Economy of Europe

Countries as ranked by per capita GDP Luxembourg Sweden

Countries as ranked by per capita GDP Luxembourg Major producer and exporter of steel until 1960s. Banking and financial services now the most important economic activity. Highest per capita GDP in the world. ($81,800) The European Investment Bank An old steel mill in Luxumbourg

Countries as ranked by per capita GDP Switzerland Secure and secret banking. Highly skilled workforce. Known for precision made tools, machines, electronics. Tourism.

Countries as ranked by per capita GDP Sweden Timber, hydropower, iron ore major natural resources. Highly skilled workforce. Ranked highest in world on “business creativity.” Export-based economy. The Swedish company Saab makes jet engines and hot cars.

Polders in the Netherlands Land reclaimed from the sea

Polders in the Netherlands

Polders in the Netherlands

Polders in the Netherlands

Polders in the Netherlands

Polders are used for agriculture.

Polders are used for agriculture.

Polders are used for agriculture.

Polders are used for agriculture.

Polders in the Netherlands

The climate of France is ideal for agriculture The climate of France is ideal for agriculture. (Marine west coast climate = plenty of rain.)

French farmers are known for using advanced techniques French farmers are known for using advanced techniques. (mixed farming, crop rotation)

Sunflowers in France

Sunflowers in France

Vinyards in France

Dairy & beef cattle in France

A golden wheat field in France.

Lavender is grown in France.

Acid Rain: Results of unchecked industrial emissions Air pollution and destruction of forests.

Acid Rain has damaged many historical statues and buildings.

Areas threatened by air and water pollution:. Germany (Black Forest) Areas threatened by air and water pollution: Germany (Black Forest) Venice, Italy Rhine, Danube, and Seine Rivers

Venice is suffering from severe water pollution and it is sinking into the Adriatic.

Venice is suffering from severe water pollution and it is sinking into the Adriatic.

Boats are part of everyday life in Venice, Italy. Police boat Postal boat Hearse boat Construction boat

Venice is suffering from severe water pollution and it is sinking into the Adriatic. 32

Venice, Italy: beautiful but polluted. 33

The Chunnel A tunnel under the English Channel A tunnel boring machine.

From Dover England to Calais France The 31.4 mile long tunnel unites Britain with continental Europe.

The Chunnel There are two train tunnels and a service tunnel.

The tunnel is in the layer of rock under the sea.

High speed trains move people and goods from Britain to France

High speed trains move people and goods from Britain to France

Mountain Regions: Tourism, recreation(skiing), and mineral resources.

Rivers and canals serve as major transportation links.

Oil reserves in the North Sea.

Economic Characteristics of European Nations Well-educated workforce Industrial and technological societies High-tech agriculture Well-developed infrastructure Fertile soils

Demographics of Developed Countries: 1. High Per Capita GDP 2 Demographics of Developed Countries: 1. High Per Capita GDP 2. High Life Expectancy 3. Low Population Growth Rate 4. Low Infant Mortality 5. Low % of population under the age of 15 6. High Literacy Rate

Large role of governments in the economy: Socialism Sweden and Denmark

Sweden

Differences in Western vs. Eastern European economic development

Differences in Western vs. Eastern European economic development Due to the failure of communist economic systems Communism is now being replaced with capitalism in eastern Europe Eastern European economies still lag behind.

Eastern European countries are making a transition from a communist system to a capitalist economy. Example: Poland

More about Poland

Black, fertile soil that produces high crop yields. Chernozem Black, fertile soil that produces high crop yields.

The European Union An attempt to rebuild Europe economically through cooperation rather than competition. * Lower trade barriers, free borders, etc. * A political/economic force * A “United States of Europe.”

The European Union

The European Union The Strasbourg Parliament meets in Germany.

The European Union The European Court of Justice in Luxembourg is the highest authority on E.U. laws.

The European Union The Euro is the common currency of all E.U. nations.

The European Union Currently the European Union is under stress. The economies of Greece and Spain have been damaged by excessive government spending. Other countries – such as Germany – will need to “bail them out.”