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Encyclopedia > Economy of Europe
Economy of Europe
During 2003 unless otherwise stated
Population: 710,000,000
GDP (PPP): US$ $12.82 trillion (2006)
GDP/capita (PPP) : $29,300
GDP /capita (Currency) : $30,937
Annual growth of
per capita GDP:
2.8% (2006)
Income of top 10%: 27.5%
Millionaires: 2.6 million (0.3%)
Unemployment 8.8% (2006)
Estimated female
income
56.7% of male
Most numbers are from the UNDP from 2002, some numbers exclude certain countries for lack of information. Statistics are for entire nations, not just the portions within Europe.
See also: Economy of the world - Economy of Africa - Economy of Asia - Economy of Europe - Economy of North America - Economy of Oceania - Economy of South America

The economy of Europe comprises more than 710 million people in 48 different states. Like other continents, the wealth of Europe's states varies, although the poorest are well above the poorest states of other continents in terms of GDP and living standards. The difference in wealth across Europe can be seen in a rough East-West divide. Whilst Western European states all have high GDPs and living standards, many of Eastern Europe's economies are still emerging from the collapse of the USSR and former Yugoslavia. Throughout this article "Europe" and derivatives of the word are taken to include selected states that are geographically in Asia, bordering Europe - such as Azerbaijan and Cyprus. There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ... The United States dollar is the official currency of the United States. ... This article includes two lists of countries of the world[1] sorted by their gross domestic product (GDP) at purchasing power parity (PPP) per capita, the value of all final goods and services produced within a nation in a given year divided by the average population for the same year. ... A millionaire is a person who has a net worth or wealth of more than one million United States dollars, euros, UK pounds or units of a comparably valued currency. ... This article does not cite any references or sources. ... Income, generally defined, is the money that is received as a result of the normal business activities of an individual or a business. ... The United Nations Development Programme (UNDP) is the largest multilateral source of grant technical assistance in the world. ... The world economy can be evaluated in various ways, depending on the model used, and this valuation can then be represented in various ways (for example, in 2006 US dollars). ... The economy of Africa consists of the trade, industry, and resources of the peoples of Africa. ... The economy of Asia comprises more than 4 billion people (60% of the world population), living in 46 different states. ... The economy of North America comprises more than 514 million people in 23 soverign states and 15 dependent territories. ... The economy of Oceania is comprised of more than. ... The economy of South America comprises about 500 million people living in 14 states and territories. ... For other uses, see Europe (disambiguation). ... A current understanding of Western Europe. ... Pre-1989 division between the West (grey) and Eastern Bloc (orange) superimposed on current national boundaries: Russia (dark orange), other countries of the former USSR (medium orange),members of the Warsaw pact (light orange), and other former Communist regimes not aligned with Moscow (lightest orange). ...


As a continent, Europe has the third largest economy in the world. Europe's largest national economy is that of Germany, which ranks third globally in nominal GDP, and fifth in purchasing power parity (PPP) GDP; and its second is that of the United Kingdom, which ranks fifth globally in nominal GDP and sixth in PPP GDP. The European Union is the world's largest (as determined by the IMF and the World Bank - 2005) or second largest economy (CIA World Factbook - 2006) if counted as a single unit -- see List of countries by GDP (PPP). PPP The purchasing power parity (PPP) theory was developed by Gustav Cassel in 1920. ... There are three lists of countries of the world sorted by their gross domestic product (GDP) (the value of all final goods and services produced within a nation in a given year). ...

Contents

Economic development

Main article: Economic history of Europe

Pre-1945: Industrial growth

Prior to World War II, Europe's major financial and industrial states were the United Kingdom, France, Germany and Italy. The Industrial Revolution, which began in Britain, had spread rapidly across Europe, and before long the entire continent was at a high level of industry. World War I had briefly led to the industries of some European states stalling, but in the run-up to World War II Europe had recovered well, and was competing with the ever increasing economic might of the United States of America. Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... A Watt steam engine, the steam engine that propelled the Industrial Revolution in Britain and the world. ... “The Great War ” redirects here. ... Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000...


However, World War II caused the destruction of most of Europe's industrial centres, and much of the continent's infrastructure was laid to waste. Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000...


1945-1990: The Cold War era

Following World War II, Europe's economy and infrastructure was in tatters. The vast majority of Eastern European states came under the control of the USSR in what became the Council for Mutual Economic Assistance (COMECON), and therefore a communist market-system (Yugoslavia also adopted this type of market-system but it was not USSR-controlled). Those states that retained free-markets were given large amounts of aid by the USA in order to help rebuild their state of economy (see Marshall Plan). Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... Pre-1989 division between the West (grey) and Eastern Bloc (orange) superimposed on current national boundaries: Russia (dark orange), other countries of the former USSR (medium orange),members of the Warsaw pact (light orange), and other former Communist regimes not aligned with Moscow (lightest orange). ... A Soviet poster reading COMECON: Unity of Goals, Unity of Action The Council for Mutual Economic Assistance (COMECON / Comecon / CMEA / CEMA), 1949 – 1991, was an economic organization of communist states and a kind of Eastern Bloc equivalent to—but more inclusive than—the European Economic Community. ... A free market is a market where the prices of goods and services is arranged completely by the mutual non-coerced consent of sellers and buyers, determined generally by the supply and demand law with no government interference in the regulation of costs, supply and demand. ... Map of Cold-War era Europe and the Near East showing countries that received Marshall Plan aid. ...


Many Western European governments moved to link their economies, laying the foundation for what would become the European Union. This meant a huge increase in shared infrastructure and cross-border trade. Whilst these Western European states rapidly improved their economies, by the 1980s, the economy of the COMECON was struggling, mainly due to the massive cost of the Cold War. The GDP and living standard of Eastern European states were also behind those of their Western neighbours. Even free-market Greece, situated in South-Eastern Europe, struggled due to geographical isolation from Western Europe. It has been suggested that Commerce be merged into this article or section. ... A Soviet poster reading COMECON: Unity of Goals, Unity of Action The Council for Mutual Economic Assistance (COMECON / Comecon / CMEA / CEMA), 1949 – 1991, was an economic organization of communist states and a kind of Eastern Bloc equivalent to—but more inclusive than—the European Economic Community. ... For other uses, see Cold War (disambiguation). ...


The European Community grew from 6 original members following World War II, to 12 in this period. The emphasis placed upon resurrecting West Germany's economy led to it overtaking the UK as Europe's largest economy.

