Vocabulary
a currency – валюта
a stable currency – стала валюта
a coin – монета
to encourage – заохочувати
to exchange – обмінювати
to increase – збільшувати
to influence – впливати
to adopt – приймати
to ensure – забезпечувати
Exercise 1: Read and translate the text about the Euro:
The European Union, with 28 Member States, is larger in population than the United States and many other nations. In terms of land area, the EU is about half the size of the United States. European Union countries share a Mediterranean coastline with North African and Middle Eastern nations and borders former Soviet countries to the east (Belarus, Ukraine, and Moldova). The countries that make up the European Union (its "Member States") pool their sovereignty in order to gain a strength and world influence none of them would have on its own.
Today the EU also deals with many other subjects of direct importance for citizens' everyday lives, such as citizens' fundamental rights; ensuring freedom, security and justice; job creation; regional development; making globalisation work for everyone, etc. Also, some key policy aims have changed in the light of changing circumstances. For example, the aim of the agricultural policy is no longer to produce as much food as cheaply as possible but to support farming methods that produce healthy, high-quality food and protect the environment. The need for environmental protection is now taken into account across the whole range of EU policies.
The Single Currency (The Euro) - The 'euro' is the single currency of the European Union. Not all Member States, however, decided to join the single currency. 11 Member States adopted the euro in 1/1/1999. They are: France, Germany, Netherlands, Italy, Belgium, Luxembourg, Ireland, Spain, Portugal, Finland, Austria. Greece joined in December 2000. Slovenia adopted the euro on 1 January 2007. Sweden, Denmark and the UK have all decided not to join the euro for the time being.
The euro was launched on January 1, 1999 when it was used as an accounting currency in 11 European countries.
Euro cash was introduced on January 1, 2002, replacing national banknotes and coins in 12 European countries.
Today 17 of the 28 Member States of the European Union use euro banknotes and coins. Citizens and businesses in these 17 countries benefit in a number of ways from using these banknotes and coins.
The euro is a sound and stable currency, especially in times of economic distress.
1. Which European countries adopted the Euro prior to the issuance of Euro banknotes and coins in 2002?
2. How many EU countries are currently using the Euro?
3. What are some of the advantages of having a single currency? Why is it needed?
-Apart from making travel easier, a single currency makes very good economic and political sense. The framework under which the euro is managed makes it a stable currency with low inflation and low interest rates, and encourages sound public finances.
-A single currency is also a logical complement to the single market which makes it more efficient. Using a single currency increases price transparency, eliminates currency exchange costs, facilitates international trade and gives the EU a more powerful voice in the world. The size and strength of the euro area also better protect it from external economic shocks, such as unexpected oil price rises or turbulence in the currency markets. Last but not least, the euro gives the EU’s citizens a symbol of their European identity, of which they can be increasingly proud as the euro area expands and multiplies these benefits for its existing and future members.
Exercise 2: Answer the questions:
What is EU? Why is it created?
Why do countries enter this organisation?
What is a currency?
How do you understand «a stable currency»?
How many EU countries are currently using the Euro?
What are some of the advantages of having a single currency? Why is it needed?
What does the Euro ensure?
Exercise 3: Read and discuss the points of the text:
The European Institutions
European Parliament - The European Parliament is the parliamentary body of the European Union (EU), directly elected once every five years. The European Parliament consists of 626 representatives chosen by the member states’ citizens. Together with the Council of Ministers, it comprises the legislative branch of the institutions of the Union.
European Commission - The European Commission (formally the Commission of the European Communities) is the executive body or "public service" of the European Union. Alongside the European Parliament and the Council of the European Union, it is one of the three main institutions governing the Union.
Council of the EU - The Council is the EU's main decision-making body. The Council of the European Union forms, along with the European Parliament, the legislative arm of the European Union (EU). It contains ministers of the governments of each of the member-states. The Council of the European Union is sometimes referred to in official European Union documents simply as the Council, and it is often informally referred to as the Council of Ministers (which will become its official name if the Treaty establishing a Constitution for Europe is adopted).
Court of Justice - The European Court of Justice (ECJ) is formally known as the 'Court of Justice of the European Communities', i.e. the court of the European Union (EU).
Exercise 4: Translate the sentences:
The European Union, with 28 Member States, is larger in population than the United States and many other nations.
The EU is about half the size of the United States.
European Union countries share a Mediterranean coastline with North African and Middle Eastern nations and borders former Soviet countries to the east (Belarus, Ukraine, and Moldova).
The countries that make up the European Union (its "Member States") pool their sovereignty in order to gain a strength and world influence none of them would have on its own.
Today the EU also deals with many other subjects of direct importance for citizens' everyday lives, such as citizens' fundamental rights; ensuring freedom, security and justice; job creation; regional development; making globalisation work for everyone, etc.
The Single Currency (The Euro) - The 'euro' is the single currency of the European Union. Not all Member States, however, decided to join the single currency. 11 Member States adopted the euro in 1/1/1999. They are: France, Germany, Netherlands, Italy, Belgium, Luxembourg, Ireland, Spain, Portugal, Finland, Austria. Greece joined in December 2000. Slovenia adopted the euro on 1 January 2007. Sweden, Denmark and the UK have all decided not to join the euro for the time being.
Today 17 of the 28 Member States of the European Union use euro banknotes and coins.
A single currency also makes the market more efficient. Using a single currency increases price transparency, eliminates currency exchange costs, facilitates international trade and gives the EU a more powerful voice in t