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Exports

remain vigilant over the budget deficits of other member the world economy in general. These challenges are
nations. A second tenet of the European Central Bank is indeed unique and will present a future of cooperative
that employment be a priority of the bank. Not all nations communication.
agreed to take on the euro as its national currency. Some SEE ALSO Trading Blocs
nations such as the United Kingdom, Denmark, and Swe-
den did not accept the currency until they gave it much
thought and discussion. BIBLIOGRAPHY
Fontaine, Pascal (2003, October). Europe in 12 lessons. Europa.
Retrieved November 2, 2005, from
AREAS OF DISAGREEMENT http://europa.eu.int/abc/12lessons/index2_en.htm
The goals of the European Union include banishing trade European Union. http://www.answers.com/topic/
barriers detrimental to free trade among member nations european&20union
while at the same time supporting the people of these Kagan, R. (2003). Of paradise and Power: America and Europe in
individual countries in their everyday lives. Difficulties the new world order. NewYork: Knopf.
arise when differing cultures must cooperate and make Smith, N. (ed) (2005). The European Union. Bronx, NY.
joint decisions. The areas of agriculture and immigration
are of particular concern. Some nations have long histories
Lawrence F. Peters, Jr.
of protectionist philosophies for their food as well as with
the issue of illegal immigrants.
In agriculture there have been other questions con-
cerning issues that have to do with monetary policy, lan- EXECUTIVE
guage barriers, and long-standing feuds. Of particular COMPENSATION
importance are the addition of the former Eastern Euro-
pean nations into the European Central Bank and the SEE Employee Compensation
management of the euro in the global economy. Signifi-
cant concerns include whether these nations can appropri-
ately manage their economies to qualify for inclusion into
the European Central bank and if they can, whether they EXPECTANCY THEORY
will be able to maintain economic discipline. If they can- SEE Motivation
not, the concern is that their collective economies could
sabotage what the European Union has worked so hard to
establish since the mid-twentieth century.
Other concerns are how the roles of terrorism, the ris- EXPORTS
ing demand for oil, and the rise of other large economies SEE Global Economy; International Investment; Interna-
such as China may affect the stability of the currency and tional Trade; Trading Blocs

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