The EU automotive industry currently faces a number of issues. It lags behind the US and Japan in terms of productivity; labour productivity is currently 25% less than US and 30% less than Japan. However, labour costs are comparable
. Nature of Issue The automotive industry is one of the largest and most influential multinational industries in the world. It is a key indicator of economic growth and a major contributor to the gross domestic product (GDP) of several Member States and the EU. The automotive industry as a whole accounts for 10% of the total value of production in the EU and employs around twelve million people. On a global level, the assets of the top ten multinational automotive enterprises represent 28% of total assets of the world's top 50 companies. It is additionally a highly competitive industry, with low margins due to market saturation. Efficiency and low costs are the critical main factors or strategy adopted. Consequence, in order to reduce costs, outsourcing and relocation of production has increasingly become an important method of cost cutting. This has enabled many automotive companies to strengthen or enhance their market position. Many production plants were generally located around Western Europe especially within France and Germany. Many of the biggest automotive companies from Western Europe are of these countries, for example Peugeot and Volkswagen. Expansion of the EU is a miniature version of globalisation. Globalisation is seen as a method to which the world can become one market. In recent years there is a trend for companies to offshore or relocate specific
'Economic Integration within the European Union: Have MNEs driven the Commission's decision to adopt the IFRS policy?'
'Economic Integration within the European Union: Have MNEs driven the Commission's decision to adopt the IFRS policy?' "The decision of the Commission of the European Union (EU) to oblige listed European companies...to establish their consolidated financial statements according to IFRS (IAS) represents a preliminary peak in the internationalisation process of financial accounting in Europe" (Haller and Kepler, 2002). After years of preparation, a EU-wide standard for accounting regulations, named International Financial Reporting Standards (IFRS), came into force in 2005. This essay seeks to investigate into the economic integration process currently occurring amongst EU Member States by examining the adoption of IFRS by the European Commission (EC). It will commence by introducing the IFRS policy and the key areas of financial reporting that it will impact. Then, the advantages and disadvantages of the policy, and previous measures and directives implemented to integrate the EU's economy will be given. Following on from this, the main body of the essay, being the argument for and against multinational enterprises (MNEs) having driven the Commission to adopt IFRS, will be presented. Finally, the essay will conclude with providing my opinion on whether this argument is valid or not. According to Anon (2004), "The new rules are aimed at replacing the hodgepodge of national
"To what extent will the proposed EU constitution affect, the procedure for EU/EC negotiation and conclusion of international agreements"
Nikolaos Ktenas 03019776 Pr. Steve Peers LL34P Ladbroke House 22/01/2004 LLM European & International Law EU Public Law & International Relations "To what extent will the proposed EU constitution affect, the procedure for EU/EC negotiation and conclusion of international agreements" Whilst some of the European Union's relations with international organizations have political or humanitarian roots, the vast majority is economic and relates to the organisation of the world economy. According to the founding Treaties each of the Communities has the capacity to establish relations with certain international organisations and to conclude certain types of international agreements The most important of these economic organisations that have engaged with the EC since the early years of its existence, are: the International Monetary Fund (IMF), the International Trade Organisation (ITO) and the General Agreement on Tariffs and Trade (GATT) and since 1994 the World Trade Organisation (WTO). My analysis will begin by examining the law as it stands according to the articles of the Treaties and case law. This will include a closer look on some established cases that made the EU set up the standards under the proposed constitution. There are three types of international agreements capable of being invoked in the context of EC law, arising from the Community's powers under
The Corruption Crisis of the European Commission.
The Corruption Crisis of the European Commission Abstract: The Corruption Scandal of the European Commission and its possible effects on the institutional balance and the question of legitimacy I. Defining Corruption The first chapter is an attempt to define corruption. It is important to divide overlapping and complicated terms such as corruption, scandal and fraud. Corruption is defined as an illegal transaction, where both actors benefit from their special position in the market or the government. Scandal is the public reaction to allegations of corruption and thus it is interconnected with the issue of legitimacy. Fraud, however is a purely criminal cathegory. The European Commission is a multicultural and multinational institution of the European Union so it is vital to take into account the cultural relativity of the meaning of corruption. Corruption can only be defined within a specific society and at a specific time. This culture specific aspect of corruption is reflected in the division of so called black, white and grey corruption. Black corruption in a given society is a repremanded behaviour both by the public and by experts. It is a well defined area of the untolerated behaviour. White corruption on the other hand is the behaviour that is tolerated by the public in a given society and not looked upon as misbehaviour. Grey corruption is the area in between,
European Single Currency.