European nations by GDP per capita in 2002. Numbers in USD and from the 123 1 1.html UNDP.
European nations by GDP per capita in 2002. Numbers in USD and from the 123 1 1.html UNDP.
Map showing regional variation in European GDP (PPP) per capita in 2006. Figures from [http://www.imf.org/external/pubs/ft/weo/2006/01/data/dbcoutm.cfm?SD=2007&ED=2004&R1=1&R2=1&CS=3&SS=2&OS=C&DD=0&OUT=1&C=946-137-122-181-124-138-964-182-423-935-128-936-961-939-184-172-132-134-174-144-944-178-136-112-941&S=PPPPC&CMP=0&x=55&y=9 International Monetary Fund
Map showing regional variation in European GDP (PPP) per capita in 2006. Figures from [http://www.imf.org/external/pubs/ft/weo/2006/01/data/dbcoutm.cfm?SD=2007&ED=2004&R1=1&R2=1&CS=3&SS=2&OS=C&DD=0&OUT=1&C=946-137-122-181-124-138-964-182-423-935-128-936-961-939-184-172-132-134-174-144-944-178-136-112-941&S=PPPPC&CMP=0&x=55&y=9 International Monetary Fund

Modified version of Image:Western Europe File links The following pages link to this file: Economy of Europe Categories: GFDL images ... Modified version of Image:Western Europe File links The following pages link to this file: Economy of Europe Categories: GFDL images ... Wikipedia does not have an article with this exact name. ... Wikipedia does not have an article with this exact name. ...

The rise of the EU

When communism collapsed in Eastern Europe and the USSR around 1991, these states struggled to adapt to free-market systems. There was, however, a huge variation in degrees of success, with Central European states such as Hungary, Slovenia, Romania and Poland adapting reasonably quickly, whilst post-Soviet states such as Russia and Ukraine struggled to reform their crumbling infrastructures. Central Europe The Alpine Countries and the Visegrád Group (Political map, 2004) Central Europe is the region lying between the variously and vaguely defined areas of Eastern and Western Europe. ...


Western Europe was quick to develop economic ties with the newly democratic East. While the former Soviet states dealt with change, Yugoslavia descended into civil war.


Europe's largest economy, Germany, struggled upon unification in 1991 with former communist East Germany. The Russian controlled Eastern part of the country had had much of its industrial infrastructure removed during the cold war, and for many years the West struggled to build the East up to an equal level. This article is about the state which existed from 1949 to 1990. ...


Peace did not come to Yugoslavia for a decade, and by 2003, there were still many NATO and EU peacekeeping troops present in Bosnia-Herzegovina, Macedonia, and Kosovo. War severely hampered economic growth, with only Slovenia making any real progress in the 1990s. This article is about the military alliance. ... Bosnia and Herzegovina (also variously written Bosnia-Herzegovina, Bosnia and Hercegovina, Bosnia-Hercegovina) is a mountainous country in the western Balkans. ... For other uses, see Kosovo (disambiguation). ...


The economy of Europe was by this time dominated by the EU, a huge economic and political organization with 15 of Europe's states as full members. EU membership was seen as something to aspire to, and the EU gave significant support and aid to those Central and Eastern European states wishing to work towards achieving economies that met the entry criteria. During this time, 12 of the 15 members of the EU became part of the Eurozone, a currency union launched in 1999, whereby each member uses a shared currency, the Euro, which replaced their former national currencies. Three states chose to remain outside the Eurozone and continue with their own currencies, namely Denmark, Sweden and the United Kingdom. The Eurozone (also called Euro Area, Eurosystem or Euroland) refers to the European Union member states that have adopted the euro currency union. ... In economics, a monetary union is a situation where several countries have agreed to share a single currency among them, for example, the East Caribbean Dollar. ... For other uses, see Euro (disambiguation). ...


2004-2007: EU expansion

In early 2004, 10 mostly former communist states joined the EU in its biggest ever expansion, enlarging the union to 25 members, with another eight making associated trade agreements. The acceding countries are bound to join the Eurozone and adopt the common currency Euro in the future. The process includes the European Exchange Rate Mechanism, of which some of these countries are already part. The European Union (EU) was created by six founding states in 1957 (following the earlier establishment by the same six states of the European Coal and Steel Community in 1952) and has grown to 27 member states. ...  Eurozone countries  ERM II countries  other EU countries  unilaterally adopted euro The European Exchange Rate Mechanism, ERM, was a system introduced by the European Community in March 1979, as part of the European Monetary System (EMS), to reduce exchange rate variability and achieve monetary stability in Europe, in preparation for...


Most European economies are in very good shape, and the continental economy reflects this. Conflict and unrest in some of the former Yugoslavia states and in the Caucasus states are hampering economic growth in those states, however. It has been suggested that this article or section be merged with Caucasus Mountains. ...


In response to the massive EU growth, in 2005 the Russian dominated Commonwealth of Independent States (CIS) created a rival trade bloc to the EU, open to any previous USSR state, (including both the European and Asian states). 12 of the 15 signed up, with the three Baltic states deciding to align themselves with the EU. Despite, this the three Caucasus states have said in the past they would one day consider applying for EU membership, particularly Georgia.  Member state  Associate member Headquarters Minsk, Belarus Working language Russian Type Commonwealth Membership 11 member states 1 associate member Leaders  -  Executive Secretary Viktor Yanukovych Establishment December 21, 1991 Website http://cis. ... The three Baltic states: Estonia, Latvia, and Lithuania. ...


Regional variation

West Europe, with a long history of trade, a free market system, and a high level of development in the previous century, has been wealthier and more stable than the East, even though the gap is converging due to higher growth rates in the East.


The poorest states are those that just emerged from communism and civil wars, namely those of the former Soviet Union and Yugoslavia not including Slovenia and Croatia. Communism is an ideology that seeks to establish a classless, stateless social organization based on common ownership of the means of production. ... A civil war is a war in which parties within the same culture, society or nationality fight against each other for the control of political power. ... Yugoslavia (Jugoslavija in the Latin alphabet, Југославија in Cyrillic; English: South Slavia, or literary The Land of South Slavs) describes three political entities that existed one at a time on the Balkan Peninsula in Europe, during most of the 20th century. ...


Trade blocs

In general European nations are members of larger and more powerful trade blocs than anywhere in the world[citation needed]. Many credit this with Europe's reduced gap between the rich and poor[citation needed]. However, the rigidity of the European labour market has also been blamed for the higher unemployment and slower growth than North America[citation needed]. A trade bloc is a large free trade area or free trade area formed by one or more tax, tariff and trade agreements. ... This article does not cite any references or sources. ...


European Union

The European Union or EU is a supranational union of 27 European states, the most recent acceding members being Romania and Bulgaria, who became full members in January 1, 2007. It has many activities, the most important being a common single market, consisting of a customs union, a single currency (adopted by 13 of the 27 member states), a Common Agricultural Policy and a Common Fisheries Policy. The European Union also has various initiatives to co-ordinate activities of the member states. A supranational union, sometimes called also a supranational state, is a group of countries that has: some of the traits of a regional international organization and some of the traits of a federal state, In other words, it is a hybrid or transitional institution. ... is the 1st day of the year in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... For other uses, see Euro (disambiguation). ... The Common Agricultural Policy (CAP) is a system of European Union agricultural subsidies and programmes. ...


