The Economy of the United Kingdom

1. Pre-Reading Activities

Task I. Go through the following list of words that will help you to understand the contents of the text:

account for (v) – отвечатьза

automotive (adj) – автомобильный

barley (n) – ячмень

beef (n) – говядина

beverage (n) – напиток

bulk (n) – основная масса, большая часть

clay (n) – глина

coal (n) – каменный уголь

commodity (n) – предмет потребления, (pl) товар

competition (n) – соревнование, конкуренция

coniferous (adj) – хвойный

contribution (n) – содействие, вклад, сотрудничество

crop (n) – урожай

currency (n) – валюта

currentaccountdeficit – дефицит текущего баланса, пассивное сальдо текущих операций

decline (v) – уменьшаться, приходить в упадок, ухудшаться

demand (n) – спрос, потребность

dolomite (n) – доломит

earnings (n) – заработок, прибыль

economicoutlooks – экономические перспективы

emerge(v) – возникать, появляться

exceed (v) – превышать, превосходить

fell (v) – рубить, валить

fertilizer (n) – удобрение

fiberoptic – оптоволокно, волоконная оптика

finishedgoods – готовые изделия

foreignexchangeearnings – доход от внешних валютных операций

fuel (n) – топливо, горючее

handle(v) – управлять, осуществлять контроль

incomeinequality – неравенство доходов

insurance(n) – страхование

interestrate – процентная ставка

item(n) – единица,изделие

join (v) – присоединить(-ся), объединиться, вступить в члены

limestone (v) – известняк

merchandise (n) – товары

motorvehicle – автотранспортное средство; автомобильная промышленность

nicheproducer – узкоспециализированный производитель

obtain (v) – получать

offshore (adj) – иностранный, осуществляемый в других странах, оффшорный

opinionpoll – опрос общественного мнения

oppose (v) – сопротивляться, выступать против

output (n) – продукция, выпуск, выработка

percapita – на человека, на душу населения

prosperous (adj) – процветающий, успешный

purchasingpowerparity – паритет покупательной силы

rapeseed (n) – рапс

real property – недвижимость

recession (n) – спад, снижение

reduce (v) – понижать, уменьшать, сокращать

referto (v) – обращаться, ссылаться

retailtrade – розничная торговля

retain(v) – удерживать, сохранять

revenue (n) – доход, доходная статья, поступления

rubber (n) – резина

seed (n) – семя, зерно

severe(adj) – жесткий, суровый

shale (n) – глинистый сланец

significant (adj) – значительный, важный, существенный

slowdown (n) – снижение темпа работы, торможение, замедление

slump (n) – резкий спад; резкое падение цен, спроса; кризис

steadily(adv) – неизменно, неуклонно, постоянно

steam-power (n) – энергия пара

substantial(adj) – значительный, существенный

suspending – временное прекращение, приостановка

takehold – начать действовать, начать распространяться

tough(adj) – жесткий

turmoil (n) – суматоха, беспорядок

volumecar – легковой автомобиль массового производства

wane (v) – идти на убыль, уменьшаться, ослабевать

wholesaletrade – оптовая торговля

worsen (v) – ухудшаться

 

Task II. Mind the following proper nouns and abbreviations:

EMU (the European Economic and Monetary Union) – Европейскийэкономическийивалютныйсоюз (ЭВС)

G7 (the Group of 7: the UK, the USA, Germany, France, Italy, Canada, Japan) – страны “Большойсемерки”

GVA (GrossValueAdded) – валовая добавленная стоимость

IMF (the International Monetary Fund) – Международныйвалютныйфонд

OECD (the Organisation for Economic Cooperation and Development) – Организацияэкономическогосотрудничестваиразвития (ОЭСР)

 

B. Reading and Comprehension Activities

Task III. Read the text carefully and do the comprehension tasks that follow:

During the days of the British Empire the UK economy was the largest in the world and the first to industrialize. Although it has declined in significance since, the UK is still the eighth largest economy in the world by purchasing power parity (2008 est.).

