – according to Antiochus of Syracuse, but by his time Oenotria and Italy had become synonymous, and the name also applied to most of Lucania as well. The Greeks gradually came to apply the name Italia to a larger region, excavations throughout Italy revealed a Neanderthal presence dating back to the Palaeolithic period, some 200,000 years ago, modern Humans arrived about 40,000 years ago. Other ancient Italian peoples of undetermined language families but of possible origins include the Rhaetian people and Cammuni. Also the Phoenicians established colonies on the coasts of Sardinia and Sicily, the Roman legacy has deeply influenced the Western civilisation, shaping most of the modern world
22.
European Coal and Steel Community
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The European Coal and Steel Community was an organisation of 6 European countries set up after World War II to regulate their industrial production under a centralised authority. It was formally established in 1951 by the Treaty of Paris, signed by Belgium, France, West Germany, Italy, the Netherlands and Luxembourg. The ECSC was the first international organisation to be based on the principles of supranationalism, the ECSC was first proposed by French foreign minister Robert Schuman on 9 May 1950 as a way to prevent further war between France and Germany. He declared his aim was to make war not only unthinkable but materially impossible which was to be achieved by regional integration, of which the ECSC was the first step. The Treaty would create a market for coal and steel among its member states which served to neutralise competition between European nations over natural resources, particularly in the Ruhr. These would ultimately form the blueprint for todays European Commission, European Parliament, the Council of the European Union, the 1967 Merger Treaty led to all of ECSCs institutions to merge into that of the European Economic Community, but the ECSC retained its own independent legal personality. In 2002, the Treaty of Paris expired and the ECSC ceased to exist in any form, its activities fully absorbed by the European Community under the framework of Amsterdam and Nice treaties. Despite stiff ultra-nationalist, Gaullist and communist opposition, the French Assembly voted a number of resolutions in favour of his new policy of integrating Germany into a community, the International Authority for the Ruhr changed in consequence. Schumans guiding principles were moral, based on the equality of states, the Schuman Declaration of 9 May 1950 occurred after two Cabinet meetings, when the proposal became French government policy. France was thus the first government to agree to surrender sovereignty in a supranational Community and it laid out a plan for a European Community to pool the coal and steel of its members in a common market. Such an act was intended to help economic growth and cement peace between France and Germany, who were historic enemies, Coal and steel were vital resources needed for a country to wage war, so pooling those resources between two such enemies was seen as more than symbolic. Schuman saw the decision of the French government on his proposal as the first example of a democratic and supranational Community, a new development in world history. The plan was seen by some, like Monnet, who crossed out Reuters mention of supranational in the draft and inserted federation. The Schuman Declaration that created the ECSC had several distinct aims and it would make war between member states impossible. It would transform Europe in a step by step process leading to the unification of Europe democratically and it would create the worlds first supranational institution. It would create the worlds first international anti-cartel agency and it would create a common market across the Community. It would, starting with the coal and steel sector, revitalise the whole European economy by similar community processes and it would improve the world economy and the developing countries, such as those in Africa. Firstly, it was intended to prevent further war between France and Germany and other states by tackling the cause of war
23.
European Economic Community
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The European Economic Community was a regional organisation which aimed to bring about economic integration among its member states. It was created by the Treaty of Rome of 1957, upon the formation of the European Union in 1993, the EEC was incorporated and renamed as the European Community. In 2009 the ECs institutions were absorbed into the EUs wider framework and it gained a common set of institutions along with the European Coal and Steel Community and the European Atomic Energy Community as one of the European Communities under the 1965 Merger Treaty. In 1993, a single market was achieved, known as the internal market, which allowed for the free movement of goods, capital, services. In 1994, the market was formalised by the EEA agreement. This agreement also extended the market to include most of the member states of the European Free Trade Association. Upon the entry into force of the Maastricht Treaty in 1993 and this was also when the three European Communities, including the EC, were collectively made to constitute the first of the three pillars of the European Union, which the treaty also founded. The EEC was also known as the Common Market in the English-speaking countries and sometimes referred to as the European Community even before it was renamed as such in 1993. In 1951, the Treaty of Paris was signed, creating the European Coal and this was an international community based on supranationalism and international law, designed to help the economy of Europe and prevent future war by integrating its members. In the aim of creating a federal Europe two further communities were proposed, a European Defence Community and a European Political Community. While the treaty for the latter was being drawn up by the Common Assembly, the ECSC parliamentary chamber, after the Messina Conference in 1955, Paul Henri Spaak was given the task to prepare a report on the idea of a customs union. The so-called Spaak Report of the Spaak Committee formed the cornerstone of the negotiations at Val Duchesse castle in 1956. Together with the Ohlin Report the Spaak Report would provide the basis for the Treaty of Rome, in 1956, Paul Henri Spaak led the Intergovernmental Conference on the Common Market and Euratom at the Val Duchesse castle, which prepared for the Treaty of Rome in 1957. The conference led to the signature, on 25 March 1957, the resulting communities were the European Economic Community and the European Atomic Energy Community. These were markedly less supranational than the communities, due to protests from some countries that their sovereignty was being infringed. The first formal meeting of the Hallstein Commission, was held on 16 January 1958 at the Chateau de Val-Duchesse, the EEC was to create a customs union while Euratom would promote co-operation in the nuclear power sphere. The EEC rapidly became the most important of these and expanded its activities, one of the first important accomplishments of the EEC was the establishment of common price levels for agricultural products. In 1968, internal tariffs were removed on certain products, another crisis was triggered in regard to proposals for the financing of the Common Agricultural Policy, which came into force in 1962
24.