The European Union has the largest economy in the world. The EU economy is expected to grow further over the next decade as more countries join the union - especially considering that the new States are usually poorer than the EU average, and hence the expected fast GDP growth will help achieve the dynamic of the united Europe. It is estimated that the Eurozone will grow around 2.6 per cent this year (2006) [1], on a par with other industrialized nations such as the United States at 2.6% (Q2 2006) and 1.6 (Q3 2006) [2]. If it considered as a single state, the economy of the European Unions twenty-seven member states is currently the worlds second largest economy. ...


The union has evolved over time from a primarily economic union to an increasingly political one. This trend is highlighted by the increasing number of policy areas that fall within EU competence: political power has tended to shift upwards from the Member States to the EU.


European Free Trade Association

The European Free Trade Association (EFTA) was established on 3 May 1960 as an alternative for European states that did not wish to join the European Union, creating a trade bloc with fewer central powers. The European Free Trade Association (EFTA) was established on May 3, 1960 as an alternative for European states that were not allowed or did not wish to join the European Community (now the European Union). ... A trade bloc is a large free trade area or free trade area formed by one or more tax, tariff and trade agreements. ...


Today only Iceland, Norway, Switzerland and Liechtenstein remain members of EFTA, as the other members have gradually left to join the EU.


European Economic Area

The European Economic Area (EEA) came into being on 1st January 1994 following an agreement between the European Free Trade Association (EFTA) and the European Union (EU). It was designed to enable EFTA countries to participate in the European Single Market without having to join the EU.  EFTA countries (except Switzerland)  EU countries Together these form the EEA. The European Economic Area (EEA) came into being on January 1, 1994 following an agreement between the European Free Trade Association (EFTA) and the European Union (EU). ... A single market is a customs union with common policies on product regulation, and freedom of movement of all the four factors of production (land, enterprise, capital and labour). ...


In a referendum, Switzerland (ever keen on neutrality) chose not to participate in the EEA (although it is linked to the European Union by bilateral agreements similar in content to the EEA agreement), so the current members are the EU states plus Norway, Iceland and Liechtenstein.


A Joint Committee consisting of the non EU members plus the European Commission (representing the EU) has the function of extending relevant EU Law to the non EU members. Berlaymont, the Commissions seat The European Commission (formally the Commission of the European Communities) is the executive branch of the European Union. ...


Commonwealth of Independent States

The Commonwealth of Independent States (CIS) is a confederation consisting of 12 of the 15 states of the former Soviet Union, (the exceptions being the three Baltic states). Although the CIS has few supranational powers, it is more than a purely symbolic organization and possesses co-ordinating powers in the realm of trade, finance, lawmaking and security. The most significant issue for the CIS is the establishment of a full-fledged free trade zone / economic union between the member states, to be launched in 2005. It has also promoted co-operation on democratization and cross-border crime prevention.  Member state  Associate member Headquarters Minsk, Belarus Working language Russian Type Commonwealth Membership 11 member states 1 associate member Leaders  -  Executive Secretary Viktor Yanukovych Establishment December 21, 1991 Website http://cis. ... A confederation is an association of sovereign states or communities, usually created by treaty but often later adopting a common constitution. ... The three Baltic states: Estonia, Latvia, and Lithuania. ...


Central European Free Trade Agreement

The Central European Free Trade Agreement (CEFTA) is a trade bloc of former Communist countries in central and eastern Europe. The countries that participated and the few that continue to participate in CEFTA have used this form of integration to help them prepare for full membership in the European Union. Map of Europe indicating current CEFTA members Type Trade agreement Member states 7 Balkan states, Kosovo Establishment  -  Signed 21 December 1992  Area  -  Total 298. ... A trade bloc is a large free trade area or free trade area formed by one or more tax, tariff and trade agreements. ...


Currency and Central Banks

The most common currency within Europe is the euro, the currency of the European Union. To join, each new EU member must meet certain criteria, when these are met their own currencies will be replaced by the euro. Becoming a member of the EU involves a pledge to work towards Eurozone membership, (except in the cases of the United Kingdom and Denmark who have opt-outs). Currently, 13 of the 27 EU member states use the euro. Each EU member's central bank is part of the European System of Central Banks, and in addition, those that use the euro are part of the European Union's central bank, the European Central Bank. For other uses, see Euro (disambiguation). ... The Eurozone (also called Euro Area, Eurosystem or Euroland) refers to the European Union member states that have adopted the euro currency union. ... The European System of Central Banks (ESCB) is composed of the European Central Bank (ECB) and the national central banks (NCBs) of all 25 EU Member States. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ...


There are some non-EU members who have elected to use the euro as their national currency, either with or without specific agreements with the EU to do so, (those with agreements with the EU may mint their own euro coins). The French overseas territories and departments of Mayotte and Réunion in the Indian Ocean, Guadeloupe and Martinique in the Caribbean and French Guiana in South America all use the euro, among many other islands in the Pacific, Caribbean and indeed around the globe that are ruled directly by European countries. The euro (EUR or €) is the currency of 13 European Union (EU) member states (Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, and Spain), three European microstates which have currency agreements with the EU (Monaco, San Marino and the Vatican City State), Andorra, Montenegro and the...


Some countries while maintaining their own national currency have pegged its value to the euro. In some of these countries, there is a fixed exchange rate between the national currency and the euro and in this case the currency is actually a submultiple of the euro. In other countries, the national currency's value fluctuates within a band (generally 15%) around a set rate. Currencies pegged to the euro include the currencies of Bulgaria, Estonia, Latvia, Lithuania, Bosnia and Herzegovina and Cape Verde. Denmark, Cyprus, Malta and Slovakia have a foreign exchange band tied to the euro.


The CIS is also planning to introduce a single currency among its members.


Below is a list of the central banks and currencies of Europe, with exchange rates between each currency and both the euro and US dollars as of 17th November 2004.