Economics Coursework European Single Currency By Sheryar Majid Contents Page Page 1 Cover Page 2 Contents Page 3 Introduction Page 4 Aim, Method (Page1) Page 5 Method (Page2) Page 6 and 7 Hypothesis Page 8 and 9 Pros and Cons of the Euro for Vodafone UK Page 10 and 11 What will the affects of Britain joining the euro be on Vodafone UK? Page 12 Questionnaire Page 13 and 14 EMU theory Page 15 Conclusion Page 16 Evaluation Page 17 Bibliography How the single monetary system and the Euro will affect UK businesses and Vodafone UK in particular: The Euro is the new single currency for Europe. This currency came into affect on 1 January 1999, from the fixing of conversion rates of eleven national currencies. These eleven countries will replace their national currencies with the Euro. A single currency will therefore need a single Bank, hence the ECB, the European Central Bank. The ECB located in Germany has the responsibility for providing and managing the Euro and take decisions on the level of interest rates. All together there will be 11 countries joining the Euro from a possible 15, the four nations not joining will be the UK, Sweden, Denmark and Greece. These countries have each claimed that they want to wait until economic conditions are right before joining the Euro. However the countries joining the Euro will be
An Analysis of the Powers of the European Parliament.
AN ANALYSIS OF THE POWERS OF THE EUROPEAN PARLIAMENT History of the European Parliament: On the 18th April 1951 the Ministers representing France, Germany, Italy, Belgium, Holland and Luxembourg signed in Paris a treaty which established the European Coal and Steel Community, the ECSC was born. The most important feature of the ECSC was its supranational character, it was a supranational organization. It was aptly described as a 'quasi federation in an important economic sector.1 The Community was endowed with five organs; . An executive, called the High Authority 2. A Consultative Committee attached to the High Authority 3. A Special Council of Ministers 4. An Assembly 5. A Court of Justice Under the ECSC Treaty the European Parliament had a modest role of supervising the High Authority. The original designation 'Assembly' reflected its lowly status and the French influence2 In order to enhance its prestige the Assembly adopted the title 'European Parliamentary Assembly,3 and then renamed itself 'European Parliament'4. Although this designation was used in its working papers and the Council documents, the original title was used until it was replaced by the Single European Act5 The European Parliament: The ECSC assembly met for the first time in Strasbourg in 1952. Five years later, the six member countries signed the Treaty of Rome to create the European Economic
Critically analyse the role of NATO in post-Cold war Europe, with special emphasis of the significance of the two rounds of enlargement, including the similarities and differences between them.
Critically analyse the role of NATO in post-Cold war Europe, with special emphasis of the significance of the two rounds of enlargement, including the similarities and differences between them. New World Order? New NATO? It is essential that NATO adjusted itself to new IR realm, where a tiny spark can ignite a global conflict. Therefore it is a global alliance that NATO should become to prolong its existence for next 50 years. To adjust its efficiency, it must enlarge. Four years after accepting new members - Hungary, Czech and Poland - NATO is on a crossroads. There are voices to be heard, louder and louder, that NATO is in crisis and its future seems uncertain. Contrary to what it may seem, it is not a question of internal dispute within the Alliance. During fifty years NATO's existence similar disputes happened quite often. But then, clear framework of Washington Treaty and a common (Soviet) threat were enough of a cure to heal most of them. Now its is different. It is not merely an incidental problem - it has come to question its existence, question the identity and future shape. Warsaw Pact seized to exist, Soviet Union has gone with the wind, communism is no longer a threat to Western Europe, German state is united and democratised. With NATO born in different world, is it still needed? Definitely a 'be or not to be question'... Unfortunately for political alliances,
Organisations compatition and the environment - The European Context.