European Union
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The European Union is a political and economic union of 28 member states that are located primarily in Europe. It has an area of 4,475,757 km2, the EU has developed an internal single market through a standardised system of laws that apply in all member states. Within the Schengen Area, passport controls have been abolished, a monetary union was established in 1999 and came into full force in 2002, and is composed of 19 EU member states which use the euro currency. The EU operates through a system of supranational and intergovernmental decision-making. The EU traces its origins from the European Coal and Steel Community, the community and its successors have grown in size by the accession of new member states and in power by the addition of policy areas to its remit. While no member state has left the EU or its antecedent organisations, the Maastricht Treaty established the European Union in 1993 and introduced European citizenship. The latest major amendment to the basis of the EU. The EU as a whole is the largest economy in the world, additionally,27 out of 28 EU countries have a very high Human Development Index, according to the United Nations Development Programme. In 2012, the EU was awarded the Nobel Peace Prize, through the Common Foreign and Security Policy, the EU has developed a role in external relations and defence. The union maintains permanent diplomatic missions throughout the world and represents itself at the United Nations, the World Trade Organization, the G7, because of its global influence, the European Union has been described as an emerging superpower. After World War II, European integration was seen as an antidote to the nationalism which had devastated the continent. 1952 saw the creation of the European Coal and Steel Community, the supporters of the Community included Alcide De Gasperi, Jean Monnet, Robert Schuman, and Paul-Henri Spaak. These men and others are credited as the Founding fathers of the European Union. In 1957, Belgium, France, Italy, Luxembourg, the Netherlands and West Germany signed the Treaty of Rome and they also signed another pact creating the European Atomic Energy Community for co-operation in developing nuclear energy. Both treaties came into force in 1958, the EEC and Euratom were created separately from the ECSC, although they shared the same courts and the Common Assembly. The EEC was headed by Walter Hallstein and Euratom was headed by Louis Armand, Euratom was to integrate sectors in nuclear energy while the EEC would develop a customs union among members. During the 1960s, tensions began to show, with France seeking to limit supranational power, Jean Rey presided over the first merged Commission. In 1973, the Communities enlarged to include Denmark, Ireland, Norway had negotiated to join at the same time, but Norwegian voters rejected membership in a referendum
25.
Mark Rutte
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Mark Rutte is a Dutch politician who has been the Prime Minister of the Netherlands since 14 October 2010, and the Leader of the Peoples Party for Freedom and Democracy since 31 May 2006. At the 2006 general election, the Peoples Party for Freedom and Democracy, already under Rutte, lost six seats, and he became the opposition leader. At the following election in 2010, the VVD won the highest number of votes cast. After a long period, Rutte became Prime Minister and formed a Cabinet. When Rutte was sworn in on 14 October 2010, he became the first liberal Prime Minister of the Netherlands in 92 years, on 5 November 2012, the Second Rutte cabinet was installed by Queen Beatrix. Izaäk Rutte worked for a company, first as an importer in the Dutch East Indies. Rutte attended a high school from 1979 until 1985, specialising in the arts. Although Ruttes original ambition was to attend a conservatory and become a concert pianist, he went to study history at Leiden University instead, where he obtained a MA degree in 1992. Rutte combined his studies with a position on the board of the Youth Organisation Freedom and Democracy, after his studies, Rutte entered the business world, working as a manager for Unilever and Calvé. Until 1997, Rutte was part of the human resource department of Unilever, between 1997 and 2000, Rutte was staff manager for Van den Bergh Nederland, a subsidiary of Unilevers. In 2000, Rutte became a member of the Corporate Human Resources Group, between 1993 and 1997, Rutte was a member of the national board of the VVD. Rutte also served as a member of the VVD candidate committee for the election of 2002. Rutte was elected as Member of Parliament in 2003, Rutte served as Undersecretary in the Social Affairs and Employment ministry from 22 July 2002 to 17 June 2004 in the first and second Balkenende cabinets. Rutte was responsible for fields including bijstand and arbeidsomstandigheden, after the 2003 elections Rutte was briefly also a member of the House of Representatives, from 30 January to 27 May 2003. In office, Rutte showed particular interest in making the Dutch higher education system more competitive internationally, Rutte would have been succeeded by former The Hague alderman Bruno Bruins. Before Bruins could be sworn into office, the second Balkenende cabinet fell, in the subsequently formed third Balkenende cabinet Bruins succeeded Rutte as Undersecretary. Rutte resigned as Undersecretary in June 2006 to return to the House of Representatives, Rutte became an important figure within the VVD leadership. Rutte was campaign manager for the 2006 municipal elections, on 31 May 2006, it was announced that Mark Rutte would be the next front-runner of the VVD
26.
Jean-Claude Juncker
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Jean-Claude Juncker is a Luxembourgish politician. Since 2014, Juncker has been President of the European Commission, from 1995 to 2013, he was the 23rd Prime Minister of Luxembourg, and from 1989 to 2009, he was the Minister for Finances. From 2005 to 2013, Juncker served as the first permanent President of the Eurogroup, in 2014, the European Peoples Party had Juncker as its lead candidate, or Spitzenkandidat, for the Presidency of the Commission in the 2014 elections. This marked the first time that the Spitzenkandidat process was employed, the EPP won 220 out of 751 seats in the Parliament. On 27 June 2014, the European Council officially nominated Juncker for the position, and on 15 July 2014 and he succeeded Jose Manuel Barroso as President on 1 November 2014. During his leadership, Britain voted to leave the European Union in 2016, Juncker is the first President that prior to the election has campaigned as a candidate for the position, a process introduced with the Treaty of Lisbon. Juncker was born in Redange, Luxembourg, and spent the majority of his childhood in Belvaux and he studied at the Roman Catholic école apostolique at Clairefontaine on the edge of Arlon in Belgium, before returning to Luxembourg to study for his Baccalaureate at the Lycée Michel Rodange. He joined the Christian Social Peoples Party in 1974 and he studied Law at the University of Strasbourg, graduating with a Masters in Law in 1979, and although he was sworn into the Luxembourg Bar Council in 1980, he never practised as a lawyer. Juncker is fluent in his language of Luxembourgish, along with French, German. Following Junckers graduation from the University of Strasbourg, he was appointed as a Parliamentary Secretary and he later won election to the Chamber of Deputies for the first time in 1984 and was immediately appointed to the Cabinet of Prime Minister Jacques Santer as Minister of Labour. This led to his given a chairmans role at a number of meetings of the Council of the European Communities. Shortly before the 1989 election Juncker was seriously injured in a road accident. His eventual promotion to Prime Minister seemed at this time inevitable, Juncker at this time also accepted the position of Luxembourgs representative on the 188-member board of Governors of the World Bank. Juncker was re-elected to the Chamber in 1994, maintaining his ministerial role, Juncker relinquished his post at the World Bank at this time, but maintained his position as Minister for Finance. Junckers first term as Prime Minister was focused on a platform of international bilateral ties to improve Luxembourgs profile abroad. The press dubbed Juncker the Hero of Dublin for achieving a consensus between the two. He also instigated the Euro 11, an group of European finance ministers for matters regarding his Economic. For all of these initiatives, he was honoured with the Vision for Europe Award in 1998, after the 2004 election, the Luxembourg Socialist Workers Party became the second largest party again, and Juncker again formed a coalition with them
27.
Yves Leterme
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Yves Camille Désiré Leterme is a Flemish Belgian politician, a leader of the Christian Democratic and Flemish party, and was the 48th Prime Minister of Belgium. Leterme was the Prime Minister of Belgium from March 2008 to December 2008 and he has been Minister of Foreign Affairs, Deputy Prime Minister and Minister of Budget, Institutional Reforms, Transport and the North Sea in the Belgian federal government. He is a former Minister-President of Flanders and Flemish Minister of Agriculture, despite his French name, Leterme is Flemish. He is fluent in Dutch, French and English, on 17 July, King Albert, after holding a flurry of consultations with leaders of political parties, labour unions, and the employers association, rejected Letermes resignation. Instead, the king appointed a commission of representatives of the linguistic communities to investigate how to restart the reform process. The commission was to report to the king by 31 July 2008, on 19 December 2008 he offered his resignation to King Albert II after a crisis surrounding the sale of Fortis to BNP Paribas. On 22 December 2008 King Albert II accepted his resignation, along with that of his entire government and he remained Prime Minister until 30 December, when Herman Van Rompuy was appointed as his successor. On 24 November 2009, it was announced that Leterme would once again become Prime Minister, succeeding Van Rompuy, who had been selected to become the first President of the European Council. On 22 April 2010 he once offered his resignation to King Albert II after a key Flemish party. An election followed in June, resulting in protracted attempts to negotiate a governing coalition, on 6 December 2011 Leterme was finally succeeded as Prime Minister by Elio Di Rupo, ending the longest run of a caretaker government in the developed world. The following day he was appointed to the title of Minister of State. Yves Leterme was born on 6 October 1960 in the city of Wervik in the province of West Flanders and he is half-Walloon, and grew up fluently bilingual. He studied law at the Catholic University of Leuven where he received a LL. B. degree in 1981 and he then studied at Ghent University where he subsequently obtained a BSc degree in Political Science, a LL. M. degree, and a MPA degree in 1985. Before entering national politics, Leterme served as an auditor at the countrys Court of Audit and he then became adjunct and then national secretary of the Christian Peoples Party until he resigned to become a civil servant with the European Union. In 1997, he went on leave from that position when he was appointed Member of the Belgian Parliament. He has been a member of the city council of Ypres since 1995 and he served as alderman of Ypres from 1995 to 2001. He was appointed to the Chamber of Representatives in 1997, elected in 1999 and 2003, after the defeat of the CD&V in the general elections of 2003, he succeeded Stefaan De Clerck as party chairman. In 2004 Yves Leterme became Minister-President of the Flemish government, Flanders has fared well during his term in office
28.
The Hague
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The Hague is a city on the western coast of the Netherlands, and the capital city of the province of South Holland. With a population of 520,704 inhabitants and more than one million including the suburbs, it is the third-largest city of the Netherlands. The Rotterdam The Hague Metropolitan Area, with a population of approximately 2.7 million, is the 12th-largest in the European Union and the most populous in the country. Located in the west of the Netherlands, The Hague is in the centre of the Haaglanden conurbation and lies at the southwest corner of the larger Randstad conurbation. The Hague is the seat of the Dutch government, parliament, the Supreme Court, and the Council of State, but the city is not the capital of the Netherlands, which constitutionally is Amsterdam. King Willem-Alexander of the Netherlands plans to live at Huis ten Bosch and works at Noordeinde Palace in The Hague, the Hague is also home to the world headquarters of Royal Dutch Shell and numerous other major Dutch companies. The Hague originated around 1230, when Count Floris IV of Holland purchased land alongside a pond, in 1248, his son and successor William II, King of the Romans, decided to extend the residence to a palace, which would later be called the Binnenhof. He died in 1256 before this palace was completed but parts of it were finished by his son Floris V, of which the Ridderzaal and it is still used for political events, such as the annual speech from the throne by the Dutch monarch. From the 13th century onwards, the counts of Holland used The Hague as their administrative centre, the village that originated around the Binnenhof was first mentioned as Haga in a charter dating from 1242. In the 15th century, the smarter des Graven hage came into use, literally The Counts Wood, with connotations like The Counts Hedge, s-Gravenhage was officially used for the city from the 17th century onwards. Today, this name is used in some official documents like birth. The city itself uses Den Haag in all its communication and their seat was located in The Hague. At the beginning of the Eighty Years War, the absence of city walls proved disastrous, in 1575, the States of Holland even considered demolishing the city but this proposal was abandoned, after mediation by William of Orange. From 1588, The Hague also became the seat of the government of the Dutch Republic, in order for the administration to maintain control over city matters, The Hague never received official city status, although it did have many of the privileges normally granted only to cities. In modern administrative law, city rights have no place anymore, only in 1806, when the Kingdom of Holland was a puppet state of the First French Empire, was the settlement granted city rights by Louis Bonaparte. After the Napoleonic Wars, modern-day Belgium and the Netherlands were combined in the United Kingdom of the Netherlands to form a buffer against France, as a compromise, Brussels and Amsterdam alternated as capital every two years, with the government remaining in The Hague. After the separation of Belgium in 1830, Amsterdam remained the capital of the Netherlands, when the government started to play a more prominent role in Dutch society after 1850, The Hague quickly expanded. The growing city annexed the rural municipality of Loosduinen partly in 1903, the city sustained heavy damage during World War II
29.
Capital (economics)
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In economics, capital goods, real capital, or capital assets are already-produced, durable goods or any non-financial asset that is used in production of goods or services. Adam Smith defines capital as That part of a stock which he expects to afford him revenue. The term stock is derived from the Old English word for stump or tree trunk and it has been used to refer to all the moveable property of a farm since at least 1510. In Middle Ages France contracted leases and loans bearing interest specified payment, how a capital good is maintained or returned to its pre-production state varies with the type of capital involved. In most cases capital is replaced after a period as newer forms of capital make continued use of current capital non profitable. It is also possible that advances make a form of capital practical again. Capital is distinct from land in that capital can be increased by human labor, at any given moment in time, total physical capital may be referred to as the capital stock. Capital is an input in the production function, homes and personal autos are not usually defined as capital but as durable goods because they are not used in a production of saleable goods and services. In Marxist political economy, capital is used to buy something only in order to sell it again to realize a financial profit. In more contemporary schools of economics, this form of capital is referred to as financial capital and is distinguished from capital goods. Classical and neoclassical economics regard capital as one of the factors of production, all other inputs to production are called intangibles in classical economics. This includes organization, entrepreneurship, knowledge, goodwill, or management and this is what makes it a factor of production, The good is not used up immediately in the process of production unlike raw materials or intermediate goods. The good can be produced or increased and these distinctions of convenience have carried over to contemporary economic theory. There was the clarification that capital is a stock. As such, its value can be estimated at a point in time, by contrast, investment, as production to be added to the capital stock, is described as taking place over time, thus a flow. Since at least the 1960s economists have increasingly focused on forms of capital. These terms lead to questions and controversies discussed in those articles. It is in the form of assets, traded in financial markets
30.
Service (economics)
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In economics, a service is a transaction in which no physical goods is transferred from the seller to the buyer. The benefits of such a service are held to be demonstrated by the willingness to make the exchange. Public services are those that society as a whole pays for, using resources, skill, ingenuity, and experience, service providers benefit service consumers. Services can be described in terms of their key characteristics, sometimes called the Five Is of Services and they are not manufactured, transported or stocked. Services cannot be stored for a future use and they are produced and consumed simultaneously. Services are perishable in two regards, Service-relevant resources, processes and systems are assigned for delivery during a specific period in time. If the service consumer does not request and consume the service during this period, from the perspective of the service provider, this is a lost business opportunity if no other use for those resources is available. Examples, A hairdresser serves another client, an empty seat on an airplane cannot be filled after departure. When the service has been rendered to the consumer, this particular service irreversibly vanishes. Example, a passenger has been transported to the destination and the flight is over, the service provider must deliver the service at the time of service consumption. The service is not manifested in an object that is independent of the provider. The service consumer is also inseparable from service delivery, examples, The service consumer must sit in the hairdressers chair, or in the airplane seat. Correspondingly, the hairdresser or the pilot must be in the shop or plane, respectively, many services are regarded as heterogeneous and are typically modified for each service consumer or each service context. Another and more common term for this is heterogeneity, both service provider and service consumer participate in the service provision. Mass generation and delivery of services must be mastered for a provider to expand. This can be seen as a problem of service quality, both inputs and outputs to the processes involved providing services are highly variable, as are the relationships between these processes, making it difficult to maintain consistent service quality. Many services involve variable human activity, rather than a precisely determined process, the human factor is often the key success factor in service provision. Demand can vary by season, time of day, business cycle, consistency is necessary to create enduring business relationships
31.
Goods
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In economics, goods are materials that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product. A common distinction is made between goods that are property, and services, which are non-physical. A good is an item that is useful to people but scarce in relation to its demand. In contrast, free goods, such as air, are naturally in abundant supply, commodities may be used as a synonym for economic goods but often refer to marketable raw materials and primary products. Although in economic theory all goods are considered tangible, in reality certain classes of goods, such as information, only take intangible forms. For example, among other goods an apple is an object, while news belongs to an intangible class of goods. Goods may increase or decrease their utility directly or indirectly and may be described as having marginal utility, some things are useful, but not scarce enough to have monetary value, such as the Earths atmosphere, these are referred to as free goods. In economics, a bad is the opposite of a good, Goods diversity allows for their classification into different categories based on distinctive characteristics, such as tangibility and relative elasticity. A tangible good like an apple differs from a good like information due to the impossibility of a person to physically hold the latter. Intangible goods differ from services in that goods are transferable and can be traded. Price elasticity also differentiates types of goods, an inelastic good is one for which there are few or no substitutes, such as tickets to major sporting events, original works by famous artists, and prescription medicine such as insulin. Complementary goods are generally more inelastic than goods in a family of substitutes and this is because hamburger buns and beef are complementary goods. It is important to note that goods considered complements or substitutes are relative associations, the following chart illustrates the classification of goods according to their exclusivity and competitiveness. Goods are capable of being delivered to a consumer. Goods that are economic intangibles can only be stored, delivered, Goods, both tangibles and intangibles, may involve the transfer of product ownership to the consumer. Services do not normally involve transfer of ownership of the service itself, for example, distributing electricity among consumers is a service provided by an electric utility company. While the service is a process that remains in its entirety in the ownership of the service provider. The consumer becomes electric energy owner by purchase and may use it for any lawful purposes just like any other goods, fast-moving consumer goods Final goods Intangible asset Intangible good List of economics topics Goods and services Service Tangible property Bannock, Graham et al
32.
Baltic Assembly
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The Baltic Assembly is a regional organization that promotes intergovernmental cooperation between the Baltic republics of Estonia, Latvia, and Lithuania. It attempts to find a position in relation to many international issues, including economic. The decisions of the assembly are advisory, the budget of the BA is funded by the three-member governments. The official languages of the Baltic Assembly are Estonian, Latvian and Lithuanian, the headquarters and secretariat of the organization are located in Riga, Latvia. The Baltic States, Estonia, Latvia, and Lithuania were independent states since 1918 after the fall of the Russian Empire. During the outbreak of World War II, under the Ribbentrop-Molotov Pact, they were annexed by the Soviet Union in 1940. The Soviet Union itself recognised the independence of the restored Baltic states on 6 September 1991 before its dissolution later that year, the organization was formed after a decision to establish it was made in Vilnius on 1 December 1990. It works under regulations approved on 8 November 1991 in Tallinn, on 13 June 1994 the three nations agreed to the structure and rules of the organization. There are ordinary and extraordinary Sessions, the ordinary Session is convened once a year, as a concluding forum of a countrys presidency, which proceeds according to a yearly rotation principle in Estonia, Latvia, and Lithuania. Before 2003 there were two Sessions a year – in spring and autumn, and countries - participants had half a year presidency, any national delegation may propose that an extraordinary session is held. On 8-9 February 1998 in Helsinki, Finland, following to the 2nd Joint Meeting of the Nordic Council and the Baltic Assembly, the first Extraordinary Session of the Baltic Assembly took place. The second Extraordinary Session of the Baltic Assembly was held on 27-29 April 2005 in Parnu, Estonia, following to the 5th Joint Meeting of the Baltic Assembly, each of the parliaments of the three States appoints twenty of its members to the Assembly. Each of the national parliaments appoints two of the members to be head and deputy head of the national delegation, the six head delegates and deputy head delegates from the BA’s Presidium. The Chairman of the Presidium is the head of the delegation of the country hosting the next session of the BA. The heads of the two national delegations are Vice Chairmen of the Presidium. The Presidium controls the BA between sessions, the Chairman acts as the coordinator of the work of the BA, is its representative with other bodies and liaises with the three members’ governments. The 20 members of the BA from each country are chosen so that their political make-up reflects the proportions within their home parliament, the members may then form cross-national party groupings of at least five members from at least two nations. As of 2006, the three political groupings are the Conservative-Right Party Group, the Centre Party Group, and the Social Democratic Party Group, since 1993, the Baltic Assembly gives out an award annually for achievements in literature, the arts, and science
33.
Nordic Council
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The Nordic Council is a geo-political inter-parliamentary forum for co-operation between the Nordic countries. It was formed after the Second World War in 1952 to promote co-operation between the five Nordic countries and its first concrete result was the introduction in 1952 of a common labour market and free movement across borders without passports for the countries citizens. The Council consists of 87 representatives from Denmark, Finland, Iceland, Norway and Sweden as well as the areas of the Faroe Islands, Greenland. The representatives are members of parliament in their respective country/area and are elected by those parliaments, the Council holds ordinary sessions each year in October/November and usually one extra session per year with a specific theme. Since 1991 Estonia, Latvia and Lithuania participate with observer status, in 1971, the Nordic Council of Ministers, an intergovernmental forum, was established to complement the Council. During World War II, Denmark and Norway were occupied by Germany, Finland fought a war with the Soviet Union, while Sweden, though neutral. Following the war, the Nordic countries pursued the idea of a Scandinavian defence union to ensure their mutual defence, however, Finland, due to its Paasikivi-Kekkonen policy of neutrality and FCMA treaty with the USSR, could not participate. It was proposed that the Nordic countries would unify their foreign policy and defence, remain neutral in the event of a conflict and not ally with NATO, which some were planning at the time. As Denmark and Norway sought US aid for their post-war reconstruction, further Nordic co-operation, such as an economic customs union, also failed. This led Danish Prime Minister Hans Hedtoft to propose, in 1951 and this proposal was agreed by Denmark, Iceland, Norway and Sweden in 1952. The Councils first session was held in the Danish Parliament on 13 February 1953, when Finnish-Soviet relations thawed following the death of Joseph Stalin, Finland joined the council in 1955. On 2 July 1954, the Nordic labour market was created and in 1958, building upon a 1952 passport-free travel area and these two measures helped ensure Nordic citizens free movement around Scandinavia. A Nordic Convention on Social Security was implemented in 1955, there were also plans for a single market but they were abandoned in 1959 shortly before Denmark, Norway and Sweden joined the European Free Trade Area. Finland became a member of EFTA in 1961 and Denmark. This move towards the EEC led to desire for a formal Nordic treaty, further advancements on Nordic cooperation were made in the following years, a Nordic School of Public Health, a Nordic Cultural Fund and Nordic House in Reykjavík. Danish Prime Minister Hilmar Baunsgaard proposed full economic cooperation in 1968, nordek was agreed in 1970, but Finland then backtracked, stating that its ties with the Soviet Union meant it could not form close economic ties with potential members of the EEC. As a consequence, Denmark and Norway applied to join the EEC, in 1970 representatives of the Faroe Islands and Åland were allowed to take part in the Nordic Council as part of the Danish and Finnish delegations. Norway turned down EEC membership in 1972 while Denmark acted as a builder between the EEC and the Nordics
34.
Sweden
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Sweden, officially the Kingdom of Sweden, is a Scandinavian country in Northern Europe. It borders Norway to the west and Finland to the east, at 450,295 square kilometres, Sweden is the third-largest country in the European Union by area, with a total population of 10.0 million. Sweden consequently has a low density of 22 inhabitants per square kilometre. Approximately 85% of the lives in urban areas. Germanic peoples have inhabited Sweden since prehistoric times, emerging into history as the Geats/Götar and Swedes/Svear, Southern Sweden is predominantly agricultural, while the north is heavily forested. Sweden is part of the area of Fennoscandia. The climate is in very mild for its northerly latitude due to significant maritime influence. Today, Sweden is a monarchy and parliamentary democracy, with a monarch as head of state. The capital city is Stockholm, which is also the most populous city in the country, legislative power is vested in the 349-member unicameral Riksdag. Executive power is exercised by the government chaired by the prime minister, Sweden is a unitary state, currently divided into 21 counties and 290 municipalities. Sweden emerged as an independent and unified country during the Middle Ages, in the 17th century, it expanded its territories to form the Swedish Empire, which became one of the great powers of Europe until the early 18th century. Swedish territories outside the Scandinavian Peninsula were gradually lost during the 18th and 19th centuries, the last war in which Sweden was directly involved was in 1814, when Norway was militarily forced into personal union. Since then, Sweden has been at peace, maintaining a policy of neutrality in foreign affairs. The union with Norway was peacefully dissolved in 1905, leading to Swedens current borders, though Sweden was formally neutral through both world wars, Sweden engaged in humanitarian efforts, such as taking in refugees from German-occupied Europe. After the end of the Cold War, Sweden joined the European Union on 1 January 1995 and it is also a member of the United Nations, the Nordic Council, Council of Europe, the World Trade Organization and the Organisation for Economic Co-operation and Development. Sweden maintains a Nordic social welfare system that provides health care. The modern name Sweden is derived through back-formation from Old English Swēoþēod and this word is derived from Sweon/Sweonas. The Swedish name Sverige literally means Realm of the Swedes, excluding the Geats in Götaland, the etymology of Swedes, and thus Sweden, is generally not agreed upon but may derive from Proto-Germanic Swihoniz meaning ones own, referring to ones own Germanic tribe
35.
Denmark
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The term Danish Realm refers to the relationship between Denmark proper, the Faroe Islands and Greenland—three countries constituting the Kingdom of Denmark. The legal nature of the Kingdom of Denmark is fundamentally one of a sovereign state. The Faroe Islands and Greenland have been part of the Crown of Denmark since 1397 when the Kalmar Union was ratified, legal matters in The Danish Realm are subject to the Danish Constitution. Beginning in 1953, state law issues within The Danish Realm has been governed by The Unity of the Realm, a less formal name for The Unity of the Realm is the Commonwealth of the Realm. In 1978, The Unity of The Realm was for the first time referred to as rigsfællesskabet. The name caught on and since the 1990s, both The Unity of The Realm and The Danish Realm itself has increasingly been referred to as simply rigsfællesskabet in daily parlance. The Danish Constitution stipulates that the foreign and security interests for all parts of the Danish Realm are the responsibility of the Danish government, the Faroes received home rule in 1948 and Greenland did so in 1979. In 2005, the Faroes received a self-government arrangement, and in 2009 Greenland received self rule, the Danish Realms unique state of internal affairs is acted out in the principle of The Unity of the Realm. This principle is derived from Article 1 of the Danish Constitution which specifies that constitutional law applies equally to all areas of the Danish Realm, the Constitutional Act specifies that sovereignty is to continue to be exclusively with the authorities of the Realm. The language of Denmark is Danish, and the Danish state authorities are based in Denmark, the Kingdom of Denmarks parliament, with its 179 members, is located in the capital, Copenhagen. Two of the members are elected in each of Greenland and the Faroe Islands. The Government ministries are located in Copenhagen, as is the highest court, in principle, the Danish Realm constitutes a unified sovereign state, with equal status between its constituent parts. Devolution differs from federalism in that the powers of the subnational authority ultimately reside in central government. The Self-Government Arrangements devolves political competence and responsibility from the Danish political authorities to the Faroese, the Faroese and Greenlandic authorities administer the tasks taken over from the state, enact legislation in these specific fields and have the economic responsibility for solving these tasks. The Danish government provides a grant to the Faroese and the Greenlandic authorities to cover the costs of these devolved areas. The 1948 Home Rule Act of the Faroe Islands sets out the terms of Faroese home rule, the Act states. the Faroe Islands shall constitute a self-governing community within the State of Denmark. It establishes the government of the Faroe Islands and the Faroese parliament. The Faroe Islands were previously administered as a Danish county, the Home Rule Act abolished the post of Amtmand and these powers were expanded in a 2005 Act, which named the Faroese home government as an equal partner with the Danish government
36.
Finland
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Finland, officially the Republic of Finland, is a sovereign state in Northern Europe. A peninsula with the Gulf of Finland to the south and the Gulf of Bothnia to the west, the country has borders with Sweden to the northwest, Norway to the north. Estonia is south of the country across the Gulf of Finland, Finland is a Nordic country situated in the geographical region of Fennoscandia, which also includes Scandinavia. Finlands population is 5.5 million, and the majority of the population is concentrated in the southern region,88. 7% of the population is Finnish people who speak Finnish, a Uralic language unrelated to the Scandinavian languages, the second major group are the Finland-Swedes. In terms of area, it is the eighth largest country in Europe, Finland is a parliamentary republic with a central government based in the capital Helsinki, local governments in 311 municipalities, and an autonomous region, the Åland Islands. Over 1.4 million people live in the Greater Helsinki metropolitan area, from the late 12th century, Finland was an integral part of Sweden, a legacy reflected in the prevalence of the Swedish language and its official status. In the spirit of the notion of Adolf Ivar Arwidsson, we are not Swedes, we do not want to become Russians, let us therefore be Finns, nevertheless, in 1809, Finland was incorporated into the Russian Empire as the autonomous Grand Duchy of Finland. In 1906, Finland became the nation in the world to give the right to vote to all adult citizens. Following the 1917 Russian Revolution, Finland declared itself independent, in 1918, the fledgling state was divided by civil war, with the Bolshevik-leaning Reds supported by the equally new Soviet Russia, fighting the Whites, supported by the German Empire. After a brief attempt to establish a kingdom, the became a republic. During World War II, the Soviet Union sought repeatedly to occupy Finland, with Finland losing parts of Karelia, Salla and Kuusamo, Petsamo and some islands, Finland joined the United Nations in 1955 and established an official policy of neutrality. The Finno-Soviet Treaty of 1948 gave the Soviet Union some leverage in Finnish domestic politics during the Cold War era, Finland was a relative latecomer to industrialization, remaining a largely agrarian country until the 1950s. It rapidly developed an advanced economy while building an extensive Nordic-style welfare state, resulting in widespread prosperity, however, Finnish GDP growth has been negative in 2012–2014, with a preceding nadir of −8% in 2009. Finland is a top performer in numerous metrics of national performance, including education, economic competitiveness, civil liberties, quality of life, a large majority of Finns are members of the Evangelical Lutheran Church, though freedom of religion is guaranteed under the Finnish Constitution. The first known appearance of the name Finland is thought to be on three rune-stones. Two were found in the Swedish province of Uppland and have the inscription finlonti, the third was found in Gotland, in the Baltic Sea. It has the inscription finlandi and dates from the 13th century, the name can be assumed to be related to the tribe name Finns, which is mentioned first known time AD98. The name Suomi has uncertain origins, but a candidate for a source is the Proto-Baltic word *źemē, in addition to the close relatives of Finnish, this name is also used in the Baltic languages Latvian and Lithuanian
37.
Member state of the European Union
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The European Union comprises 28 member states. Each member state is party to the treaties of the union and thereby subject to the privileges. Unlike members of most international organisations, the states of the EU are subjected to binding laws in exchange for representation within the common legislative. Member states must agree unanimously for the EU to adopt policies concerning defence, subsidiarity is a founding principle of the EU. In 1957, six core states founded the EUs predecessor, the European Economic Community, the remaining states have acceded in subsequent enlargements. On 1 July 2013, Croatia became the newest member state of the EU, Enlargement of the Union is also contingent upon the consent of all existing members and the candidates adoption of the existing body of EU law, known as the acquis communautaire. There is disparity in the size, wealth and political system of member states, while in some areas majority voting takes place where larger states have more votes than smaller ones, smaller states have disproportional representation compared to their population. No member state has withdrawn or been suspended from the EU, in June 2016, the UK held a referendum on membership of the EU, resulting in 51. 89% of votes cast in favour to leaving. Prime Minister Theresa May invoked Article 50 on 29 March 2017 to formally initiate the withdrawal process, notes Enlargement is, and has been, a principal feature of the Unions political landscape. The EUs predecessors were founded by the Inner Six, those willing to forge ahead with the Community while others remained skeptical. It was only a decade before the first countries changed their policy and attempted to join the Union, French President Charles de Gaulle feared British membership would be an American Trojan horse and vetoed its application. Applying in 1969 were the United Kingdom, Ireland, Denmark, Norway, however, declined to accept the invitation to become a member when the electorate voted against it, leaving just the UK, Ireland and Denmark to join. But despite the setbacks, and the withdrawal of Greenland from Denmarks membership in 1985, in 1987, the geographical extent of the project was tested when Morocco applied, and was rejected as it was not considered a European country. The year 1990 saw the Cold War drawing to a close, meanwhile, the members of the former Eastern Bloc and Yugoslavia were all starting to move towards EU membership. Ten of these joined in an enlargement on 1 May 2004 symbolising the unification of East. Bulgaria and Romania joined in 2007, the year 2013 saw the latest member, Croatia, accede to the Union, and the EU has prioritised membership for the rest of the Balkans – namely Western Balkans. Albania, Macedonia, Montenegro, Serbia, and Turkey are all formal, turkish membership, pending since the 1980s, is a more contentious issue but it entered negotiations in 2005. According to the Copenhagen criteria, membership of the European Union is open to any European country that is a stable, free market liberal democracy that respects the rule of law and human rights
38.
Digital Single Market
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Digital Single Market is a planned sector of the European Single Market that covers digital marketing, E-commerce and telecommunication. It was announced in May 2015 by the Juncker Commission, the Digital Single Market is part of the Digital Agenda for Europe 2020 program of the EU, an initiative of Europe 2020 proposed strategy. It is defined by A Digital Single Market Strategy for Europe by the European Commission, European Union roaming regulations Digital Single Market European Commission website Digital Agenda for Europe 2020 European Commission website
39.
Economic and Monetary Union of the European Union
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The Economic and Monetary Union is an umbrella term for the group of policies aimed at converging the economies of member states of the European Union at three stages. The policies cover the 19 eurozone states, as well as non-euro European Union states, each stage of the EMU consists of progressively closer economic integration. Only once a state participates in the stage it is permitted to adopt the euro as its official currency. As such, the stage is largely synonymous with the eurozone. The euro convergence criteria are the set of requirements that needs to be fulfilled in order for a country to join the eurozone, nineteen EU member states, including most recently Lithuania, have entered the third stage and have adopted the euro as their currency. All new EU member states must commit to participate in the stage in their treaties of accession. Only Denmark and the United Kingdom, whose EU membership predates the introduction of the euro, have legal opt outs from the EU Treaties granting them an exemption from this obligation. The remaining seven non-euro member states are obliged to enter the stage once they comply with all convergence criteria. The idea of an economic and monetary union in Europe was first raised well before establishing the European Communities, for example, the Latin Monetary Union existed from 1865-1927. The project experienced serious setbacks from the crises arising from the non-convertibility of the US dollar into gold in August 1971, an attempt to limit the fluctations of European currencies, using a snake in the tunnel, failed. This way of working was derived from the Spaak method, the treaty enters into force on the 1 November 1993. On 16 December 1995, details such as the name of the new currency as well as the duration of the periods are decided. On 3 May 1998, at the European Council in Brussels, on 1 June 1998, the European Central Bank is created, and on 31 December 1998, the conversion rates between the 11 participating national currencies and the euro are established. From the start of 1999, the euro is now a real currency, a three-year transition period begins before the introduction of actual euro notes and coins, but legally the national currencies have already ceased to exist. On 1 January 2001, Greece joins the stage of the EMU. On 1 January 2002, the notes and coins are introduced. On 1 January 2007, Slovenia joins the stage of the EMU. On 1 January 2008, Cyprus and Malta join the stage of the EMU
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