The Membership of the European Union and Employment in the UK Essay

The Membership of the European Union and Employment in the UK - Essay Example However in late Britain tends to understand and respect its long-standing membership with such a potential body like the European Union (Euromove, 2011). In the current era, United Kingdom is thus making every endeavor to help resolve conflicts pertaining to ideologies through holding open discussion forums with the members of the European Union (Perth and Hope, 2011). The employment relation policies followed in the European Union can be understood as follows. Firstly the European Union requires the employer bodies in the different member states to encourage its members to actively participate in the formation of trade unions. In that, the employees are rendered the right to collectively bargain for their right in cases where they are deprived of such and also can hold strikes as a sign to protest against the decisions of the employer body. Secondly, the employment relation policies followed by the European Union also require the employers to form collective agreements with the employees or representative bodies of the employees in regards to issues on compensation systems, leave policies and working hours and conditions in the concern. These policies of the European Union are found to be active whether in regards to a single employer or a group of employers in regards to a specific business or diversified business categories (Business Link, n.d.) . In the third case, the European Union body also requires the different employers belonging to the companies in the member nations to openly consult and share potential information with the different employees or employee groups. This policy tends to enhance the level of transparency in regards to the employer-employee relationships in the member countries. Fourthly the employer bodies pertaining to the member nations are strictly required to have a word with the representative bodies of the employees in the light of working out a redundancy plan. Herein, the employer bodies are required to effectively state as to how many numbers of people they require to be made redundant with also stating the need for planning of such action. Further, the employer bodies are also required to state plans through which the company would tend to reemploy the redundant employees or help them gain a suitable position in the future.   The employers are also required to state in what manner they have calculated and arrived at the number of employees they require to be turned off and therein must also reflect on the pattern taken to effectively compensate such people. Similarly, in the fifth case, the European Union body also requires the employer bodies pertaining to the companies operating in the member countries to rightly inform the staff in cases of any change or transfer of ownership into new hands. Sixthly the European Union also requires the employer or the management team of the companies operating inside its member countries and possessing an employee base of around 20 to continually inform them about the economic and employment status of the concern. In that, the employers are also required to inform the internal people about any substantial changes that the employers consider to bring about in the near future.   However, the general legislation brought about by the European Union in regards to employment relations must also be effectively dealt with country or regi on-specific circumstances to help enhance its due efficacy.

Hyperinflation in Zimbabwe Essay Example | Topics and Well Written Essays - 1250 words

Hyperinflation in Zimbabwe - Essay Example Two major events precipitated inflation in Zimbabwe and that is, involvement in Congo civil war in 1998 and the land expropriation of 2000. The Zimbabwe government entered into war on the side of Zaire’s dictator Laurent Kabila without having budgeted for the war, without any reserves for the war or any arrangements to raise the funds. The land expropriation program of 2000 saw the government forceful take 4,500 farms from white settlers and give it to war veterans and politicians (Coomer and Gstraunthaler 312). This led to reduction in foreign investment from 400 million US dollars in 1998 to a mere 30 million in 2007. The productivity of the land was also reduced by half between 2000 and 2007. This government policies also led to imposition of sanctions by the IMF, US, UK and EU. The government in order to win public confidence provided initiatives such as purchase of farm inputs for the farmers who had been given land. The farmers also used the land as securities for securing loans. This unforeseen expenditure compounded with the four year expenditure in Congo war led the Reserve bank of Zimbabwe to adopt inflationary policies such as printing more money and employing more staff. This led to devaluation of the Zimbabwean dollar and the central bank responded by printing more money and even increasing the face value. This is the origin of hyperinflation in Zimbabwe. By March 2007 the inflation rate in Zimbabwe was 2,200% while by October 2008 it rose to 3,840,000,000,000,000,000%! (Noko 347). Hyperinflation led to lose of value of the Zimbabwe dollar. Wealth was lost within months as millionaires were no longer wealthy. The prices of commodities went up leading the government to regulate the same. (Federal Reserve Bank of Dallas 11). This led producers to opt for other markets which led to an acute shortage of various products. The industries were dissolved, unemployment was at the highest level, poverty escalated and some citizens fled to other countries. The next section gives methods through which this hyperinflation could be solved. Solutions to Zimbabwe’s Hyperinflation Hyperinflation was brought about by the practices of Reserve Bank of Zimbabwe. Replacing the Reserve Bank of Zimbabwe is a sure way of ending hyperinflation (Hanke1 23). Some countries such as Angola have contained their high inflation rates without replacing their central bank through change of policy. The question is why could this be implemented in Zimbabwe? This could not be adopted in Zimbabwe because from historical perspective policy change has never checked inflation in Zimbabwe. Moreover, all over the world hyperinflation has been linked to the issue of currency by the central bank or the concerned country’s treasury. Central banks can easily end inflation as they fuel them. One of the sure ways is to stop the printing of currency. This solution reduces money in circulation and contains hyperinflation, but it is a long process because it takes time for the central bank to regain its lost credibility. During this time interest rates on loans normally escalate and it is very difficult to get a long term loan because there is less money in circula