HNC BUSINESS ORGANISATIONS COMPETITION AND THE ENVIRONMENT ASSIGNMENT NUMBER: 2. TITLE: THE EUROPEAN CONTEXT PRODUCED BY AMY JACKSON FOR JACKIE SHAW .CONTENTS PAGE . CONTENTS PAGE 2. INTRODUCTION 3. SECTION 1 - INVESTIGATING THE KEY FEATURES OF THE LOCAL AND NATIONAL ECONOMY IN WHICH ORGANISATIONS OPERATE 3.1 THE ROLE OF THE STATE IN BUSINESS ORGANISATIONS, AND THE IMPLICATIONS FOR BUSINESSES OF THE MEASURES TAKEN BY GOVERNMENT TO CONTROL THE ECONOMY. 3.2 HOW HAS THE DECISION TO ALLOW EXPANSION OF MANCHESTER AIRPORT IMPACTED ON THE LOCAL ECONOMY AND THE IMPLICATIONS FOR TD TRAVEL GROUP? = 4. SECTION 2 - EXPLORING THE SIGNIFICANCE OF THE EUROPEAN DIMENSION FOR UK BASED ORGANISATIONS 4.1 THE TYPES OF EUROPEAN UNION POLICY DECISIONS WHICH HAVE IMPACTED ON BUSINESSES IN MEMBER STATES, AND HOW BUSINESSES HAVE BEEN AFFECTED. 4.2 ARGUMENTS FOR AND AGAINST THE UK JOINING THE EUROPEAN MONETARY UNION AND THE IMPLICATIONS FOR TD TRAVEL GROUP. 4.3 THE EFFECTS ON UK BUSINESSES IF THE EUROPEAN UNION WERE TO EXPAND. 5. CONCLUSION 6. BIBLIOGRAPHY 7. APPENDIX 2. INTRODUCTION The following report is designed to outline the impact of the UK government and the European Union on the operation of businesses in the UK. The report will concentrate on TD Travel Group as a UK business. TD Travel Group is an independent corporate travel organisation that takes the frustration
Road freight transport - Paying its way?
ROAD FREIGHT TRANSPORT - PAYING ITS WAY ? The taxation for heavy goods freight vehicles should reflect the damage they cause to the infrastructure and environment ; the logistics industry owes that at least to society. - Introduction - - I - How logistics industry cause damage - Infrastructure - Environmental costs - Congestion - Accident externalities - II - How to tax HGV - Directly on the vehicle - Charges more directly linked to the road use - Other charges and Fuel based - III - How HGV are currently taxed in Europe - Eurovignette countries - Countries with tolls on specific roads - Countries with no direct road charging at all - Conclusion - ROAD FREIGHT TRANSPORT - PAYING ITS WAY ? - Introduction - According to a British government report (BBC News 2000), one Heavy Good Vehicle (HGV) is estimated to generate £25,000 per year in taxes, but the problem is that the same vehicle can do £28,000 of damage every year. Indeed, in its current consultation paper on Modernising the Taxation of the Haulage Industry(*), the British Government states as one of its objectives that road users should contribute towards the true costs that they impose on society (CfTI 2001). Many specialists argue that a lorry causes much more damage than lighter vehicles, some claim that a HGV causes as many damage as 30 000 private cars, and other that a 40-tonne freight
What is the history of the EU?
What is the history of the EU? The Treaty of Rome of 25 March 1957, which established the EEC, set up institutions and decision-making mechanisms through which both national interests and a Community view could find their expression. From that time onwards, the European Community was the major axis round which the movement for a united Europe turned. Between 1958 and 1970, the abolition of customs duties had spectacular effects: trade within the Community increased six fold while EEC trade with the rest of the world went up by a factor of three. Average gross national product in the EEC over the same period went up by 70%. Following the pattern set by the major markets operating on a continental scale, such as that of the United States, economic interests in Europe took advantage of the invigorating effects of opening up Europe's frontiers. Consumers became used to seeing an ever-increasing variety of imported goods in the shops. The European dimension had become a reality. The signing of the Single Act in 1986 meant that Europe was able to sweep away the other regulatory and fiscal restrictions which were still delaying the establishment of a genuine, completely unified internal market. On 28 November 1995, the 15 European Union countries and 12 countries with seaboards on the southern Mediterranean established a partnership which should eventually lead to the setting up