Country Currency Value in Euro Value in USD Central Bank
Flag of Albania Albania Lek 0.008 0.01 Bank of Albania
Flag of Andorra Andorra Euro - 1.5 (none de jure) / ECB de facto
Flag of Armenia Armenia Dram 0.002 0.002 Central Bank of Armenia
Flag of Austria Austria Euro - 1.5 Oesterreichische Nationalbank / ECB
Flag of Azerbaijan Azerbaijan Manat 0.0002 0.0002 National Bank of Azerbaijan
Flag of Belarus Belarus Belarusian Ruble 0.0004 0.0005 National Bank of the Republic of Belarus
Flag of Belgium Belgium Euro - 1.5 National Bank of Belgium / ECB
Flag of Bosnia and Herzegovina Bosnia and Herzegovina Mark 0.5 0.7 Central Bank of Bosnia and Herzegovina
Flag of Bulgaria Bulgaria Lev 0.5 0.7 Bulgarian National Bank
Flag of Croatia Croatia Kuna 0.15 0.2 Croatian National Bank
Flag of Cyprus Cyprus Cyprus Pound 1.7 2.3 Central Bank of Cyprus
Flag of the Czech Republic Czech Republic Czech Koruna 0.03 0.04 Czech National Bank
Flag of Denmark Denmark Danish Krone 0.1 0.2 Danmarks Nationalbank
Flag of Estonia Estonia Kroon 0.06 0.08 Bank of Estonia
Flag of Finland Finland Euro - 1.5 Bank of Finland / ECB
Flag of France France Euro - 1.5 Banque de France / ECB
Flag of Georgia (country) Georgia Lari 0.4 0.5 National Bank of Georgia
Flag of Germany Germany Euro - 1.5 Deutsche Bundesbank / ECB
Flag of Greece Greece Euro - 1.5 Bank of Greece / ECB
Flag of Hungary Hungary Forint 0.004 0.005 Hungarian National Bank
Flag of Iceland Iceland Icelandic Krona 0.01 0.02 Central Bank of Iceland
Flag of Ireland Ireland Euro - 1.5 Central Bank and Financial Services Authority of Ireland / ECB
Flag of Italy Italy Euro - 1.5 Banca d'Italia / ECB
Flag of Latvia Latvia Lats 1.5 1.9 Bank of Latvia
Flag of Liechtenstein Liechtenstein Swiss Franc 0.7 0.9 (none de jure) / Swiss National Bank de facto
Flag of Lithuania Lithuania Litas 0.29 0.35 Lietuvos Bankas
Flag of Luxembourg Luxembourg Euro - 1.5 Banque Centrale du Luxembourg / ECB
Flag of the Republic of Macedonia Republic of Macedonia Macedonian Denar 0.02 0.02 National Bank of the Republic of Macedonia
Flag of Malta Malta Maltese Lira 2.3 3.1 Central Bank of Malta
Flag of Moldova Moldova Moldovan Leu 0.06 0.08 National Bank of Moldova
Flag of Monaco Monaco Euro - 1.5 (none de jure) / ECB de facto
Flag of Montenegro Montenegro Euro - 1.5 Central Bank of Montenegro(de jure) / ECB de facto
Flag of the Netherlands Netherlands Euro - 1.5 De Nederlandsche Bank / ECB
Flag of Norway Norway Norwegian Krone 0.1 0.2 Norges Bank
Flag of Poland Poland Zloty 0.26 0.35 National Bank of Poland
Flag of Portugal Portugal Euro - 1.5 Banco de Portugal / ECB
Flag of Romania Romania Romanian leu 0.29 0.35 National Bank of Romania
Flag of Russia Russia Russian Ruble 0.03 0.03 Central Bank of Russia
Flag of San Marino San Marino Euro - 1.5 Banca Centralle Della Republica Di San Marino[3] de jure / ECB de facto
Flag of Serbia Serbia1 Serbian Dinar 0.01 0.02 National Bank of Serbia
Flag of Slovakia Slovakia Slovak Koruna 0.03 0.03 National Bank of Slovakia
Flag of Slovenia Slovenia Euro - 1.5 Banka Slovenije / ECB
Flag of Spain Spain Euro - 1.5 Banco de España / ECB
Flag of Sweden Sweden Swedish Krona 0.1 0.2 Sveriges Riksbank
Flag of Switzerland Switzerland Swiss Franc 0.7 0.9 Swiss National Bank
Flag of Turkey Turkey New Turkish Lira 0.5 0.7 Türkiye Cumhuriyeti Merkez Bankası
Flag of Ukraine Ukraine Hryvnia 0.2 0.2 National Bank of Ukraine
Flag of the United Kingdom United Kingdom Pound Sterling 1.5 2.0 Bank of England
Flag of the Vatican City Vatican City Euro - 1.5 Vatican Bank de jure/ ECB de facto

