The adoption of Euro as an account clearing unit from 1999 to 2002 served to

The adoption of euro as an account clearing unit from

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- The adoption of Euro as an account clearing unit (from 1999 to 2002) served to stabilize the cost of transactions, profits and losses in businesses. Although national currencies continued to exist for the time being, trade among Euroland countries were hopefully safeguarded from uncertainties. [max. 2] [max. 4] (c) Usefulness and limitations of Sources T and U in reflecting the development of economic integration in Europe during the 1990s [7 marks] L1 Lopsided answer focusing on either usefulness or limitations [max. 4] 143
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L2 Comprehensive answer covering both usefulness and limitations Usefulness, e.g.: - (Sources T and U) the introduction of Euro as single common currency among Euroland countries as part of economic integration - (Source U) the subsequent reduction of trade uncertainties and anticipated increase in trade among euroland countries Limitations, e.g.: Sources T and U do not reflect the following: - The process of transformation from European Community to European Union (together with its structural and operational changes) - The geographical coverage of economic integration in the EU, i.e. which countries were / were not included in the Euro zone - Various controversies and obstacles to the adoption of Euro as single currency [max. 7] 144
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13.Study Source V. SOURCE V After the fall of the Berlin Wall in 1989, the following text was published as part of a book issued in 1992. Whether the EC [European Community] and other West European institutions have grown strongly enough to stand together and help the eastern European countries to gradually close the gap and join with the prosperous half of western Europe. Or, whether the gap has indeed become unbridgeable in which case one should not rule out an alternative nightmarish scenario whereby western Europe becomes ‘East Europeanized,’ ‘Third Worldized’ or simply thrown back to its heroic of barbaric past, complete with new religions and new wars, new prophets and new Caesars.’ Source: P. Tsakaloyannis, ‘Risks and Opportunities in East and South’ in A. Pijpers, ed., The European Community at the Crossroads (Dordrecht: M. Nijhoff, 1992), p.186. (a) Identify a major duty of the European Community in the 1990s, as shown in Source V. Cite one clue from Source V to support your answer. (1+1 mark) (b) Did the author firmly believe that the European Community could perform the duty you mentioned in part (a)? Explain your answer with reference to Source V and using your own knowledge. (4 marks) (c) Did Europe during the period 1991-2000 become more similar to the former western Europe or eastern Europe? Explain your answer with reference to Source V and using your own knowledge. (7 marks) 145
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Question 13 Suggested answers and reference for assessment (a) A major duty of the European Community in the 1990s [1+1 mark] Major duty of the EC: - To reduce the wealth gap and difference in prosperity between eastern and western European countries Clue: - “help the eastern European countries to gradually close the gap and join with the prosperous half of western Europe” [1 mark] [1 mark] (b) Whether the author firmly believed that the EC could perform its duty mentioned in part (a) [4 marks] L1 Merely elaborating the Source without identifying author’s stance L2
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