CAN THE EUROZONE SURVIVE Coursework Example | Topics and Well Written Essays - 2000 words

CAN THE EUROZONE SURVIVE - Coursework Example Finally, it stipulates reasons on to whether the Eurozone can survive the crisis and whether it should survive the crisis. Introduction The Eurozone is a constituent of the European Union countries that have adopted the euro as their common currency. The Eurozone is a constituent of many countries including: Austria, Finland, France, Belgium, Cyprus, Germany, Slovakia, Netherlands, Estonia, Greece, Italy, Luxembourg, Ireland, Malta, Portugal, Slovenia and Spain. The Eurozone crisis is a state whereby the countries in the Eurozone have experienced difficulties in paying their debts. The Eurozone countries are experiencing the crisis since they have experienced deficits in their current accounts. That means the capital outflows have exceeded the capital inflows. These countries are located in the continent of Europe. These countries had faced many problems in their countries and wondered how to eliminate. The Euro was adopted first by eleven states in the 1st of January 1999. This happ ened after the countries decided to use a single currency across the union. The Euro was developed by the European states to be used as a common currency. Some of the complexities that these nations faced before the adoption of the euro include the devaluation of their currencies. This is a situation whereby a countries currency loses value in terms of another currency. This threatened the stability of the countries and they therefore saw it necessary to look for solutions to those problems with the interest of protecting the states from any instability. Furthermore, shift of the exchange rates of the countries was a threat and the countries sought for some Exchange Rate Mechanism (ERM) so as to solve the issue (Ralph, mar 9 2012). The nations experienced inflations at a high rate with the shifting of the exchange rate. They, thus, decided on the Exchange Rate Mechanism so as to solve the issues of inflation and bankruptcy that come with inflexible exchange rates. The countries agre ed to the need of a common currency but with various purposes of protecting political and economic interest, in mind. Before entering into the contract of using one currency, the states had experienced many difficulties including the devaluation of the countries’ currencies against other countries’. There were qualifications to be met and the Euro was adopted by those states only after the achievement of the qualifications. Some of the qualifications were for the member countries to have their fiscal deficits under 3% of the country’s Gross Domestic Product (GDP) and for the states’ governments to lower and limit their debts to 60% of the GDP (Peter, & Matt, Mar 15 2012). However, after the adoption of the common currency, it is sad to state that the countries that hoped to get away from the financial crisis are now caught up in it. The countries are caught up in it because they failed to follow some laid down rules and decided to act on what they deemed fitting to them. There are many strategies underway that the countries are trying to implement to see if they’ll get out of the crisis. Analysis of the problem (Past) The European Union was formed with the signing of the Maastricht Treaty by the member states, in the year 1992. The need and means of the formation of the common currency was formulated in the year 1992. It was in 1999 that the

Hank williams Sr Essay Example | Topics and Well Written Essays - 1250 words

Hank williams Sr - Essay Example He befriended music from the very start and the guitar given to him by his mother when he was eight years old, became his lifeline. Williams' childhood friend Rufus Payne (aka Tee Tot) taught him how to play the guitar and sing the blues. Hank Williams' home (now Hank Williams' Boyhood Home & Museum), surroundings and the initial hard family times influenced the style of his songs. Willing to take music as a career, Williams began performing around the Georgiana and Greenville areas of Alabama in his early teens. Forming a local band in Montgomery called the Drifting Cowboys, they became quite popular and the local radio station played their music regularly. Singing songs of the famous artists and his idol, Roy Acuff, the radio station dubbed him the Singing Kid. Lillie became the temporary manager for Williams and collected gate money, contracted and negotiated for gigs. Looking at the face of stardom, Williams contracted with alcoholism and turned intoxicated for his radio shows and eventually got fired due to his "habitual drunkenness". Audrey Mae Sheppard became Williams' manager and short time later in 1943, his wife. Although at the time Williams was a local hero, but he couldn't make it to big names yet. To get further in the limelight, the couple toured Nashville to meet with a songwriter/music publisher Fred Rose who was one of the heads of Acuff-Rose Publishing. Rose instantaneously liked Williams' songs and recorded two sessions for Sterling Records. This resulted in two singles, both hits. Seeing the success and potential in him, MGM Records signed a contract with him in early in 1947 and Rose became the Williams' manager and record producer. His first single with MGM, 'Move It On Over,' was instant hit and rose to the country Top Five charts. Songs released in 1948 like 'Honky Tonkin' and 'I'm a Long Gone Daddy' peaked in the charts too. Another huge success came in early in 1949 with 'Lovesick Blues,' which remained at number one for 16 weeks and crossing over into the pop Top 25. This song was performed at Grand Ole Opry and received a record six encores from the crowds. During this time, Williams and Audrey had their first child, Randall Hank in 1949. Soon afterwards, Williams gathered the guitarist Bob McNett, bassist Hillous Butrum, fiddler Jerry Rivers, and steel guitarist Don Helms to perform the most acclaimed versions of Drifting Cowboys. He and his band were earning handsomely and most of their shoes were sold out. In the early 1950s Williams made at least seven hits and most of them made it to the Top Five Charts. During these years, a different side of Hank Williams came to be known. He started to record some religious and spiritual records under the name of Luke the Drifter. The change of name was due to the fact that he thought that the dick jockeys and jukebox operators would not play his non-traditional songs and there spiritual songs would hurt his reputation as a country musician. Although the name was chosen to hide his identity, he couldn't cloak his voice. The next year Williams came back with more of the hits to please his fans. H e started taking parts in television shows and package tours to market him further. The music was going great with most songs of 1951 entering the top