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Re: [Slovak-World] Re: Euro go-ahead

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  • skeeter
    The American laborers average purchasing power has been mostly oscillating rather than rising for about three decades now. I was watching the news last
    Message 1 of 18 , May 4, 2008
      "The American laborers' average
      purchasing power has been mostly oscillating rather than rising for
      about three decades now."

      I was watching the news last night (I don't remember which network) and they said the average American CEO's salary has gone from 40-times the laborer's salary in 1980 to 433-times the laborer's salary today. The rich get richer, and the little guy gets screwed. That might explain some of it.



      ----- Original Message -----
      From: Martin Votruba
      To: Slovak-World@yahoogroups.com
      Sent: Saturday, May 03, 2008 4:46 PM
      Subject: [Slovak-World] Re: Euro go-ahead


      > To back up the argument for statistics and perception

      Thanks, Ron. It was refreshing to see no blame on the euro for that.
      Since the collapse of communism, not only that part of the continent,
      but also Western Europe has been slowly moving towards the large gap
      between the top incomes and the middle- and lower-middle-class incomes
      that has been typical of the US. The American laborers' average
      purchasing power has been mostly oscillating rather than rising for
      about three decades now.

      The gap is already quite large in Slovakia -- fewer than 30% of the
      population, a large segment of them in Bratislava, have salaries above
      the country's average, 70% earn less than average salaries. A
      specific post-com situation that fosters social discontent is that,
      broken down by age groups, the highest average salaries are earned by
      the 30-34-year-old Slovaks. By comparison, the people in their 50s,
      whose incomes are the highest in most societies, which gives many of
      them a sense of accomplishment and deserved status, are making about
      10% less in Slovakia.

      At the same time, while the gap between the middle-class and the top
      earners has been opening faster in the post-com countries than in the
      older European democracies, the purchasing power of all the employed
      has been growing in Slovakia, and substantially so. A recent article
      has worked out that the Slovaks were able to buy about 6.2% more with
      their salaries by the end of 2007 than when the year began, an
      exceptional year, but part of a trend. Of course, that's not what the
      doom-and-gloom Slovaks say in opinion polls.

      Martin

      votruba "at" pitt "dot" edu





      [Non-text portions of this message have been removed]
    • Martin Votruba
      ... Yes, Skeeter, that s part of the difference between the European and American societies that I mentioned. That ratio has traditionally been 1:10 to 1:20
      Message 2 of 18 , May 4, 2008
        > the average American CEO's salary has gone from 40-times
        > the laborer's salary in 1980 to 433-times the laborer's
        > salary today.

        Yes, Skeeter, that's part of the difference between the European and
        American societies that I mentioned. That ratio has traditionally
        been 1:10 to 1:20 in the European democracies, but it has started
        moving faster in the direction of the US since the collapse of communism.


        Martin

        votruba "at" pitt "dot" edu
      • Martin Votruba
        As expected the European Commission has recommended today that Slovakia adopt the euro on Jan. 1, 2009. A report is below. Martin votruba at pitt dot edu
        Message 3 of 18 , May 7, 2008
          As expected the European Commission has recommended today that
          Slovakia adopt the euro on Jan. 1, 2009. A report is below.


          Martin

          votruba "at" pitt "dot" edu

          x x x



          EU: No Country But Slovakia Meets Euro Adoption Criteria

          DOW JONES NEWSWIRES, 5/7/2008 -- No other country but Slovakia meets
          the criteria for euro adoption, the European Commission said Wednesday
          in its latest convergence report, giving a green light to Slovakia's
          bid to join the euro zone.

          The commission, the E.U.'s executive arm, along with the European
          Central Bank, reports at least once every two years on the progress
          made by E.U. member states in fulfilling obligations to achieve
          economic and monetary union.

          Slovakia received recommendation from the European Union Wednesday to
          join the fifteen member state-strong euro-zone, and is lined-up to
          become the fourth country in two years to join the club after Slovenia
          did so on the first day of 2007. Cyprus and Malta entered at the
          beginning of this year.