1 Whilst most of Serbia uses the Dinar, the Euro is the official currency in the autonomous Kosovo region and is the currency primarily used. Image File history File links Flag_of_Albania. ... Lek is the currency used in Albania. ... (Banka e Shqipërisë in Albanian) is the Central Bank of Albania. ... Image File history File links Flag_of_Andorra. ... For other uses, see Euro (disambiguation). ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Armenia. ... ISO 4217 Code AMD User(s) Armenia and the self proclaimed Nagorno Karabakh Republic Inflation -0. ... The Central Bank of Armenia is a bank based in Yerevan. ... Image File history File links Flag_of_Austria. ... For other uses, see Euro (disambiguation). ... The Oesterreichische Nationalbank (OeNB) is the central bank of the Republic of Austria and, as such, an integral part of both the European System of Central Banks (ESCB) and the Eurozone. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Azerbaijan. ... ISO 4217 Code AZN User(s) Azerbaijan except Nagorno-Karabakh Inflation 11. ... The National Bank of Azerbaijan (NBA) is the central bank of Azerbaijan. ... Image File history File links Flag_of_Belarus. ... Belarusian ruble (ISO-code BYR, before 2000 - BYB) is the official currency of Belarus. ... The National Bank of the Republic of Belarus (Russian: ) is the central bank of Belarus, located in the capital city, Minsk. ... Image File history File links Flag_of_Belgium_(civil). ... For other uses, see Euro (disambiguation). ... The National Bank of Belgium (Nationale Bank van België in Dutch, Banque nationale de Belgique in French, and Belgischen Nationalbank in German) has been the central bank of Belgium since 1850. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Bosnia_and_Herzegovina. ... ISO 4217 Code BAM User(s) Bosnia and Herzegovina Inflation 8. ... The Central Bank of Bosnia and Herzegovina is the central bank of Bosnia and Herzegovina, located in the capital city, Sarajevo. ... Image File history File links Flag_of_Bulgaria. ... ISO 4217 Code BGN User(s) Bulgaria Inflation 7. ... central bank of the Republic of Bulgaria and one of the oldest central banks in the world, established on 25 January 1879. ... Image File history File links Flag_of_Croatia. ... “HRK” redirects here. ... The Croatian National Bank (or HNB for Croatian Hrvatska Narodna Banka) is the central bank of the Republic of Croatia. ... Image File history File links Flag_of_Cyprus. ... ISO 4217 Code CYP User(s) Cyprus (except in the self-proclaimed Turkish Republic of Northern Cyprus), Akrotiri and Dhekelia Inflation 2. ... The Central Bank of Cyprus (Greek: Kεντρικη Τραπεζα της Κυπρου, Turkish: Kıbrıs Merkez Bankasi) is the central bank of the Republic of Cyprus, located in Nicosia. ... Image File history File links Flag_of_the_Czech_Republic. ... ISO 4217 Code CZK User(s) Czech Republic Inflation 1. ... Czech National Bank (official name in Czech language: Česká národní banka, abbreviated ČNB) is central bank of the Czech Republic. ... Image File history File links Flag_of_Denmark. ... ISO 4217 Code DKK User(s) Denmark, Greenland, Faroe Islands 1 Inflation 1. ... Danmarks Nationalbank (English: National Bank of Denmark - in Danish often simply Nationalbanken) is the central bank of Denmark. ... Image File history File links Flag_of_Estonia. ... ISO 4217 Code EEK User(s) Estonia Inflation 4. ... The Bank of Estonia (Estonian: Eesti Pank), is the central bank of Estonia. ... Image File history File links Flag_of_Finland. ... For other uses, see Euro (disambiguation). ... The Bank of Finland, Helsinki, with the statue of Johan Vilhelm Snellman in front. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links This is a lossless scalable vector image. ... For other uses, see Euro (disambiguation). ... One of the Banque de Frances offices in Paris. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Georgia. ... Georgian 1 lari Georgian 2 lari Georgian 5 lari Georgian 10 lari Georgian 50 lari Georgian 100 lari The lari (Georgian: ლარი ; ISO 4217:GEL) is the national currency of Georgia. ... National Bank of Georgia ... Image File history File links Flag_of_Germany. ... For other uses, see Euro (disambiguation). ... The Deutsche Bundesbank (German Federal Bank) is the central bank of Germany and a part of the European System of Central Banks. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Greece. ... For other uses, see Euro (disambiguation). ... Not to be confused with the National Bank of Greece. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Hungary. ... ISO 4217 Code HUF User(s) Hungary Inflation 8. ... The Hungarian National Bank (in Hungarian: Magyar Nemzeti Bank) is the central bank of Hungary. ... Image File history File links Flag_of_Iceland. ... Króna (plural krónur) is the name of the currency used in Iceland. ... Seðlabanki Íslands (Central Bank of Iceland in Icelandic) is the central bank of Iceland. ... Image File history File links Flag_of_Ireland. ... For other uses, see Euro (disambiguation). ... Banc Ceannais na hÉireann or the Central Bank of Ireland is the Republic of Ireland which had control of the issue of Irish banknotes and coins. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Italy. ... For other uses, see Euro (disambiguation). ... Headquarters Rome Established 1893 Governor Mario Draghi Central Bank of Italy Website bancaditalia. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Latvia. ... The 5 lats coin, used before WWII, becamed a popular symbol of independence during the Soviet era The lats (in Latvian: lats, plural lati, the ISO 4217 currency code: LVL) is the official currency of Latvia. ... The Bank of Latvia (Latvijas Banka) is the central bank of Latvia. ... Image File history File links Flag_of_Liechtenstein. ... ISO 4217 Code CHF User(s) Switzerland, Liechtenstein, Campione dItalia Inflation 1. ... The Swiss National Bank is a central bank and responsible for the monetary policy of Switzerland. ... Image File history File links Flag_of_Lithuania. ... The litas (ISO currency code LTL, symbolized as Lt; plural litai or litų) is the official currency of Lithuania. ... The Bank of Lithuania is the central bank of the Republic of Lithuania. ... Image File history File links Flag_of_Luxembourg. ... For other uses, see Euro (disambiguation). ... Banque Centrale du Luxembourg (BCL, Central Bank of Luxemburg) is the central bank of the Luxemburg. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Macedonia. ... For an explanation of terms related to Macedonia, see Macedonia (terminology). ... ISO 4217 Code MKD User(s) Republic of Macedonia Inflation rate 0% Source The World Factbook, 2005 est. ... The National Bank of the Republic of Macedonia is the central bank of the FYR Macedonia, located in the capital city, Skopje. ... Image File history File links Flag_of_Malta. ... The Maltese lira, known in the Maltese language as the Lira Maltija, is the currency of Malta. ... The Central Bank of Malta was established on 17 April 1968. ... Image File history File links Flag_of_Moldova. ... 1 Moldovan leu note, obverse and reverse The leu (ISO 4217 code MDL) is the national currency of Moldova. ... National Bank of Moldova is the Central Bank of the Republic of Moldova. ... Image File history File links Flag_of_Monaco. ... For other uses, see Euro (disambiguation). ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Montenegro. ... This article is about the country in Europe. ... For other uses, see Euro (disambiguation). ... The mission of the Central Bank of Montenegro is to establish and maintain sound banking system and monetary policy. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_the_Netherlands. ... For other uses, see Euro (disambiguation). ... De Nederlandsche Bank (DNB, The Dutch Bank) is the central bank of the Netherlands. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Norway. ... ISO 4217 Code NOK User(s) Norway Inflation 2. ... Norges bank is the central bank of Norway. ... Image File history File links Flag_of_Poland. ... ISO 4217 Code PLN User(s) Poland Inflation 2. ... The National Bank of Poland (Narodowy Bank Polski in Polish), is the central bank of Poland. ... Image File history File links Flag_of_Portugal. ... For other uses, see Euro (disambiguation). ... The Banco de Portugal is the central bank of the Republic of Portugal. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Romania. ... For the Moldovan currency, see Moldovan leu. ... Categories: Romania-related stubs | Romanian economy | Central banks ... Image File history File links Flag_of_Russia. ... ISO 4217 Code RUB User(s) Russia and self-proclaimed Abkhazia and South Ossetia Inflation 7% Source Rosstat, 2007 Subunit 1/100 kopek (копейка) Symbol руб kopek (копейка) к Plural The language(s) of this currency is of the Slavic languages. ... Bank of Russia (Russian:Банк России) or The Central Bank of the Russian Federation (Russian: Центральный банк Российской Ф&#1077... Image File history File links Flag_of_San_Marino. ... For other uses, see Euro (disambiguation). ... The Central Bank of San Marino, (Italian Banca Centralle Della Republica Di San Marino), is the central bank of San Marino. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Serbia. ... Not to be confused with Republika Srpska. ... ISO 4217 Code RSD User(s) Serbia (including parts of Kosovo) Inflation 6. ... National bank of Serbia (NBS) was founded in 1884. ... Image File history File links Flag_of_Slovakia. ... ISO 4217 Code SKK User(s) Slovakia Inflation 2. ... NBS Office Tower in Bratislava National Bank of Slovakia (Slovak: Národná banka Slovenska, abbr. ... Image File history File links Flag_of_Slovenia. ... For other uses, see Euro (disambiguation). ... The Bank of Slovenia (Banka Slovenije in Slovenian) is the bank of issue and the central bank of the Republic of Slovenia. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Spain. ... For other uses, see Euro (disambiguation). ... The Banco de España (Bank of Spain) is the national central bank of Spain. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... Image File history File links Flag_of_Sweden. ... ISO 4217 Code SEK User(s) Sweden Inflation 2. ... Sveriges Riksbank (Swedish National Bank) is the central bank of Sweden, sometimes called just the Bank of Sweden. ... Image File history File links Flag_of_Switzerland. ... ISO 4217 Code CHF User(s) Switzerland, Liechtenstein, Campione dItalia Inflation 1. ... The Swiss National Bank is a central bank and responsible for the monetary policy of Switzerland. ... Image File history File links Flag_of_Turkey. ... TRY banknotes and coins The Turkish new lira is the current currency of Turkey and of the de facto state Turkish Republic of Northern Cyprus. ... Central Bank of the Republic of Turkey // History The Ottoman Period In the Ottoman Empire, the Treasury operations, money and credit transactions and the trade in gold and foreign currencies were executed in varying degrees by the Treasury, the Mint, jewelers, money lenders, foundations and guilds. ... Image File history File links Flag_of_Ukraine. ... ISO 4217 Code UAH User(s) Ukraine Inflation 11. ... The National Bank of Ukraine is the central bank of the country. ... Image File history File links Flag_of_the_United_Kingdom. ... “GBP” redirects here. ... Headquarters Coordinates , , Governor Mervyn King Central Bank of United Kingdom Currency Pound sterling ISO 4217 Code GBP Base borrowing rate 5. ... Image File history File links Flag_of_the_Vatican_City. ... For other uses, see Euro (disambiguation). ... The Vatican Bank is a common name given to the Istituto per le Opere di Religione (IOR) or Institute for Religious Works, the central bank for the Roman Catholic Church located in Vatican City. ... Headquarters Coordinates , , Established 1 January 1998 President Jean-Claude Trichet Central Bank of Austria, Belgium, France, Finland, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, Spain Currency Euro ISO 4217 Code EUR Reserves €43bn directly, €338bn through the Eurosystem (including gold deposits). ... For other uses, see Kosovo (disambiguation). ...


