Basic Features of a European Monetary Order

1994 ◽  
pp. 79-93
Author(s):  
Karl Otto Pöhl
Keyword(s):  
European Monetary ◽  
Basic Features ◽  
Monetary Order

The Crisis of the Bretton Woods Monetary System and the Beginning of European Monetary Cooperation

2021 ◽  
pp. 98-106
Author(s):  
Oksana G. Lekarenko ◽  
Keyword(s):  
Monetary Union ◽  
Monetary Integration ◽  
European Monetary ◽  
European Currency ◽  
Monetary Cooperation ◽  
Bretton Woods ◽  
Monetary System ◽  
The Us ◽  
The Creation ◽  
Monetary Order

The article aims to identify the impact of the crisis of the Bretton Woods monetary system on the beginning of European monetary cooperation. Russian scholars' publications on European monetary integration usually examine in detail the internal prerequisites for the emergence of the Werner Plan and only sketch the external environment. Drawing on available European and American sources, this research provides a more nuanced picture of the origins of European monetary cooperation in the context of a general collapse of the post-war international monetary order. The article begins with the characteristic of the main features of the Bretton Woods monetary system. In the late 1960s and early 1970s, the intrinsic contradictions of the Bretton Woods mechanism, such as the problem of liquidity, confidence in the key currencies, and the adjustment mechanism, generated numerous monetary crises. All efforts to reform the international monetary system stalled because of disagreements between countries with surplus and deficit payment balances. The research also focuses on the US monetary policy. As the US dollar was the main reserve currency, the stability of the entire monetary system depended on its position. Since the late 1960s, conflicts over monetary issues developed between the United States and Western European countries, culminating in the Nixon administration's unilateral decision to abolish the gold standard in August 1971. Monetary crises and the weakness of the dollar pushed the countries of the European Economic Community to develop their own currency grouping. The article analyses the Werner Plan of 1970 that proposed the creation of an Economic and Monetary Union (EMU) with a single European currency as the ultimate goal. Based on fixed exchange rates between European currencies, the EMU represented a regional replica of the Bretton Woods system. The single European currency was seen by Europeans as an alternative to the dollar and the unpredictable American policy. The author concludes that the end of transatlantic monetary cooperation gave an additional impetus to the development of European monetary integration. Although first European efforts to create the EMU had failed because of the different approaches of France and the Federal Republic of Germany as well as the economic crisis of the early 1970s, the Werner Plan marked a crucial phase in the history of European integration. The Werner Report became a blueprint for the European Monetary System (EMS) of the late 1970s. The success of the EMS paved the way for the creation of the European Monetary Union envisaged in the Maastricht Treaty of 1991 establishing the European Union and the adoption of a single European currency - the euro.

scholarly journals REGULATORY SCOPE OF SIX PACK IN EUROPEAN MONETARY LAW

TEME ◽  
2019 ◽  
pp. 617
Author(s):  
Marko B. Dimitrijevic
Keyword(s):  
Global Financial Crisis ◽  
Active Role ◽  
The European Union ◽  
European Monetary ◽  
Member States ◽  
European Court ◽  
The Subject ◽  
Legal Security ◽  
The Global Financial Crisis ◽  
Monetary Order

The subject of the analysis in this paper is the analysis and assessment of the regulatory reach of the Six Pack in the monetary law of the European Union. In this respect, the emphasis of the research is on issues related to the need of coordination of the concepts of economic policy of the Member States at the supranational level as a prerequisite for the effective European monetary law and functions and tasks established by the European Semester as the new institutional mechanism of coordination created in the conditions of the global financial crisis. In the further text, the focus of research is on the objectives of the regulations and directive within the Six Pack, which have made the most serious changes to the monetary laws of the Member States and established new competencies of the European Commission and the European Court of Justice in the field of monetary stability, where the general conclusion is the need for their active role in applying the concept of a European semester in order to preserve legal security and ensure the acquest of the international monetary order.

Gold, Debt and the Quest for Monetary Order: The Nazi Campaign to Integrate Europe in 1940

2017 ◽  
Vol 26 (2) ◽  
pp. 287-309 ◽  
Author(s):  
STEPHEN G. GROSS
Keyword(s):  
Gold Standard ◽  
Second World War ◽  
Monetary Integration ◽  
World War ◽  
European Monetary ◽  
The Great Depression ◽  
Monetary Relations ◽  
Monetary Order ◽  
Bilateral Treaties ◽  
Second World

This article explores Nazi visions for a new monetary order in 1940 and compares these plans with European monetary integration after 1945. It shows how Nazi experts identified the same core monetary challenges facing Europe as Allied planners did during and after the Second World War, above all challenges stemming from the Great Depression and associated with the gold standard, international debts, capital scarcity and bilateral treaties. This comparison suggests a certain logic was inherent to reconstructing European monetary relations after the depression, insofar as few viable alternatives seemed open – either in 1940 or after 1945 – to some form of multilateral payment system that was divorced from gold, yet that still fixed Europe's currencies to one another. Ultimately, it argues that 1940 marks an important step in a longer process in which Europe moved away from territorial currencies toward a monetary union, and in doing so expanded the framework of fiat currency beyond national markets to encompass the continent.

