The people in the UK have voted to leave the European Union (the EU).
The European Union is a group of 28 countries in Europe that have agreed to co-operate—to all become one group, in many ways. For instance, people in European Union countries can travel, live and work easily in any other EU country. And businesses that are in the European Union can send products back and forth more easily. Nineteen of the EU countries all use the same money–the Euro.
On Thursday, June 23 there was a very important vote.
Tag: European Union
Ukrainian Prime Minister Resigns
The Prime Minister of Ukraine, Mykola Azarov, resigned from his job on Tuesday.
Experts say this should help to ease some of the tensions that have been building in that country.
The tensions began in November when Ukraine’s president, Viktor Yanukovych, made a surprise move to bring Ukraine closer to Russia rather than European Union (EU).
He asked Russia to lend Ukraine some money, rather than asking the EU for it. Ukraine needed the money to help its economy.
Many Ukrainians had looked forward to a closer association with the European Union because they felt it would bring democracy to their country.
Canada Makes A New Trade Deal With The EU
Canada has a new deal with the European Union. The agreement is expected to increase the amount of trade between Canada and many countries in Europe.
Trade, in this case, is when one country buys something from another country and vice-versa.
Prime Minister Stephen Harper has said the new deal could increase trade by 20 per cent, beginning in 2015, and add $12-billion to Canada’s income (the money it makes) each year.
The new trade deal is called CETA, which stands for Comprehensive Economic and Trade Agreement.
It is expected to create 80,000 new jobs in Canada.
Canada and the European Union have been working on the new trade deal for the past four years.
Canada’s largest trading partner is the United States, but increased trade with other partners is good so Canada is not as dependent on any single country.
Stores Near G8 Summit Location Getting Temporary Facelift
Some businesses in Northern Ireland are getting a facelift before some of the world’s most powerful leaders meet there later this month.
The G8 Summit will take place in Ireland, June 17 to 18.
The G8 Summit brings together the leaders of eight of the world’s wealthiest countries. They are: Canada, France, Germany, Italy, Japan, Russia, the UK and the US. The European Union is also represented at the meeting.
More than 100 businesses in a small town called Belcoo have been “spruced up,” according to news agency Reuters.
Some businesses have been made more attractive with fake store fronts. Some ugly and crumbling buildings have been torn down. Others have been covered by huge billboards, according to Reuters.
The businesses are near a golf course where the G8 leaders will meet.
So instead of Canadian prime minister Stephen Harper or U.S. president Barack Obama seeing ugly storefronts, they’ll see posters of nice storefronts instead.
More than $3-million dollars have been spent by the government in Northern Ireland to make the villages look nicer.
At one store, which used to be a butcher’s shop but is now empty, colourful stickers have been put on the windows to make it look like it’s busy inside, Reuters reported.
EU Donates Peace Prize Money To Children Affected By War
The European Union has decided to put all of the money it won for the Nobel Peace Prize towards projects that help children in war zones.
The EU includes 27 countries in Europe that are closely tied in business and politics.
The EU was awarded the 2012 Nobel Peace Prize for its efforts in keeping the peace in Europe for more than 65 years.
The Peace Prize is a very prestigious honour; the winner receives a medal and eight million Swedish kronor—about $1.18 million.
That money will be put towards projects that help children who live in areas of the world that are experiencing conflict or war.
“Children are the future of any society and at the same time the most vulnerable,” the European Commission said in a statement about the prize money.
What those projects will be, and how the money will be divided, will be decided in the next few weeks.
EU Wins Nobel Peace Prize
The European Union, a collection of countries in Europe, has been awarded an important prize — the Nobel Prize.
It was given the honour for keeping peace for more than 65 years.
That is a very big accomplishment, especially because the Second World War began just 21 years after the First World War ended in 1918.
But not everyone is happy to see the European Union receive the prestigious prize.
That’s because even though Europe is not at war, it is struggling with a different kind of problem.
Many countries in Europe, including Greece, Spain and Italy, are having trouble paying down their debts.
Their governments borrowed too much money and now they must cut back on the amount of money they spend to pay their workers and for things like roads, hospitals and schools.
Europeans Say No To Spending Cuts
Two countries in Europe had important elections last weekend – France and Greece. Both elections went against the conservative parties in power.
Experts are saying this could be a sign that more countries in Europe will protest against spending cuts by voting out current governments.
In France a new party and a new president were elected.
Francois Hollande is the head of the Socialist Party, and he was elected president, over incumbent Nicolas Sarkozy. (Incumbent means “currently in power.”)
Greece To Get New €130B Bailout
Greece was in trouble because it took on too much debt.
But other countries have agreed to help Greece by lending the country more than 130-billion euros. Euros (€) are the units of money used in 17 countries in Europe including Greece, France and Germany.
The countries that have agreed to bail Greece out of its money problems are demanding something in return. They are insisting that the government of Greece spend less.
