You are on page 1of 30

3-1:

.
.
9/26/2011

, , , ,

1947 .
1977-1979 3
(European Currency Unit=Ecu)
.
1970-1980- -
, -
.
1989 6

3 .

9/26/2011

1991 12-
1992 2

9/26/2011

/1990-1993/
1990 1 1-

/1994-1998/
1994.01.01-
.

/1999-2002/
1999 -
.
9/26/2011

2002 1
1-

.

,

9/26/2011


,
.


,
,
.

,
.

()
.
.

:
, . , 2005 .
9/26/2011

What
does
Eurozone mean?
A geographical and
economic region that
consists of all the
European Union fully
incorporated the euro as
their national currency.

()

.
: ww.investopedia.com/terms

9/26/2011




, ,


,
.
:
, . , 2005 .
9/26/2011

9/26/2011

9/26/2011

10

-
1.
2.
3.

4.

5.
6.

7.
8.
9.
10.

11.
12.
13.

14.
15.

*
*

16.

()*

18.

*
*
*

()

*
*

9/26/2011

17.
19.

20.
21.
22.

23.
24.
25.
26.

27.

*
*

()*

2014 , ,
,
2015 , ,

1.
2.
3.
4.
5.

11


,
- ,

- 60
.
- ,

.

.

:
, . , 2005 .

9/26/2011

12


.
,


.



.
-
,
.
: www.ecb.europa.eu

9/26/2011

13


.


.

: www.ecb.europa.eu
9/26/2011

14

1998
6- 1-
,
-

: www.ecb.europa.eu
9/26/2011

15

()

(European System of Central Banks) .


: www.ecb.europa.eu
9/26/2011

16

- :


,


,

()

, ,
,

: www.ecb.europa.eu
9/26/2011

17

- :

. 6 (1 , 1
, 4 ). 8
.

. 17
.

- ,
() . -
, 28
.

. ,
. -
.

: www.ecb.europa.eu
9/26/2011

18


,


.

. -


.
9/26/2011

, ,

(Venture
Capital)

: www.ecb.europa.eu
19

331.4

310.1

127.6

14.6

19.7

5.8

27.7

37.9

27.3

10.1

9.6

5.1

- %

85.3

78.2

180.4*

- %

44.6

27.4

31.6*

- %

22.7

12.6

15.9

- %

22.0

16.1

14.6

- %

-0.4

-3.2

3.6

: www.ecb.europa.eu
9/26/2011

20

1999

2002 1-
1- 11
()

.
9/26/2011

21

:
1. (2001)
2. (2007)
3. (2008)
4. (2008)
5. (2009)
6. (2011)
9/26/2011

22

40.3399

40.3399

340.750

13.7603

6.55957

5.94573

1936.27

0.585274

2.20371

15.6466

200.482

0.4293

1.95583

35.4424

166.386

239.64

0.787564

9/26/2011

:
http://en.wikipedia.org/wiki/Euro_convergence_criteria
23

.

121(1) 4
.
: http://en.wikipedia.org/wiki/Euro_convergence_criteria
9/26/2011

24

1.

:
1. - 3%-

.
2. - 60%- .
2.


( 1996
3 3.5%) -

1.5% .

: www.ecb.europa.eu

9/26/2011

25

3.

4.

,
(1996 9%)
2%-
.


ERM-II -


.

: www.ecb.europa.eu

9/26/2011

26

ERM-II

Max. 1%

Max. 3%

Max. 60%

Min. 2

Max. 6%

1.7%

2.%

17.4%

2.1%

-3.9%

41.6%

3.0%

7.1%

68.1%

0.1%

8.6%

6.9%
1999 1-
1-

3.4%

3.98%

48.5%

2005 5-
2-

12.7%

2004 6-
28

12.1%

2.0%

8.4%

38.6%

3.9%

7.3%

53.9%

6.1%

5.0%

8.0%

30.5%

9.4%

4.8%

4.1%

78.9%

8.4%

2.1%

2.1%

42.6%

3.3%

0.3%

5.7%

39.8%

4.7%
: www.ecb.int

9/26/2011

27



ECU-
.

9/26/2011

28


,
.

.


.
12 .
9/26/2011

29

, .
, 2005 .
, , .
, 2007 .

The Monetary Policy of the ECB, 3rd edition May 2011.


Evaluation of the 2002 cash changeover, April 2002.

www.investopedia.com/terms
www.europa.eu
www.ecb.europa.eu
www.ecb.int
http://en.wikipedia.org/wiki/Euro_convergence_criteria
9/26/2011

30

You might also like