Table correct as of 17th July 2005


Stock exchanges

15 out of the 20 nations with the highest nominal GDP per capita are in Europe.
15 out of the 20 nations with the highest nominal GDP per capita are in Europe.

There are many stock exchanges within Europe. Image File history File links This is a lossless scalable vector image. ... Image File history File links This is a lossless scalable vector image. ... This is a list of stock exchanges. ...

Euronext N.V. is a pan-European stock exchange based in Paris[1] and with subsidiaries in Belgium, France, Netherlands, Portugal and the United Kingdom. ... OMX AB is a Swedish-Finnish financial services company, formed in 2003 through a merger between OM AB and HEX plc. ... The Wiener Börse AG (also known as the Vienna Stock Exchange (WBAG)) is a stock exchange in Vienna, Austria and one of the most established exchanges in Eastern- and Southeastern Europe. ... Euronext N.V. is a pan-European stock exchange based in Paris[1] and with subsidiaries in Belgium, France, Netherlands, Portugal and the United Kingdom. ... The Sarajevo Stock Exchange or SASE (Croatian: Sarajevska burza, Serbian: Сарајевска берза) is a stock exchange which operates in Sarajevo, Bosnia and Herzegovina. ... The Banja Luka Stock Exchange or BLSE (Serbian Cyrillic: Бањалучка берза, Serbian Latin: Banjalučka berza) is a stock exchange which operates in Banja Luka in the Republic of Srpska, Bosnia and Herzegovina. ... The Bulgarian Stock Exchange - Sofia (Bulgarian: Българска фондова борса - София, Balgarska fondova borsa - Sofiya, abbreviated BSE) is a stock exchange operating in Sofia, the capital of Bulgaria. ... The Zagreb Stock Exchange or ZSE (Croatian: Zagrebačka burza) is a stock exchange which operates in Zagreb, Croatia. ... The Varaždin Stock Exchange or VSE (Croatian: Varaždinska burza) is a stock exchange which operates in Varaždin, Croatia. ... The Cyprus Stock Exchange or CSE (Greek: Χρηματιστήριο Αξιών Κύπρου or ΧΑΚ) is a stock exchange located in Nicosia, Cyprus. ... The Prague Stock Exchange or PSE (Czech: or BCPP) is the main securities market organiser in the Czech Republic and currently (as of September 2005) the second biggest stock exchange in Central and Eastern Europe. ... The Copenhagen Stock Exchange (CSE) is an international marketplace for Danish securities, including shares, bonds, Treasury bills and notes, and financial futures and options. ... The Tallinn Stock Exchange is a stock exchange operating in Tallinn, Estonia. ... Virðisbrævamarknaður Føroya (the Faroese Securities Market) was founded March 30, 2004. ... Kauphöll Íslands (also known as the Iceland Stock Exchange or ICEX) was established in 1985 as a joint venture of several banks and brokerage firms on the initiative of the Central Bank. ... For the numeral system, Hex, see Hexadecimal For Wikipedias help pages, see Help:Contents. ... Euronext Paris is Frances securities market, formerly known as the Paris Bourse, which merged with the Amsterdam and Brussels exchanges in September 2000 to form Euronext NV, which is the second largest exchange in Europe behind the London Stock Exchange. ... Price evolution of the CAC 40 between March 1, 1990 and February 1, French stock market index, a benchmark index for the Paris Bourse (stock exchange). ... Logo The Georgian Stock Exchange (Georgian: saqarTvelos safondo birJa) is the principal stock exchange in the country of Georgia. ... The Frankfurt Stock Exchange (outside) The DAX chart (inside) The Frankfurt Stock Exchange (German: FWB® Frankfurter Wertpapierbörse) is a stock exchange located in Frankfurt, Germany. ... Deutsche Börse Group LSE: DHE is a marketplace organizer for the trading of shares and other securities. ... DAX 30 chart in the Frankfurt Stock Exchange DAX 30 (Deutsche Aktien Xchange 30, former Deutscher Aktien-Index 30) is a Blue Chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange. ... The Athens Stock Exchange or ASE (Greek: Χρηματιστήριο Αξιών Αθηνών or ΧΑΑ) is a stock exchange located in Athens, Greece. ... The Budapest Stock Exchange is a relatively new stock exchange headquartered in Budapest, capital of Hungary. ... Kauphöll Íslands (also known as the Iceland Stock Exchange or ICEX) was established in 1985 as a joint venture of several banks and brokerage firms on the initiative of the Central Bank. ... The Irish Stock Exchange (ISE) is Irelands stock exchange and can trace its history to 1793. ... The Irish Stock Exchange (ISE) is Irelands stock exchange and can trace its history to 1793. ... The Borsa Italiana S.p. ... The Riga Stock Exchange is a stock exchange operating in Riga, Latvia. ... The Vilnius Stock Exchange (VSE) is a stock exchange operating in Vilnius, Lithuania. ... The Luxembourg Stock Exchange (French: ) is a stock exchange based in Luxembourg City, in southern Luxembourg. ... Logo The Malta Stock Exchange (Borza ta Malta in Maltese) is a small but active stock exchange based in Maltas Capital, Valletta. ... This article is about the country in Europe. ... Montenegro Stock Exchange Montenegro Stock Exchange is an Institution founded at 1993, so an embryo of the capital market of Montenegro was established. ... A bond from the Dutch East India Company, dating from 7 November 1623, for the amount of 2,400 florins The Amsterdam Stock Exchange is the former name for the stock exchange based in Amsterdam. ... Oslo Stock Exchange Oslo Stock Exchange (Norwegian: Oslo Børs) serves as the main market for trading in shares of Norwegian companies. ... Euronext Lisbon is a Portuguese stock exchange headquartered in Lisbon. ... Exchange Center, home of the WSE since 2000 Exchange Center entrance on Książęca Street Center of Banking and Finance, home of the WSE from 1991 to 2000. ... The Bucharest Stock Exchange (Bursa de Valori BucureÅŸti in Romanian) is a stock exchange in Bucharest, capital of Romania. ... Rasdaq was the name of the company that operated RASDAQ Market, one of the two Romanian exchanges at the time. ... The Moscow Interbank Currency Exchange (MICEX) is the largest, most liquid and best organized financial exchange operating in the Russian Federation. ... The Russian Trading System is a stock market established in 1995 in Moscow, consolidating various regional trading floors into one exchange. ... Not to be confused with Republika Srpska. ... Belgrade Stock Exchange (BELEX) (Beogradska Berza, a. ... Logo The Ljubljana Stock Exchange is the principal stock exchange in Slovenia. ... Bolsa de Madrid (Madrid Stock Exchange) is the largest and most international of Spains four regional stock exchanges in Barcelona, Bilbao, and Valencia that trade shares and convertable bonds and fixed-income securities, both government and private-sector debt. ... The Stockholm Stock Exchange is a stock exchange located in Stockholm, Sweden. ... SWX Swiss Exchange, Zurich SWX Swiss Exchange is Switzerlands stock exchange, based in Zürich. ... This page has been protected from editing to deal with vandalism. ... The Istanbul Stock Exchange (ISE) ( Turkish: Ä°stanbul Menkul Kıymetler Borsası, Ä°MKB) is the only corporation in Turkey for securities exchange established to provide trading in equities, bonds and bills, revenue-sharing certificates, private sector bonds, foreign securities and real estate certificates as well as international securities. ... The PFTS is the larger of Ukraines two main stock exchanges (the other being the USE). ... The Alternative Investment Market (AIM) is a sub-market of the London Stock Exchange, allowing smaller companies to float shares with a more flexible regulatory system than is applicable to the Main Market. ... The Source by Greyworld, in the new LSE building Paternoster Square. ... FTSE may stand for a number of things: FTSE 100 Index on the London Stock Exchange. ...

Economic sectors

Agriculture and fishing

Europe's agricultural sector is in general highly developed, especially in Western Europe. The process of making Eastern Europe's agriculture more Western is well underway and is helped by the accession of Eastern European states to the EU. The agricultural sector in Europe is helped by the Common Agricultural Policy (CAP), which provides farmers with a minimal price for their products and subsidizes their exports, which increases competitiveness for their products. This policy is highly controversial as it hampers free trade worldwide (protectionism sparks protectionism from other countries and trade blocs: the concept of trade wars) and is violating the concept of fair trade. This means because of the protectionist nature of the CAP, agricultural products from developing countries are rendered incompetitive in both Europe (an important export market for developing countries) and on their home markets (as European agricultural products are dumped on developing countries' markets with help from European agricultural subsidies). This controversy surrounds every system of agricultural subsidies (the United States' policy of subsidizing farmers is also controversial). The CAP is also controversial because 40% of the EU's budget is spent on it, and because of the overproduction caused by it. The Common Agricultural Policy (CAP) is a system of European Union agricultural subsidies and programmes. ... Free trade is an economic concept referring to the selling of products between countries without tariffs or other trade barriers. ... Protectionism is the economic policy of restraining trade between nations, through methods such as high tariffs on imported goods, restrictive quotas, a variety of restrictive government regulations designed to discourage imports, and anti-dumping laws in an attempt to protect domestic industries in a particular nation from foreign take-over... A trade war refers to two or more nations raising or creating tariffs or other trade barriers on each other in retaliation for other trade barriers. ...  High human development Medium human development Low human development Unavailable (colour-blind compliant map)   Developing countries not listed as least developed countries or as newly industrialized countries, in their respective articles. ... In economics, dumping can refer to any kind of predatory pricing, and is by most definitions a form of price discrimination. ... In economics, overproduction refers to excess supply of products being sold on the market. ...


The Common Fisheries Policy is surrounded by an extensive system of rules (mainly consisting of quotas) to protect the environment from overfishing. Despite these rules, the cod is becoming increasingly rare in the North Sea. Strict fishing rules are the main reason for Norway and Iceland to stay out of the European Union (and out of the Common Fisheries Policy). Price guarantees and subsidizations of fishermen are implemented in the same way as agricultural subsidies are. The Common Fisheries Policy (CFP) is the fisheries policy of the European Union. ... Individual fishing quotas (popularly abbreviated to IFQ) are a means by which many governments have tried to regulate fishing. ... × The Traffic Light colour convention, showing the concept of Harvest Control Rule (HCR), specifying when a rebuilding plan is mandatory in terms of precautionary and limit reference points for spawning biomass and fishing mortality rate. ... COD may refer to many different topics, including: Cash on delivery Completion of discharge, shipping College of DuPage, a public Junior College with campuses in the suburbs of Chicago Call of Duty (series), a series of computer games Canadian Oxford Dictionary Carrier onboard delivery Catastrophic optical damage, a failure mode... The North Sea is a sea of the Atlantic Ocean, located between the coasts of Norway and Denmark in the east, the coast of the British Isles in the west, and the German, Dutch, Belgian and French coasts in the south. ...