The self and schizophrenia: a cognitive approach

2003 ◽  
Vol 62 (1) ◽  
pp. 45-51 ◽  
Author(s):  
Marek Nieznanski
Keyword(s):  
Normal Subjects ◽  
Control Group ◽  
Cognitive Approach ◽  
Schizophrenic Patients ◽  
Self Schema ◽  
Persons With Schizophrenia ◽  
Basic Features ◽  
Trait Words ◽  
Patients Experience ◽  
Normal Controls

The aim of the study was to explore the basic features of self-schema in persons with schizophrenia. Thirty two schizophrenic patients and 32 normal controls were asked to select personality trait words from a check-list that described themselves, themselves as they were five years ago, and what most people are like. Compared with the control group, participants from the experimental group chose significantly more adjectives that were common to descriptions of self and others, and significantly less that were common to self and past-self descriptions. These results suggest that schizophrenic patients experience their personality as changing over time much more than do healthy subjects. Moreover, their self-representation seems to be less differentiated from others-representation and less clearly defined than in normal subjects.

ЗНАЧЕННЯ ЕМОЦІЙНОЇ КОМПЕТЕНТНОСТІ ОСОБИСТОСТІ У ДИСКУРСІ ЖИТТЄТВОРЕННЯ

1970 ◽  
Vol 7 (1) ◽  
pp. 198-207
Author(s):  
Євген Карпенко
Keyword(s):  
Interpersonal Communication ◽  
Emotional Competence ◽  
World View ◽  
Personal Life ◽  
Personal Choice ◽  
Communicative Skills ◽  
Significant Life ◽  
Basic Features ◽  
Correct Implementation

У статті проаналізовано місце феномену емоційної компетентності в становленні дискурсу життєтворення особистості. Відзначено, що її засадничими ознаками є відкритість і діалогічність, що фасилітують процеси життєтворчості в інтра- та інтерпсихічному просторі та сприяють здобуттю певних експірієнтальних «знань» і формуванню відповідних комунікативних «умінь». Отже, емоційна компетентність виконує функцію орієнтації в знаково-символічній реальності внутрішнього та зовнішнього середовища і, відповідно, бере участь у прийнятті рішень стосовно них. Це сприяє реалізації функції особистісного вибору у значущих обставинах життя. Вважається, що цей вибір повинен ґрунтуватися на домінуючій екзистенційній ідентичності та релевантно реалізовуватися на всіх її рівнях: базовому, характерологічному, ситуативному. В цьому контексті емоційна компетентність виступає в якості з’єднувальної ланки між ідентичністю та її зовнішньою поведінковою маніфестацією, в якій вона, власне, й проявляється. Інтегруючи первинні емоції, емоційна компетентність сприяє формуванню системи цінностей, мотивів і світоглядних орієнтацій особистості, а також сприяє їх коректному втіленню в практиці міжособистісного спілкування і, відповідно, конструювання дискурсу власного життя. У цьому полягає ключова роль емоційної компетентності в процесі життєтворення особистості. The article analyzes the role of emotional competence in establishing the discourse of personal life creation. It has been stated that its basic features are openness and readiness to dialog that facilitate life creation processes in the intra- and interpsychic space and promote acquirement of certain experiential "knowledge" as well as formation of relevant communicative "skills". So, emotional competence has a function of orienting in sign and symbol reality of the internal and external environment and, therefore, takes part in decision-making in respect thereof. This enables realization of the function of personal choice in significant life circumstances.  This choice is considered to be based on dominant existential identity and realized in the relevant manner at all its levels: basic, characterological, situational. In this sense emotional competence forms a link between identity and its outer behavioral manifestation.  While integrating primary emotions emotional competence facilitates formation of a system of values, motives and world view of personality as well as their correct implementation in the course of interpersonal communication and personal life discourse construction. This embodies the key role of emotional competence in the process of life creation of personality.

E-health developments in the system of health services in Hungary and the European Union

2014 ◽  
Vol 155 (21) ◽  
pp. 822-827
Author(s):  
Ágnes Váradi
Keyword(s):  
Health Care ◽  
European Union ◽  
Public Discourse ◽  
Action Plan ◽  
Fundamental Rights ◽  
Public Health Care ◽  
The European Union ◽  
Contemporary Issue ◽  
Definition Of ◽  
Basic Features

The question of electronic solutions in public health care has become a contemporary issue at the European Union level since the action plan of the Commission on the e-health developments of the period between 2012 and 2020 has been published. In Hungary this issue has been placed into the centre of attention after a draft on modifications of regulations in health-care has been released for public discourse, which – if accepted – would lay down the basics of an electronic heath-service system. The aim of this paper is to review the basic features of e-health solutions in Hungary and the European Union with the help of the most important pieces of legislation, documents of the European Union institutions and sources from secondary literature. When examining the definition of the basic goals and instruments of the development, differences between the European Union and national approaches can be detected. Examination of recent developmental programs and existing models seem to reveal difficulties in creating interoperability and financing such projects. Finally, the review is completed by the aspects of jurisdiction and fundamental rights. It is concluded that these issues are mandatory to delineate the legislative, economic and technological framework for the development of the e-health systems. Orv. Hetil., 2014, 155(21), 822–827.

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