Maastricht Treaty

Signed on February 7, 1992, the Maastricht Treaty led to the formation of the European Union (EU), and EU citizenship being offered to all member state citizens. Also, the treaty defines the geographies that EU citizens could travel for work and live freely sans having to put up with any country-related permits and restrictions. Maastricht, […]

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Euro

Euro is the European Union’s (EU) official currency, introduced to make the common European market much more trade-efficient. It was first introduced in 1999 as virtual currency (in bank accounts) – Euro paper notes and coins started circulating three years later in 2002. The countries that have euro as their official currency are collectively referred […]

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Gross Domestic Product (GDP)

Gross domestic product (GDP) is an official financial measure of the total goods and services produced by a country’s citizens within its borders during a particular time period. All sectors or industries are party to GDP: manufacturing, agriculture, construction, energy, government and service sector. Calculated annually and also quarterly at times, GDP helps find out […]

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Chauvinism

Chauvinism is extreme bias for a cause or people belonging to a particular gender, nationality, race, place, language, religion, caste, etc. In other words, chauvinism is a belief that one’s identity is superior to other identities despite there being no empirical evidence authenticating the superiority. Chauvinism not just means loyalty for a particular clan, but usually […]

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Federalism

Federalism is a form of governance as per which multiple governments exercise shared control or power over a region. The constitution of the particular country/state bestows these powers on both governments. In other words, federalism is when a country has a government at the centre and separate sub-governments for its different regions (states or cities), […]

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