The UK is a member of the G7 (now expanding to the G8 and G20), the European Union (although not the European Economic and Monetary Union – EMU) and the OECD (the Organisation for Economic Cooperation and Development). It is also the founding member of the Commonwealth, the association formed by former British Empire states.

The economy of the United Kingdom of Great Britain includes the economies of England, Scotland, Wales and Northern Ireland. The Isle of Man and the Channel Isles are part of the British Isles and have offshore banking status.

The British economy is one of the most globalized economies in the world, thanks in no small part to the City of London, considered to be the largest financial centre in the world.

In the 1980s, under the Government of Margaret Thatcher, most state-owned enterprises in the industrial and service sectors, which since the 1940s had been nationalized, were privatized. The British Government now owns very few industries or businesses – Royal Mail is one example. Following the end of World War II, despite a largely prosperous period in the 1950s and 1960s, the British economy recorded weaker growth than other European nations and by the 1970s was referred to as the ‘sick man of Europe’. However, the 1980s saw a new economic boom and in recent years Britain has seen the longest period of sustained economic growth for more than 150 years, having grown in every quarter since 1992. This ended in 2008 when the United Kingdom entered a recession brought about by the global financial crisis.

The British economy was one of the strongest EU economies in terms of inflation, interest rates and unemployment, all of which remained relatively low. The United Kingdom, according to the IMF, in 2007 had the ninth highest level of GDP per capita in the EU in terms of purchasing power parity, after Luxembourg, Ireland, the Netherlands, and other countries. However, in common with the economies of other English-speaking countries, it had higher levels of income inequality than many European countries. During August 2008 the IMF has warned that the UK economic outlooks have worsened due to a twin shock: financial turmoil as well as rising commodity prices. Both developments harm the UK more than most developed countries, as the UK obtains revenue from exporting financial services while recording deficits in finished goods and commodities, including food. The UK has the world’s third largest current account deficit, despite significant oil revenues. This is mainly the result of a large deficit in the trade in manufactured goods.

The global economic slowdown, tight credit, and falling home prices prompted the Government to implement a number of new measures to stimulate the economy and stabilize the financial markets; these include part-nationalizing of the banking system, cutting taxes, suspending public sector borrowing rules, and bringing forward public spendings on capital projects. The Bank of England periodically coordinates interest rate moves with the European Central Bank, but Britain remains outside the EMU, and opinion polls show the majority of British people oppose joining the euro.

Sectors of Economy

Britain’s land surface is minimal compared to many other nations, but British agriculture is very intensive, highly productive and mechanized. During the 20^th century output rose steadily, although the increase slowed towards the end of the century, and agricultural labour became more productive. The improvement was due to innovations in farm machinery, biological engineering of seeds and plants, and the increased use of fertilizers. Compared to other nations in the EU, Britain’s agricultural sector is much smaller in terms of employment and contribution to the GDP. In 2008 agriculture employed approximately 1.4% of the workforce and contributed 0.9% to the total GDP.

Many of Britain’s full-time farms are devoted to livestock farming – raising cattle for dairy products or beef, or raising sheep for wool and meat.

Most crop farming in Britain takes place in eastern and south central England and in eastern Scotland. The leading crops are wheat, sugar beets, potatoes, barley, and rapeseed. As concern has grown about the use of fertilizers, pesticides, and biologically engineered seeds and their effect on the environment, some farmers have turned to organic farming, with support from the government.

The UK retains a significant, although vastly reduced, fishing industry. Fish and fish products are both imported into and exported from Britain. Kingston upon Hull, Grimsby, Fleetwood, Great Yarmouth, Peterhead, Fraserburgh, and Lowestoft are among the coastal towns that have fishing industries.

Forestry: Britain was once covered with thick forests, but over the centuries the expanding human population steadily deforested nearly the entire country, felling trees for fuel and building materials. Most of the forested area consists of commercially planted, fast-growing coniferous trees in Wales and north-eastern Scotland. Britain has made efforts to increase the managed forest areas. Imports of wood and wood products are substantial because Britain produces only a small proportion of the wood it needs.

Mining: Raw materials for construction form the bulk of mineral production, including limestone, dolomite, sand, gravel, sandstone, common clay, and shale. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Energy industries contribute about 4% to GDP.

The history of manufacturing in Britain is unique because of Britain’s role as the birthplace of the Industrial Revolution. During the Industrial Revolution new methods of manufacturing products were developed. Instead of being made by hand, many products were made by machine. Production moved from small craft shops to factories, and population shifted to urban areas where these factories were located. Cotton textile factories using newly developed steam-powered machines produced more goods at a lower cost per item. Textiles, shipbuilding, iron, and steel emerged as important industries, and coal remained the most important industrial fuel.

The structure of British industry changed substantially in the last half of the 20^th century. Coal mining and cotton textile industries declined sharply. As coal production declined, oil production replaced it as a major industry. Motor vehicle production became a significant part of the industrial base but was subject to severe foreign competition. As incomes increased, consumer demand rose for durable goods such as cars and kitchen appliances.

British industrial production also expanded into communications equipment, including fibre optics, computers, computer-controlled machine tools, and robots. Growing industries in recent decades include paper products and publishing; chemicals, such as pharmaceuticals; rubber and plastics; electronic and optical equipment.

The UK electronics manufacturing industry, despite experiencing a decline in output since the peak of the global information and communication technologies boom in 2000, remained the fifth largest in the world, accounting for 7% of manufacturing GVA in 2006, and 6% of manufacturing employment.

Similarly, the UK’s automotive industry sector continued to employ around 180,000 people and accounted for 6% of manufacturing GVA in 2006. Within the UK, more than 40 companies manufacture vehicles, ranging from volume car and van makers, to specialist niche producers manufacturing high value and luxury vehicles. While overall employment in the UK automotive industry has fallen in recent years, in line with many OECD economies, there are many positive stories regarding the UK auto sector’s response to globalisation. Ford now sources 25% of its global engine requirement from the UK. Nissan Sunderland’s plant has become Europe’s most productive car plant.

In the year of 2008 the industry generated 22.8% of the total GDP. As the global economic crisis takes hold, hardly any other country has seen its fortunes wane as brutally as the United Kingdom. The levels of output, new orders and employment in the manufacturing sector recorded unprecedented declines in 2008.

Service sector includes finance, retailing, wholesaling, tourism, business services, transport, insurance, investment, advertising, public relations, market research, education, administration, government and professional services.

Services account for threequarters of the UK economy and the sector is facing a very tough 2009 due to the ongoing financial crisis, housing market slump, and the fall in consumer spending. All components of the sector decreased in the three months to January 2009, of which business services and finance showed the most significant decrease. As a result service sector companies are cutting jobs.

Finance, insurance and real property has always been the most important service industry in Britain. Banking and financial services have played an important part in London’s economy, and levels of specialization and expertise have been high. London has the largest concentration of international banks in the world and is the world’s leading centre for currency trading. Leeds, Manchester, Cardiff, Liverpool, Edinburgh, and Glasgow have developed as financial centres in recent decades. London is also the world’s leading centre for insurance and handles 20% of the world’s insurance business.

Britain remained one of the world’s leading trading nations in the 21^st century. It generally ran a large trade deficit, with imports exceeding exports. Visible exports, or trade in merchandise, account for about half of Britain’s overall trade. Trade in services – including sea transport, civil aviation, travel, government services, investment income, transfers, and financial services – accounts for the other half. For many years tourism has been a major element in the UK economy and the most important invisible source of foreign exchange earnings.

Much of Britain’s trade is with the European Union, especially Germany, France, and the Netherlands. The United States is another major trading partner.

Britain’s major exports are manufactured goods, fuels, chemicals, food, beverages, tobacco. The main country’s imports are manufactured goods, machinery, fuels, and foodstuffs.

 

It’s interesting to know …

ü The Bank of England (formally the Governor and Company of the Bank of England) is the central bank of the United Kingdom and is the model on which most modern, large central banks have been based. It was established in 1694 to act as the English Government’s banker, and to this day it still acts as the banker for the UK Government. The Bank has a monopoly on the issue of banknotes in England and Wales, although not in Scotland or Northern Ireland. The Bank’s Monetary Policy Committee has been given devolved responsibility (sometimes called independence) for managing the monetary policy of the country. The Bank’s headquarters has been located in London’s main financial district, the City of London, since 1734.

