THE EUROPEAN UNION Italian 2

Fate Adesso! Give one important fact read from powerpoint.

Obiettivo Students will be able to understand the concept of The Euro and the European Union by being introduced to basic information for future understanding of Money in Italy and in Europe.

Attivita’ Today as a group, you will be learning the Euro Each group will be assigned a topic to discuss to the class in today’s lesson. Please be specific use your own words! Group 1: What is the Euro? Group 2: Countries using the euro in Europe and Countries in EU that are not using the Euro. Group 3: What is the EMU ? Group 4: What are the advantages in being in the EMU? Group 5: What are the disadvantages of being in the EMU? Group 6: What is the ECB? Group 7: What is today’s status on the Euro?

The Euro € In 1999, the euro area was established as a currency in eleven of the then fifteen EU Member States. Of the 28 EU Member States today, seventeen have adopted the euro. Estonia most recently joined in 2011, and Latvia is expected to adopt the euro in 2014. In response to the economic and financial crisis, the EU created a new set of rules on enhanced EU economic governance which entered into force in December 2011.

Before the Euro: a multitude of currencies Cumbersome inter-state trading Comparing prices more difficult Currency exchange can be unpredictable in contracts/ loans 6

The Euro: a single currency for Europeans The 12 countries that introduced the Euro in 2001: Austria Belgium Finland France Germany Greece Italy Ireland Luxembourg Netherlands Portugal Spain 7

The Euro: a single currency for Europeans Can be used everywhere in the 17-country euro area Coins: one side with national symbols, one side common Notes: no national side New Euro countries since 2001: EU countries using the euro in 2013 EU countries not using the euro Cyprus (2006) Malta (2006) Slovakia (2008) Slovenia (2009) Estonia (2011)

Some of the Euro’s benefits International trade is facilitated Currency exchange costs are eliminated European Central Bank keeps price inflation low so interest rates also remain low Travelling is made easier Comparing prices is made simpler 9

United in Diversity - The €uro 10

United in Diversity - The €uro

The euro was introduced in 1999 European Central Bank The European Central Bank (ECB) is the central bank for Europe's single currency, the euro. The ECB’s main task is to maintain the euro's purchasing power and thus price stability in the euro area. The ECB operates independently from Member State governments. The euro area comprises the 17 European Union countries that have introduced the euro since 1999. The euro was introduced in 1999

History of the Euro Currency and the Eurozone https://www.youtube.com/watch?v=PdLr3lTSyns

L’uscita (Exit Slip) Whip Around ! Let’s quickly go around and verbally share one thing you learned in class today. Ball will be tossed around until the bell rings!