Manufacturing

Europe has a thriving manufacturing sector, with a large part of the world's industrial production taking place in Europe. Most of the continent's industries are concentrated in Western Europe (mainly in the zone that comprises England, the Benelux, western Germany, northeastern France, Switzerland, and northern Italy). However, because of the higher wage level and hence production costs, Western Europe is suffering from deindustrialization and offshoring in the traditional (labour intensive) manufacturing sectors. This means that manufacturing has become less important in Western Europe and that jobs are moved to cheaper regions (mainly China and Eastern Europe). For other uses, see England (disambiguation). ... Location of Benelux in Europe Official languages Dutch and French Membership  Belgium  Netherlands  Luxembourg Website http://www. ... A wage is a compensation which workers receive in exchange for their labor. ... Deindustrialization is the process by which the manufacturing-based economy of a country or region declines. ... Offshore may refer to oil and natural gas production at sea; see oil platform. ...


Eastern Europe has been industrialized since the early to mid 20th century but suffered from contraction in the 1990s when the inefficient heavy industry based manufacturing sector crippled after the collapse of communism and the introduction of the market economy. In the 21st century the manufacturing sector in Eastern Europe picked up because of the accession of Eastern European states to the EU and resulting accession to the European Common Market. This caused Western European firms to move jobs from their manufacturing sector to Eastern Europe (see above), which sparked Eastern European industrial growth and employment.


Some of the world's largest manufacturers are European, such as BP, Royal Dutch Shell, DaimlerChrysler, Maersk, and Volkswagen. This article is about the energy corporation. ... Royal Dutch Shell plc is a multinational oil company of British and Dutch origins. ... DaimlerChrysler AG (ISIN: DE0007100000) is a German car corporation and the worlds eighth largest car manufacturer. ... Maersk Containers The A.P. Moller-Maersk Group, is an international business consortium involved in a variety of business sectors, primarily transportation. ... Volkswagen AG (ISIN: DE0007664005), or VW, is an automobile manufacturer based in Wolfsburg, Germany. ...


Investing and banking

Europe has a well developed financial sector. Many European cities are financial centres with the City of London being the largest. The European financial sector is helped by the introduction of the euro as common currency. This has made it easier for European households and firms to invest in companies and deposit money on banks in other European countries. Exchange rate fluctuations are now non-existent in the Eurozone. In Eastern Europe, the financial sector is somewhat less developed (mostly because of the communist legacy), but is rapidly developing towards Western European standards. The financial sector in Eastern Europe is helped by economic growth in the region and the commitment of Eastern European governments to achieve these high standards. Motto: Domine dirige nos Latin: Lord, guide us Shown within Greater London Sovereign state Constituent country Region Greater London Status City and Ceremonial County Admin HQ Guildhall Government  - Leadership see text  - Mayor John Stuttard  - MP Mark Field  - London Assembly John Biggs Area  - City  1. ... For other uses, see Euro (disambiguation). ... The Eurozone (also called Euro Area, Eurosystem or Euroland) refers to the European Union member states that have adopted the euro currency union. ...


European banks are amongst the largest and most profitable in the world (Credit Agricole, HSBC, Royal Bank of Scotland, HBOS, BNP Paribas, Unicredit, Banco Santander). Crédit Agricole is one of the largest banks in France and part of the CAC 40 stock index. ... For other uses, see HSBC (disambiguation). ... The Royal Bank of Scotland Plc (Scottish Gaelic: [1]) is one of the retail banking subsidiaries of Royal Bank of Scotland Group plc, which together with NatWest, provides branch banking facilities in the United Kingdom. ... Group headquarters on The Mound, Edinburgh HBOS Office at Trinity Road, Halifax HBOS plc (LSE: HBOS) is a banking and insurance group in the United Kingdom, the holding company for Halifax plc and the Governor and Company of the Bank of Scotland. ... BNP Paribas (Euronext: BNP, TYO: 8665 ) is one of the main banks in Europe and France. ... UniCredito Italiano SpA, UniCredit, UniCredit Group is an Italian, Milan- based pan- European Bank which operates in 19 countries with 28 million customers through 7,000 branches employing 140,000 people. ... Banco Santander Central Hispano is the largest bank in Spain and now has large scale operations in both the continents of Europe and South America. ...


Global trade relations

The bulk of the EU's external trade is done with the United States of America, China,[1] India, Russia and non-member European states.


EU members are represented by a single official at the WTO. “WTO” redirects here. ...


The EU is involved in a few minor trade disputes. It had a long running dispute with the USA of allegedly unfair subsidies the US government gives to several companies, such as Boeing. There is also a dispute with China over textile exports, and the EU has a long running ban prohibiting arms trade with the Chinese. The Boeing Company (NYSE: BA, TYO: 7661) is a major aerospace and defense corporation, originally founded by William Edward Boeing. ...


Economy by country

see also: Economy of England - Economy of the European Union - Economy of Northern Ireland - Economy of Kosovo - - Economy of Scotland - Economy of Wales - The Economy of England is the largest of the four economies of the United Kingdom. ... If it considered as a single state, the economy of the European Unions twenty-seven member states is currently the worlds second largest economy. ... The economy of Northern Ireland is the smallest of the four Home Nations economies of the United Kingdom. ... The economy of Kosovo is one of the poorest in Europe, with Kosovo having a per capita income estimated at 1,565 Euro (2004). ... The headquarters of the Bank of Scotland, located on the Mound in Edinburgh. ... The Economy of Wales ranks as the smallest of the four economies of the United Kingdom in terms of GDP(2002). ...


References

  1. ^ As regards the EU-China trade relations, see Paolo Farah (2006) Five Years of China’s WTO Membership. EU and US Perspectives on China’s Compliance with Transparency Commitments and the Transitional Review Mechanism, Legal Issues of Economic Integration, Kluwer Law International, Volume 33, Number 3, pp. 263-304.

See also


  Results from FactBites:
 
Economy of Europe in an age of crisis, 1600-1750 by Jan De Vries | LibraryThing (366 words)
Economy of Europe in an age of crisis, 1600-1750 by Jan De Vries
Economy of Europe in an age of crisis, 1600-1750
By relating economic changes to the political backdrop, The Economy of Europe in an Age of Crisis, 1600–1750 describes and analyzes the economic civilisation of Europe in the last epoch before the Industrial Revolution.
NationMaster - Encyclopedia: Economy of Scotland (920 words)
This has, however, been combined with a rise in the service sector of the economy which is now the largest sector in Scotland, with significant rates of growth over the last decade.
The British Pound Sterling is the official currency of Scotland, and the central bank of the UK is the Bank of England which retains responsibility for the monetary policy of the whole of the United Kingdom.
The Scottish economy changed dramatically during the second half of the 20th century, with services—including banking, retailing, public administration, and tourism—emerging as the leading economic sector.
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