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Critical Thinking Turkey has made a commitment to fully join the European Union. In a critical essay, indicate the main considerations Turkey will face from a currency perspective. Specifically,...

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Critical Thinking

Turkey has made a commitment to fully join the European Union. In a critical essay, indicate the main considerations Turkey will face from a currency perspective. Specifically, discuss any currency, interest, inflation, and trade issues if Turkey commits to the euro as a currency. In addition, examine any other qualitative issues related to the Turkish accession to the European Union. What is the present outlook for fruition and the potential timetable? Support your findings with additional academic references.

Directions:

  • Your essay should be at minimum five-pages in length, which does not include the title page, abstract, or required reference page, which are never a part of the content minimum requirements.
  • Support your submission with course material concepts, principles, and theories from the textbook and at least three scholarly, peer-reviewed journal articles.Use the Saudi Digital Library to find your resources.
  • Use Saudi Electronic University academic writing standards and APA style guidelines.
  • It is strongly encouraged that you submit all assignments into the Turnitin Originality Check prior to submitting it to your instructor for grading. If you are unsure how to submit an assignment into the Originality Check tool, review the Turnitin Originality Check – Student Guide for step-by-step instructions.
  • Review the grading rubric to see how you will be graded for this assignment.

Please find attached instructions for Week 11 Critical Thinking Assignment to help you
Answered Same Day Dec 29, 2021

Solution

Robert answered on Dec 29 2021
115 Votes
Running Head: Turkey accession to EU
1
Turkey accession to EU
Student’s Name
University Name
Turkey accession to EU
2
Introduction
The entry of Turkey under the European Union had great impact over the economic
parameters of the country especially over the macroeconomic conditions of the economy
involving changes in the growth rate of GDP, inflation rate and interest rate, etc. The agreement
was signed under the name of “Ankara Agreement” in 1963 among EU and that of Turkey.
However, the country actually joined EU from the year 2005 in effect along with the affective
accession to that of Customs Union. In between, the country was not the part of EU because of
various reasons and then again it joined back on 16 December, 2013. It keeps negotiating over
the settlement of the cu
ency valuation and related trading tariff rates so that it can augment the
trading volume in future. Another important issue which is still under discussion between the
two parties is the liberalisation process of visa in order to increase the mobility of capital and
labour among them. The status of the country has changed from 1 October, 2014 so that the
applicable changes in policy procedures can be implemented in the futuristic concerns of
macroeconomic policies. It would result into
inging positive as well as negative changes into
the country’s macroeconomic conditions which is the main part of discussion in the paper.
Areas of negotiation between EU and Turkey
The country has been negotiating in raising its accession rights to the sources of energy
increasing its nuclear power as a sustainable energy form. It will widen its scope of attaining
success in energy sector through availability of good power resources in the form of sustainable
energy. The country would further be benefitted in the form of increased flow of investments
through Foreign Direct Investment in the energy sector. The investment in research and
development activities would enhance the capital movements among EU and Turkey which
Turkey accession to EU
3
would not only be beneficial for Turkey but also for European Union (Turkey progress report,
2014). The beneficial rights for both the parties can be proved from the fact that Turkey got more
elaxed trade policies by removing the quotas and other ba
iers of trade increasing the volume
of exports from Turkey. Also, the imports in Turkey have also increased due to following of such
elaxation policies which increases the foreign reserves of cu
encies in the country as there has
een large scale capital inflow in such trading forms. During the period 2004-2008, the volume
of trade between Customs Union and that of Turkey was around 70% of the foreign direct
investment which was put into the Customs Union by all the members together. It not only
esults into rise in the production and retailing activities of the country as the country has been
granted the access to the number of resources like manufacturing technology, rises in the money
supply of the country due to...
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