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Economic and Social Consequences of European Union Expansion

April 12, 2007

Drexel University's LeBow College of Business and the Global Interdependence Center (GIC) will present "Economic and Social Consequences of European Union Expansion (EU)," a joint program of Drexel’s 11th Annual International Business Symposium and GIC’s 25th Monetary and Trade Conference. The forum will held on Monday, April 16, 2007, from 8:15 a.m. to 12:15 p.m. at Drexel University’s Bossone Research Enterprise Center, 32nd and Market Streets in Philadelphia.

The keynote speaker will be Christian Noyer, Ph.D., governor of the Banque de France, who will identify the EU's vision and its evolution from the 1992 Maastricht Treaty to present and future expectations. Charles Plosser, Ph.D., president, Federal Reserve Bank of Philadelphia, will address price stability, social welfare and its effects on the EU. Nancy Wentzler, Ph.D., deputy comptroller for global banking and financial analysis in the Office of the Comptroller of the Currency, will discuss financial regulatory challenges with EU enlargement.

A highly accomplished panel of international experts including Ludek Niedermayer, Ph.D., vice-governor of the Czech National Bank; Andres Sutt, deputy governor of the Bank of Estonia; and Angelos Pangratis, Ph.D., deputy head of delegation of the European Commission to the United States, will examine the various social and economic implications of expanding membership in the EU. The discussion will be moderated by Steven Liesman, CNBC senior economics reporter.

“What we wanted to do this year was go to central banks and governments of the newer EU countries which are not yet in the Euro zone and each of them functions somewhat differently,” said David Kotok, program chair for the Global Interdependence Center. "For Americans, this symposium is going to be a great opportunity to learn about the European Union and the European monetary policy."

The European Union is the largest political and economic entity in Europe with 27 member nations representing 493 million people and a gross domestic product of €10.5 trillion. Currently, 13 EU nations have adopted the Euro as their official currency. The EU came into being in its current form after the Treaty of Maastricht (Netherlands) in 1992.

"We are very pleased that we have the opportunity to collaborate to with such a distinguished group of economists and experts in the area of globalization," said George P. Tsetsekos, Ph.D., Dean of LeBow College of Business. "GIC has added value to the Philadelphia region and beyond. This particular symposium gives us the opportunity to examine issues concerning the European Union which are relevant to businesses today."

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