          Poland, Hungary, the Czech Republic, and the Baltic states of
          Lithuania, Latvia and Estonia joined the E.U. along with Slovakia in
          May 2004, while Romania and Bulgaria were the latest to join the
          twenty-seven member free-trade block in January 2007.
        • J Michutka
          So how is the word euro declined in Slovak--like mesto? e.g. jedno euro, dva eura , sedem .... eur??? Or is it not declined, and just remains euro
          Message 4 of 18 , May 7, 2008
            So how is the word "euro" declined in Slovak--like mesto? e.g.
            jedno euro, dva eura' , sedem .... eur??? Or is it not declined, and
            just remains "euro" regardless of number? And what do they call the
            "cents" in Slovak?

            I really miss having different and interesting monies from country to
            country, but on the other hand, it will be so much easier....no
            looking for a place to get the local currency every time I cross a
            border, or having to plan ahead and carry multiple currencies.

            Julie Michutka
            jmm@...


            On May 7, 2008, at 9:20 AM, Martin Votruba wrote:

            > As expected the European Commission has recommended today that
            > Slovakia adopt the euro on Jan. 1, 2009. A report is below.
            >
            >
            > Martin
            >
          • skeeter
            It s not just in Europe. I ve traveled to Canada (Canadian dollars) and Mexico (Pesos), and had a hassle converting them back into US dollars when I got home.
            Message 5 of 18 , May 7, 2008
              It's not just in Europe. I've traveled to Canada (Canadian dollars) and Mexico (Pesos), and had a hassle converting them back into US dollars when I got home. I should have just kept them -- their currencies are much more attractive than ours.

              ----- Original Message -----
              From: J Michutka
              To: Slovak-World@yahoogroups.com
              Sent: Wednesday, May 07, 2008 10:07 AM
              Subject: [Slovak-World] declining the euro


              So how is the word "euro" declined in Slovak--like mesto? e.g.
              jedno euro, dva eura' , sedem .... eur??? Or is it not declined, and
              just remains "euro" regardless of number? And what do they call the
              "cents" in Slovak?

              I really miss having different and interesting monies from country to
              country, but on the other hand, it will be so much easier....no
              looking for a place to get the local currency every time I cross a
              border, or having to plan ahead and carry multiple currencies.

              Julie Michutka
              jmm@...

              On May 7, 2008, at 9:20 AM, Martin Votruba wrote:

              > As expected the European Commission has recommended today that
              > Slovakia adopt the euro on Jan. 1, 2009. A report is below.
              >
              >
              > Martin
              >




              [Non-text portions of this message have been removed]
            • Martin Votruba
              ... Yes, Julie (_dve_). ... _Cent_ [tsent] (masc., hard pattern: 2 centy, 5 centov). ... Since Slovakia is surrounded by countries that aren t meeting the
              Message 6 of 18 , May 7, 2008
                > how is the word "euro" declined in Slovak--like mesto? e.g.
                > jedno euro, dva eura' , sedem .... eur???

                Yes, Julie (_dve_).

                > And what do they call the "cents" in Slovak?

                _Cent_ [tsent] (masc., hard pattern: 2 centy, 5 centov).


                > no looking for a place to get the local currency every time
                > I cross a border, or having to plan ahead and carry multiple

                Since Slovakia is surrounded by countries that aren't meeting the
                criteria, this will not be different any time soon for the Slovaks who
                mostly travel to Poland, Hungary, and the Czech R. When they joined
                the European Union in 2004, all three were saying they would adopt the
                euro by 2009-2010, but have failed. The current very tentative
                estimates are that they might meet the criteria to adopt the euro by:

                Poland - 2012
                Czech R. - 2012
                Hungary - 2014

                Only the Slovaks' second major summer destination, Greece, has the
                euro, and Austria and the countries west of it (except Switzerland).


                Martin

                votruba "at" pitt "dot" edu
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