write about how eating an Oreo brings back the memory of childhood. Make up one specific moment in your childhood that Oreo brought you back to, such as the smell reminds you of the after school snacks during elementary school, flighting with siblings over the Oreo…etc
Write an interesting and touching story of what Oreo brought you back to in your memory.
increase and costs decrease as the level of integration intensifies. (Krugman, 1990)The growing importance of the euro in international trades and the increasing trade activities which result from adopting the currency clearly shows that benefits will outweigh costs. For a country international trades are fundamental in order to have a stronger economy. Therefore, the “antis-EMU” advocate that the process will submerge the individuality of the European nations in an “unwieldy federation, hobbled by bureaucracy, commanding little popular support and imposing a crippling burden of regulatory and other costs on Europe’s economies” (David Currie, 1997, pp.14) They believe that an organized Europe will have a negative impact for most member states as it will also “reduce the volume of trade and would certainly increase the level of unemployment” (Martin Feldstein, February 20, 2008). In order to join the EMU, a country must correspond to the Maastricht Convergence Criteria: price stability, sustainable public finances, exchange rate stability and durable convergence. The term “convergence” refers to the process of unifying technological and non-rival domains, preparing late countries in terms of structure and institutions to match with those at the forefront. One of the first obvious benefits is that the implementation of those criteria represents a factor of macroeconomic stabilisation and sustainable economic growth for both EMU countries and future members. However, the convergence requirements are also a clear example of conflict because they are considered as lacking economic rationale and imposing unnecessary pain. Many economists have attacked the convergence criteria, responsible of provoking instability and serving no other purpose except to delay. (De Grauwe, 1993) The convergence criteria and EMU itself seek to guard against “unsustainable budgetary policies in a member state” because these are seen to lead to either “default or debt monetisation” which would “be a major threat to the overall monetary stability” (European Economy, 1990:100) Furthermore, the convergence criteria make clear that fiscal discipline is defined as the avoidance of an unsustainable build-up of public debt (Emerson, 1992, pp.107) and the transition to EMU for a country will amplify the domestic effectiveness of national fiscal policy for stabilisation purposes. (Emerson, 1992, pp.115) Benefits and costs of joining the EMU Our aim is to understand the incentives of the players in the EMU, and a natural starting point is to assess economic costs and benefits of a single currency for a country like France as an example. More or less, there are microeconomic benefits versus macroeconomic costs. a) Transaction costs and stable environment One of the most obvious benefits is the resulting ease of transactions across the European Union. Countries are using one currency and as a matter of fact, the elimination of exchange rate fluctuation helped to eliminate transaction costs in intra-EU trade. Firms and business are both saving time and money. For example, an estimated $30 billion a year is spent>GET ANSWER