Describe fastest-growing and richest regions in europe

Assignment Help International Economics
Reference no: EM13177074

It was not quite what the planners had in mind when Sweden and Denmark opened their expensive bridge across the Oresund strait in July. After an early boost from summer tourism, car crossings have fallen sharply, while trains now connecting Copenhagen, the Danish capital, and Malmo, Sweden's third city, are struggling to run on time. Many people think the costs of using the bridge are simply too high. And, from the point of view of Scandinavian solidarity, the traffic is embarrassingly one-sided: far more Swedes are going to Denmark than vice versa. So last week the authorities decided to knock almost 50% off the price of a one-way crossing for the last three months of this year. The two governments, which paid nearly $2 billion for the 16km (10-mile) state-owned bridge-cum- tunnel, reckoned that, above all, it would strengthen economic ties across the strait and create, within a few years, one of the fastest-growing and richest regions in Europe. But ministers on both sides of the water, especially in Sweden, have been getting edgy about the bridge's teething problems. Last month Leif Pagrotsky, Sweden's trade minister, called for a tariff review: the cost of driving over the bridge, at SKr255 ($26.40) each way, was too high to help integrate the region's two bits. Businessmen have been complaining too. Novo Nordisk, a Danish drug firm which moved its Scandinavian marketing activities to Malmo to take advantage of ‘the bridge effect', has been urging Danish staff to limit their trips to Malmo by working more from home. Ikea, a Swedish furniture chain with headquarters in Denmark, has banned its employees from using the bridge altogether when travelling on company business, and has told them to make their crossings - more cheaply if a lot more slowly - by ferry. The people managing the bridge consortium say they always expected a dip in car traffic from a summer peak of 20,000 vehicles a day. But they admit that the current daily flow of 6,000 vehicles or so must increase if the bridge is to pay its way in the long run. So they are about to launch a new advertising campaign. And they are still upbeat about the overall trend: commercial traffic is indeed going up. The trains have carried more than 1m passengers since the service began in July. Certainly, the bridge is having some effect. Many more Swedes are visiting the art galleries and cafe ? s of Copenhagen; more Danes are nipping northwards over the strait. Some 75% more people crossed the strait in the first two months after the bridge's opening than during the same period a year before. Other links are being forged too. Malmo's Sydsvenska Dagbladet and Copenhagen's Berlingske Tidende newspapers now produce a joint Oresund supplement every day, while cross-border ventures in health, education and information technology have begun to bear fruit. Joint cultural ventures are also under way. And how about linking eastern Denmark more directly with Germany's Baltic Sea coastline, enabling Danes to go by train from their capital to Berlin in, say, three hours? Despite the Danes' nej to the euro, it is still a fair bet that this last much-talked-about project will, within ten years or so, be undertaken.

Reference no: EM13177074

Questions Cloud

Calculate the magnitude of the current in amperes : Calculate the magnitude of the current in amperes if the number of moles of hydrogen gas produced is 4.80×10-4 moles.
Explain upward sloping supply curve : since the firm faces an upward sloping curve, it will not pick E* (equilibrium level of employment) How will it decide how much labor to employ, and how will this equilibrium level of employment (E**) compare with E*? Explain the reason for the di..
Could uv lamps be used to break the c-c bond : What is the minimum wavelength of light needed to break the C-C bond? Could UV lamps be used to break the C-C bond?
How much are the trademark licensing rights worth : When the colts won the super bowl the demand for peyton manning's jersey was: P = 210 - 0.002Q with a corresponding marginal revenue of: MR = 210 - 0.0004Q IF the marginal cost of producing a jersey is $10, how much are the trademark licensing rig..
Describe fastest-growing and richest regions in europe : And how about linking eastern Denmark more directly with Germany's Baltic Sea coastline, enabling Danes to go by train from their capital to Berlin in, say, three hours? Despite the Danes' nej to the euro, it is still a fair bet that this last muc..
Compute the boiling point of the above solution in farenheit : Compute the boiling point of the above solution in Farenheit.
How much theraputic strength does a cesium-131 : Cesium-131 is a short lived radioisotope (t1/2= 9.7 days) used to treat prostate cancer. How much theraputic strength does a Cesium-131 source lose over 60 days? Express your answer as a percent of the strength the source had at the begining of th..
What is the change of h for the following reaction : What is the change of H for the following reaction at 273 K?
Explain how frictional unemployment would rise : If unemployment insurance were so generous that it paid unemployed workers 90% of their regular salary A. the official unemployment rate would probably understate true unemployment. B.

Reviews

Write a Review

International Economics Questions & Answers

  Swiss membership in the european union

The European Union is a supranational management that has been capable to overcome tremendous national diversity consider of how different Germany, UK, Italy, Spain etc...

  Application of the theory of the second best to economics

"The theory of the second best leaves welfare economists 'high and dry' since not only does it abolish the established objectives of first-best situations,

  Question about central limit theorem

Determine what evidence do we have that the Central Limit Theorem is true and explain why do so many of life's events share the same characteristics with Central Limit Theorem?

  Mortgage lending and mortgage investing

Determine what factors led to the mortgage default crisis and how did mortgage defaults affect banks involved in mortgage lending and mortgage investing Securitization

  Calculate nominal exchange rate today

Before one year Polish zloty was PLN 3.8000/USD. Since then the sloty has fallen 14 percent against the dollar. Price levels in the US have not changed, but Polish price has gone up 7 percent

  Expansionary fiscal policy and tight monetary policy

Determine the effects of one country pursuing expansionary fiscal policy and tight monetary policy?

  Does diagram represent short-run or long-run position

Explain the relationship between the AC, MC, AR and MR curves at this long-run equilibrium position and does the diagram represent the short-run or long-run position?

  Brief explanation about the microsoft antitrust case

What is your opinion and brief explanation about the Microsoft antitrust case. Require your opinion about outcome and if the solution was fair? why or why not?

  Consider two countries that share the same technology

Consider two Countries that share the same technology, South Africa and the UK, and two goods, Diamonds and Tea

  Regulatory competition

Suppose you are the owner manger of an innovative computer software firm, and your latest item is so revolutionary and superb it has resulted in your firm controlling 98 percent of the industry in terms of total sales.

  calculate the series for nominal gdp

Calculate and Plot using a spreadsheet (like Ms Excel) the series for Nominal GDP

  Aggregate demand for goods and services

Assume that both the stock market and housing prices fall in the United State 1st, describe the channels through which these shocks affect aggregate demand for goods and services.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd