The Performance of the Euro
“Leading nations in Europe wanted to increase their economic ties to promote growth and piece. In 1951 Belgium, France, West Germany, Italy, Luxemburg and The Netherlands signed the Paris Treaty, creating the European Coal and Steel Community. In 1957, the same six countries signed the Treaties of Rome, creating the European Economic Community.� (Olmstead&Graves, 2003)
In 1979, the European Monetary System created a currency unit called the ecu to stabilize exchange rates and keep inflation in check. The Single European Act increased Political co-operation between the six EEC countries in 1986. In 1992, the ambitious Maastricht Treaty was signed setting a deadline of January 1999 for a shared currency. The treaty created the European Union following a single monetary and exchange rate policy with shared economic policies.
The Euro circulated in January 1999 as planned. The 11 member countries officially pegged their exchange rates to the euro. Companies began using the euro for internal reporting, invoicing and also for issuing bonds. Stocks began trading in euros and banks started offering euro credit-card accounts and provided euro balances for bank accounts. The currency went into common circulation on January 1, 2002.
In 1999, the ECB was a new bank with no decision-making history and that made it difficult to pass out the monetary policy strategy to the market and the public, and that was a real challenge for ECB. By now, the understanding of ECB’s monetary strategy has greatly improved. “The ECB today ranks as one of the most open, transparent and predictable central banks in the world, and they continually seek to improve their communication� (ECB, 2004)
During the first five years of the existence of the Euro, the average rate of inflation in the euro area has been 2 per cent, which is in line with the ECB’s definition of price stability. Even though inflation has occasionally risen above the 2 per cent ceiling this was a consequence of a number of shocks such as the oil shock. What is important is that these first five years of the euro’s existence, inflation expectations have remained secured to a rate close to or less than, 2 per cent as can be derived form the yields of index-linked long-term bonds.
“Back in 1999, many observers expected that the quality of the new currency, in terms of the stability of its purchasing power or the associated prevailing level of market interest rates, particularly at the long end of the yield curve, would be something like the average quality of its legacy currencies.
The European Union has been helped economically ever since World War II. Right after World War II’s end, Europe was struggling to hold on. The countries of the modern-day European Union thought it would be a good idea to come together and help each others struggling economy. To this day, this decision has had a very positive outcome on the EU’s economy. As shown in Diagram 1, the European Union combined together has the world’s highest GDP at 18.3 Trillion USD as compared to the United States’ 17.4 Trillion USD GDP and China’s 10.4 Trillion USD GDP. The idea
Prutha Patel Mr. Lougheed Social Studies 09 February, 2016 Has Europe United? Do you believe that the European Union has united Europe? A supranational cooperation is when countries give up some control of their affairs as they work together to achieve shared goals. The European countries have used supranational cooperation to create the European Union because they want to prevent future wars, and rebuild the weak economy that had formed after the two wars. The European Union has united Europe because it has made Europe have a common currency called the Euro, has a common “government” for the European Union, and has all of the countries influenced when one country that is part of the European Union is in “trouble”.
In order for a test to have appeal is must have validity (Cohen, 2012). The Stanford-Binet Intelligence Scales has been praised for its validity, and it utilizes the CHC model with is a composite model of intelligence (Cohen, 2012). The Wechsler model also shows strong validity and it also uses the CHC model (Cohen,
Britain's Joining of the the EEC in 1973 The EEC's description is as an economic customs union, in a supranational political structure. In 1951 the 'Six' first established their European unity by signing the Treaty of Paris, which was the beginning of the European Coal and Steel Community. The ECSC followed a Plan by French Foreign Minister Robert Schumen, which arranged the ECSC as the institution for the European coal and steel industries. The EEC was the result of talks started at Messina, then finalised when the Treaty of Rome was signed by the 'Six' in 1957.
The field of psychology has continuously endeavored to find an appropriate method in evaluating intelligence. The Stanford-Binet intelligence test is one of pioneering tests created to measure facets of intelligence, and it is still being utilized today (Anastasi & Urbina, 1997). Weschler created several intelligence tests focusing on age range in relation to intelligence (Anastasi & Urbina, 1997). While these tests are staples in the psychological testing community, there are many criticisms of intelligence testing. One such criticism is the absence of race and culture as influential factors of intelligence (Carroll, 2010).
Similar to Sternberg, Binet came to the conclusion that intelligence is the sum of mental processes (Flangan, Harrison, 2005). He developed the first intelligence test in order to categorize how much children benefitted from school education. The Binet-Simon scale, keeping in mind that Binet believed in intelligence consisting of different components, thus included language component, auditory processing, learning and memory, as well as judgement and problem solving (Kamin, 1974). The results were supposed to identify the student’s mental age. Lewis Terman introduced the Binet-Simon test to America and adapted it to sort army recruits in World War I (Comer et al., 2013). The Stanford-Binet test, developed by Terman in 1916, aimed to be an improved version that was able to measure mental age more appropriately (Kamin, 1974). He was convinced that intelligence is the ability to form concepts and to think abstract (Comer et al., 2013). The Stanford-Binet test has been described by Maud Minton to be superior to other intelligence tests of that time because it was very precise, it had detailed guidelines, it measured the IQ which became the standard marking system (Flangan, Harrison,
Before we begin our investigation, it is imperative that we understand the historical role of the central bank in the United States. Examining the traditional motives of this institution over time will help the reader observe a direct correlation between it and its ability to manipulate an economy. To start, I will examine one of its central policies...
“It was so hostile. I was so confused. It was happening so fast that I could easily see how this situation could get out of hand very quickly. I didn’t feel safe as all. But one officer stopped his questioning and said, ‘we may not let you go’.” (Perry) This is a quote from famous producer Tyler Perry, talking about his experience being stopped by two white police officers in Atlanta. Police officers are among the most trusted men and women in American society, they should be anyway. However, in some cities and states the trust between officers and people of a racial minority, such as Africans, Latinos and Arabs, has been tainted by mistreatment of policing powers. Some officers are stopping, searching, or pulling people of these races over and breaking the code they stand for by disrespecting the citizen, most of whom are completely innocent. This is not only morally unacceptable, but also completely unconstitutional and needs to stop promptly. With proper legislative action this injustice can and will be righted!
For the concept of intelligence, Robert Sternberg’s “Triarchic Theory of Successful Intelligence” and Gardner’s “Theory of Multiple Intelligences” were focused on for this particular self-assessment. Sternberg’s theory of intelligence divides total intelligence into analytic, creative and practical components (Woolfolk 117). According to Sternberg, analytical intelligence involves “the mental processes of the individual that lead to more or less intelligent behavior”, creative intelligence involves “coping with new experiences”, and practical intelligence involves emphasizing “the importance of choosing an environment in which you can succeed, adapting to that environment, and reshaping it if necessary” (Woolfolk 118).
Racial profiling has been one of the main causes of the tensions in communities with their police. The officers they believed they once trusted in a community, far from a white police officer and black victim crime, they are now skeptical and thinking, “If they attacked a black/white guy for no reason they’ll attack me.” This type of crime also brings up different combinations of racial tensions that were thought to be left behind in history. Racial profiling, as well as profiling based on religion, ethnicity and origin, continues to plague our nation despite the constitutional guarantee of equality. Evidence of widespread racial profiling, shows that African Americans and Hispanics are more likely to be stopped and searched by police, even though they’re less likely to be found with illegal possessions or crimes. “Critics argue that under the sole-factor definition, a hypothetical officer who routinely stops African-Americans for rolling stops or obscured license plates but does not stop Whites for the same infractions is not technically engaging in racial profiling because a reason other than race can be used to justify the stops” (Protecting Civil Rights 159). Profiling undermines public safety and thins the police and community trust. When law enforcement officers target citizens based on race or religion rather than behavior, community distrust of police seems to increase. Although the perpetrator just may happen to be a minority depending on the diversity of the population. Minority communities that had been unfairly targeted in the past continue to experience greater mistrust and fear of police officers. But, this problem can go both ways. There are white communities who would see a black cop and automatically feel fear due to others in his race, and vice versa. In order to put a stop to the problem of racial profiling of and by police officers there must be trust instilled
As the seventeenth century began the Catholic Church was having a hard time bringing back the people who were swept away by the protestant reformation. The conflict between the protestant had a big influence on art. (Baroque Art) The church decided to appeal to the human emotion and feeling. They did so by introducing a style called Baroque. Baroque was first developed in Rome and it was dedicated to furthering the aims of Counter Reformation. Baroque was first used in Italy than later spread to the north. In this paper I will argue that the Italian Baroque pieces were more detailed and captured the personality of the figure, in contrast and comparison to Northern Baroque pieces that aimed to produce a sense of excitement and to move viewers in an emotional sense leaving them in awe. I will prove this by talking about the different artwork and pieces of Italian Baroque art versus Northern Baroque Art.
The Italian Renaissance and the Baroque era are two major periods in art history, some of the types of art in those periods were painting, sculpting, and architecture. During these periods, many artist gained enormous fame from creating wonderful pieces of work that represented their beliefs and artistic thinking. This essay will analyze and evaluate two pieces from those major art periods. Rembrandt 's painting The Anatomy Lesson of Dr. Nicolaes Tulp and the sculpture David, by Michelangelo. These two masterpieces shed light of their significance in art history. David represents the Italian Renaissance for it being a strong symbol of the new republic, The Anatomy Lesson of Dr. Nicolaes Tulp depicts the focus on human progression.
The first attempt of testing intelligence was made by Binet in the early 1900’s. Binet was asked to make a test by the French government that could measure the intelligence of children in order to make a distinction between the kids who needed more help in school and those who are naturally inclined to be good learners. Although Binet believed that intelligence was too broad to be measured by a single number, and that intelligence can be influenced by many things and change over time, he agreed to make the test, thus creating the first IQ test. This test, known today as the Stanford-Binet IQ test focuses on things not learned in school, such as attention, memory, and problem solving skills. Binet also came up with the conc...
Intelligence Quotient (IQ) has been established as the manner of which intelligence is determined (Hetheringion and Parke, 1999). An IQ test is a number based scoring formula that examines a person’s mental age/chorological age on a cognitive level. Typical IQ test are given in the Stanford-Binet format or the Wechsler scale which focus on one’s spatial perception, speaking skills, problem comprehension, and memory (Herthrington and Parke, 1999). A recent concept on intelligence faculty is Stenbergs Triarchic Theory and Howard Gardner’s theory of multiple intelligences. While new to the evaluation community, both methods, each delves into considerations practical ability and geo influences (Gardner, 1983; Santrock, 2008).
Intelligence is commonly measured through the use of a number of scales and quantitative measures, like the Intelligence Quotient (IQ), developed by Alfred Binet in early 20th century to identify which French children needed more attention from their educators. The use of IQ tests progressively spread to all parts of the world. The use of these tests has raised controversy among psychologists and educators, with supporters of IQ tests assuming that the tests produce measure of genetically transmitted intelligence. On the other hand, critics of the tests have pointed out that IQ test provides a measure that defines intelligence through the use of cultural deterministic concepts. The ethnocentrism embedded in the assumptions of many commentators, has generated into a justification for a number of theoretical approaches, like those by Charles Murray and others (http://news.bbc.co.uk/2/hi/health/850358.stm).