The Breakup of the Eurozone is inevitable within the next five years Essay

The Breakup of the Eurozone is inevitable within the next five years. Discuss - Essay Example Countries in the Euro zone are restrained from pursuing their self- interest by mutually respecting each other’s sovereignty and independence rights. However, Euro zone must adhered to EMU operating principles. Good governance must be practice at all transactions to avoid future crisis2. January 1, 1999 saw the official launch of the Economic and Monitory Union (EMU). On that day, eleven European countries joined the EMU and five more followed suit years later. Now, EMU is comprised of sixteen member European countries. The first to join were Austria, Belgium, Germany, France, Ireland, Italy, Finland, the Netherlands, Portugal, Luxembourg, and Spain. Greece followed in 2001, then Slovenia in 2007 while Cyprus and Malta joined in 2008. The last to join was Slovakia in 2009. EMU countries adopted Euro as a single currency for transaction purposes. The chief reasons that lead to EMU were mainly to stabilize prices, macroeconomic environment, banking system, financial markets as well as increase trade competitiveness and boost flexibility in the member countries3. Before and after the official launch, different people had different views concerning the sustainability of the Euro Zone especially on areas of viability and desirability. Supporters of EMU claimed that commo n currency has the potential to improve trade, attract more foreign direct investment, stabilize wages and enhance business strategies of member countries. On the contrary, they are opponents who predict that Euro zone is heading for a disaster4. They pegged their arguments on the premise that countries in the Euro Zone are diverse and put individual interest forward at the expense of the EMU. There are benefits and costs associated with Economic and Monitory Union. If costs are more than benefits, EMU may not survive in future and if vice versa, union will endure the test of time. The first advantage is that common currency reduces costs

Gear box Managment Essay Example | Topics and Well Written Essays - 4500 words

Gear box Managment - Essay Example Cars and tractors – in fact, almost every vehicle – have a gear box or transmission which allows the driver to shift from slow to fast or maintain speed. Management is very important in the life of the vehicle, so do with the proper handling of the gearbox. The life of the driver or owner also depends partly in its proper management. Accidents can be avoided with proper management, not to mention the financial savings accumulated. A power train is where the power from the engine goes to and maybe said to be synonymous to the power of the vehicle itself. The driver train is also everything after the power train, i.e. on a rear wheel drive, clutch, transmission, driveshaft, differential, and axle, on a front wheel drive. Another definition of power train is: it is a train of gears and shafting transmitting power from an engine, motor, etc., to a mechanism being driven.1 There are a lot of concepts on the words power train (in some sites in the internet these two words are written as one word). Some experienced drivers and mechanics state that on front wheel driver cars, the power train consist of the engine, transmission, rear end, which are made (read: assembled) together †¦ and on rear wheel driver, the engine, transmission, drive shaft and rear end †¦ if the car has a standard transmission, the power train would include the clutch.2 In other words the power train runs the vehicle – in this case, the car or the tractor – for purposes of our discussion. And when we speak of maintenance, this may involve a wide array of expertise and the mechanic/driver can not just focus on the gearbox but the entire connections relative to the power train, the different shafts, up to the differential. Maintenance here is overloaded and, to be precise, sensitive; meaning go to details, a simple crack, slight noise, anything you notice peculiar that may lead your car to be left