EUROZONE

-
What is mean by Eurozone & how to join ---Eurozone
a) It comprises of 17 nations (out of total 28) who have adopted Euro as the common currency. Euro as a single currency was launched in 1999.

b) Britain and Denmark have voluntarily kept out of it - the 'opt-out' states- for reasons of economic sovereignty.

c) 'Derogation states' are the EU member nations who are taking steps to adopt Euro. All EU member nations except ‘opt-out states’ have to adopt Euro, though each member is given time to take measures to be eligible to adopt Euro i.e. They are given time to meet the Convergence Criteria.

d) The monetary policy for Euro is the sole prerogative of European Central Bank i.e. after joining Eurozone the control of Monetary policy passes on to ECB.

Euro Area vs Economic & Monetary Union: All EU Member States are part of Economic and Monetary Union, which means they coordinate their economic policies for the benefit of the EU as a whole. However, not all EU Member States are in the euro area – only those having adopted the euro are members of the euro area.

What are the convergence criteria to join Eurozone? 
-----) These are the macroeconomic indicators which measure: a) Price stability, to show inflation is controlled;

 
b) Sound government finances, through limits on government borrowing and national debt to avoid high Fiscal Deficit;

c) Exchange-rate stability, through participation in the Exchange Rate Mechanism for at least two years without strong deviations from the ERM II central rate;

d) Long-term interest rates, to assess the durability of the convergence achieved by fulfilling the other criteria.

Comments

Post a Comment

Popular posts from this blog

INDIAN MUSIC

-
Image
Indian music:-- Music notes - Raga  ,  also spelled rag or ragam , in the classical music of India, Bangladesh, and Pakistan. It is a melodic framework for improvisation and composition. A raga is based on a scale with a given set of notes, a typical order in which they appear in melodies, and characteristic musical motifs. The basic components of a raga can be written down in the form of a scale. By using only these notes, by emphasizing certain degrees of the scale, and by going from note to note in ways characteristic to the raga, the performer sets out to create a mood or atmosphere. There are several hundred ragas in present use, and thousands are possible in theory. • Characteristics of Ragas The Raga is the most important concept that any student of Indian music should understand.   A rag may be thought of as an acoustic method of colouring the mind of th...
Read more

ODISSI OF ODISHA

-
Image
ODISSI: ORISSA,one of the earliest dance form . It is referred as "mobile-Sculpture" as it is a graceful sensuous and lyrical , Odissi is a dance of love and passion touching on the divine and the human, the sublime and the mundane. The Natya Shastra mentions many regional varieties, such as the south-eastern style known as the Odhra Magadha which can be identified as the earliest precursor of present day Odissi..  ODISSI Archaeological evidence of this dance form dating back to the 2nd century B.C. is found in the caves of Udayagiri and Khandagiri near Bhubaneshwar. Later, innumerable examples of the Buddhist sculptures, the tantric images of dancing Yoginis, the Nataraja, and other celestial musicians and dancers of early Shaivite temples bear testimony to a continuing tradition of dance from the 2nd century B.C.E to the 10th century C.E. These influences found synthesis in an unique philosophy - the dharma or faith of Jagannath. With Hinduism taking roots in O...
Read more

THE CLASSICAL DANCE KUCHIPUDI

-
Image
KUCHIPUDI:--Kuchipudi is one of the classical styles of Indian dance. Around the third and fourth decade of this century it emerged out of a long rich tradition of dance-drama of the same name. Yamini Steps in Kuchipudi In fact, Kuchipudi is derived from the name of a village " kuseelavapuri "/ kuchelapuram Krishna district of Andhra Pradesh. Kuseelavas were groups of dancers who used to perform by going village to village. Andhra has a very long tradition of dance-drama which was known under the generic name of Yakshagaana. In 17th century Kuchipudi style of Yakshagaana was conceived by Siddhendra Yogi a talented Vaishnava poet and visionary who had the capacity to give concrete shape to some of his visions. He was steeped in the literary Yakshagaana tradition being guided by his guru Teerthanaaraayana Yogi who composed the Krishna-Leelatarangini. a kaavya in Sanskrit.. A step in Kuchipudi Kuchipudi step   In compliance with this command Siddhendra Yogi c...
Read more