Word: europeanize
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Dates: during 1990-1999
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...almost the same time frame as NATO's move eastward, the European Union is putting together a monetary in-group with a common currency. Again, some countries will get in and some will be left out. This is very much a revolution from above, while ordinary citizens are increasingly rebellious. For the moment they are more resentful of the price of the monetary union--budget cutting and unemployment--than of its audacious surrender of national power. Voters in France, where the jobless rate is 12.8%, made that clear with a massive rebuke to the government of President Jacques Chirac...
Back in 1947, no political provisos were attached to the Marshall Plan, but when Congress appropriated funds for it, the preamble to the European Recovery Act called on the beneficiaries to form a United States of Europe. In retrospect that looks like the old American ambition to remake the world in the U.S. image, but what motivated Congress was national security rather than ideology. If the Europeans would stop slaughtering one another and band together, the U.S. might not have to march into another transoceanic...
...Europeans today do not think or talk about creating a U.S. of Europe, a federal superstate, but they are getting ready to take control of monetary policy and interest rates away from their sovereign nations and turn it over to a European Central Bank, starting 19 months from now. Then in 2002 the familiar mark, franc, guilder and several other currencies will disappear and will be replaced by the euro, with a small e. The idea is to curb inflation, eliminate the risks of up-and-down exchange rates and harmonize the member states' fiscal behavior. But the idea behind...
...usual, the European locomotive on this track is Germany and the engineer is Chancellor Helmut Kohl, who announced he will seek re-election yet again next year, mainly to shepherd monetary union and the euro into existence. For its own good, he believes, Germany must be anchored in a strong European Union and not left to throw its weight around between East and West. Chirac demonstrated his commitment to monetary union, if not his political smarts, when he called the snap election in hopes of securing control of his parliament for the next five years. The Benelux countries...
...exceptions are Sweden, Denmark and Britain. Even though Britain's economy is strong enough to qualify, Prime Minister Tony Blair says he probably won't go in on the first round. For the other states, the problem is the criteria for entry. To begin with, only members of the European Union may join, so that excludes all the former Warsaw Pact states. Then the applicants face strict requirements set by the Maastricht Treaty of 1992. At the top of the list is the demand that a country's budget deficit must not be higher than 3% of its gross domestic...