The euro was established in the wake of economic integration whereby a single currency would help to reduce fluctuation risks and to eliminate exchange costs while strengthening the single market for a more European Union stable economy and more geopolitical power. That landmark change has offered more opportunities for global marketing due to increased economic stability and growth, more integrated financial markets whereby foreign direct investment and cross-border marketing have been promoted. But, price transparency brought about due to the single currency has presented challenges to global marketing including grey marketing and transfer pricing issues in addition to national regulatory obstacles that have been making difficult penetration in the Euro zone service sector.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Single currency: an aspect of European economic integration
- From the Treaty of Rome to the Werner Report (1957-1970)
- From the Werner Report to the European Monetary System (1970-1979)
- From the start of European Monetary System to Maastricht Treaty (1979-1991)
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This essay aims to discuss the reasons behind the introduction of the Euro as a single currency in the European Union and explore the impact this stage of economic integration has had on global marketing.
- The evolution of economic integration in the European Union
- The role of the single currency in facilitating trade and investment
- The challenges posed by the single currency for international marketing
- The opportunities presented by the single currency for businesses
- The potential benefits and drawbacks of the single currency
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction provides context by outlining the establishment of the Euro as a single currency, tracing its origins back to the Maastricht Treaty of 1992. It highlights the importance of this economic integration in relation to global marketing.
The second section delves into the single currency as a crucial aspect of European economic integration. It examines the progression towards a single currency, divided into four historical phases: from the Treaty of Rome to the Werner Report (1957-1970), from the Werner Report to the European Monetary System (1970-1979), from the start of the European Monetary System to the Maastricht Treaty (1979-1991), and finally from the Maastricht Treaty to the Euro and the Euro area (1991-1999). The section highlights key milestones, including the "snake in the tunnel" mechanism, the introduction of the European Currency Unit (ECU), and the Hanover Committee's report emphasizing the goal of monetary union.
Schlüsselwörter (Keywords)
Key terms and concepts explored in this essay include: economic integration, single currency, European Union, Euro, Maastricht Treaty, European Central Bank, international marketing, trade, investment, and economic growth.
- Quote paper
- Masters of Arts (Marketing) Jules Miller (Author), 2011, Euro Single Currency: Opportunities and Challenges for International Marketing, Munich, GRIN Verlag, https://www.grin.com/document/180906
