Fin-tech Lens

  The euro (€) is not just money it stands for European integration, cooperation, and unity.  It was launched in 1999 for electronic transactions and, in 2002, in the form of physical coins and banknotes.  The euro is today one of the most widely used currencies in the world.  It is used as the official currency of 20 of the 27 member countries of the European Union (EU) collectively known as the Eurozone, and certain non-EU states. Since its establishment, the euro has aimed to ease trade, do away with exchange charges for currencies, and unify Europe's economic position in the world.  However, its impact has been multifaceted, with tremendous advantages coupled with major pitfalls.  This article examines the history of the euro, economic influence, advantages, and disadvantages, as well as its broader role in the European economy. Origins and Purposes of the Euro: The euro was planned as part of the Maastricht Treaty (1992), which laid the foundation of t...

  The collapse of the Soviet Union in 1991 was an abrupt tipping point in world history and especially in Russia's economic fate.  Abruptly, the hub of a huge centrally planned economy, Russia was engulfed in a capitalist, globalization-and-reform world overnight.  The subsequent years have been one complex process of transformation, marked by crisis, reform, expansion, and interaction with international economic forces. In this extensive article, we are going to discuss how the economy of Russia has evolved during the past three decades, monitoring transition phases from the end of communism to the current modern economic challenges and prospects for Russia. #1 The Collapse of the Soviet Economy (1991–1993): When the Soviet Union fell apart in December of 1991, Russia inherited most of its land, population, army, and industrial base.  But it also inherited a very troubled economy.  The Soviet economy had been marked by: Central planning and fixed prices Misallo...