The issue of regional currency unification Essay - 3

The issue of regional currency unification - Essay Example In the recent past, the world has witnessed an increasing interest in economic integration and currency unification among countries in specific regions. The idea of currency unification is not new and can be dated back to 1961 when Mundell coined the concept of Optimum Currency Areas (OCA) as noted by . Currency unification has been one of the key ambitions of the Gulf Cooperation council (GCC) countries. Soon after the formation of GCC, the region’s goal for the formation of unified currency system was adopted in the article 22 of the council’s unified economic agreement of June 1982, which states that: â€Å"The member states shall seek to coordinate their financial, monetary, and banking policies and enhance cooperation between monetary agencies and central bank, including an attempt tom establish a common currency in order tom further their desired economic integration† . assert that the European economic and monetary union (EMU) model of 1999 which set the pace for the adoption of Euro by eleven countries as well as the continuing efforts by the GCC member states to integrate their economies have contributed to raise this ambition a new. It is worth noting at this point that the remarkable convergence of the exchange rate policies adhered in the GCC countries pegs to the US dollar. In accordance to exchange rate arrangement formally reported to the IMF, only the rial Oman is pegged to the dollar.

Literature Essay Example | Topics and Well Written Essays - 500 words - 3

Literature - Essay Example It is also clear that their heir feelings of nationalistic pride would have been greatly damaged following the humiliation of losing a war they perceived to be a draw. Germans were well aware that the rest of the world looked upon them with contempt and as the losers, giving them plenty of motivation for a new fight. This is why it can be said that the treaty was largely responsible for the Nazi’s rise to power and the inevitable violence of WWII. A great deal of the literature of this period remains focused on the individual and his or her attempts to discover some form of meaning in their lives. For example, Luitov in â€Å"My First Goose† attempts to find his place in a crazy world by abandoning his faith and his homeland in order to become one of the Cossacks. In the crazy world of the uneducated and rough Cossacks, though, he remains empty and unfulfilled because he is quickly branded an outsider and teased. His attempts to join the men in his rough treatment of the old woman and her goose also leave him unfulfilled because he is already feeling the ‘grating’ in his heart indicating that he has retained more of his family’s belief system than he had cared to admit. These stories typically illustrate that while we may not have much control over our lives or be provided with a world that makes any sense, we still have an element of individual control over the choices we make. Our reactions to the results of these choices help us to define who we are as people and help us develop our own sense of meaning. The Occupation of Japan went smoothly because the Americans didn’t try to come in and completely re-seat the Japanese administrative structures. However, things weren’t necessarily all that smooth. Postwar Japan was devastated by the fire bombing, living spaces were scarce and fuel and food were even less plentiful. When the U.S. went into Iraq, though, one of the first things they did was to remove the existing governmental