ü The Commonwealth of Nations, usually known as the Commonwealth, is an intergovernmental organisation of fifty-three independent member states. Most of them were formerly parts of the British Empire. They cooperate within a framework of common values and goals, as outlined in the Singapore Declaration. These include the promotion of democracy, human rights, good governance, rule of law, individual liberty, egalitarianism, free trade, multilateralism, and world peace.The symbol of this free association is the Head of the Commonwealth, which is a ceremonial position currently held by Queen Elizabeth II.

ü The G7 (also known as the G-7 or HALEY GROUP) is the meeting of the finance ministers from a group of seven industrialized nations. It was formed in 1976, when Canada joined the Group of Six: France, Germany, Italy, Japan, the United Kingdom, and the United States. The finance ministers of these countries meet several times a year to discuss economic policies. Their work is supported by regular, functional meetings of officials, including the G7 Finance Deputies.

ü The Group of Eight (G8) is a forum, created by France in 1975, for Governments of eight nations of the northern hemisphere: Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the USA; in addition, the European Union is represented within the G8, but cannot host or chair. ‘G8’ can refer to the member states or to the annual summit meeting of the G8 Heads of Governments. The former term, G6, is now frequently applied to the six most populous countries within the European Union. G8 ministers also meet throughout the year, such as the G7/8 finance ministers (who meet four times a year), G8 foreign ministers, or G8 environment ministers.

ü On January 1, 1999 the Euro (?) became the official currency in the participating countries inside the European Union. France, Germany, Spain, Portugal, the Netherlands, Belgium, Luxembourg, Austria, Italia, Ireland, Finland and Greece introduced this currency as the new single currency. A few countries of the EU did not join the European Economic and Monetary Union (EMU) and have not introduced the Euro. Sweden, Denmark and Britain refused to take part in the EMU and preferred to sustain their own currencies.

 

Task IV. Complete the puzzle by guessing the words which correspond to the definitions below. Find a key word in the centre boxes:

 

1. to make or hold private; to turn over (a public property, service, etc.) to private interests;

2. diminish or lessen in extent, quantity, strength, power, etc.; to make less;

3. having to do with the supply of money in an economy;

4. the amount by which a sum of money falls short of the required amount;

5. the percentage or number of people who are involuntarily out of work;

6. any means in or by which someone travels or something is carried or conveyed;

7. the horses, cattle, sheep, and other useful animals kept or raised on a farm or ranch;

8. a persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services;

9. to act against or provide resistance to something;

10. to transfer ownership or control of (land, resources, industries, etc.) to the national government.

 

Task V. Match the words in the right column with their definitions. Recall the contexts in which these combinations are used:

1. a temporary falling off of business activity during a period when such activity has been generally increasing	a. net importer
2. registered, located, conducted, or operated in a foreign country	b. recession
3. the work done or amount produced by a person, machine, production line or manufacturing plant	c. revenue
4. a country or territory whose value of imported goods is higher than its value of exported goods over a given period of time	d. currency
5. a sudden or sharp fall; a decline in business activity, prices, etc.	e. interest rate
6. the income of a government from taxation, excise duties, customs, or other sources, appropriated to the payment of the public expenses	f. offshore
7. business profits; gains from investments; wages	g. retail
8. the sale of goods to ultimate consumers, usually in small quantities	h. earnings
9. the percentage of a sum of money charged for its use; the monthly effective rate paid (or received if you are a creditor) on borrowed money	i. slump
10. the money in circulation in any country	j. output

 

Task VI. Fill in the gaps with prepositions, if necessary:

1. The UK is still the eighth largest economy in the world … purchasing power parity.

2. The British economy is one of the most globalized economies in the world, thanks … no small part … the City of London

3. By the 1970s the British economy was referred … as the ‘sick man of Europe’.

4. In 2008 the United Kingdom entered a recession brought … by the global financial crisis.

5. Britain’s land surface is minimal compared … many other nations.

6. Compared … other nations in the EU, Britain’s agricultural sector is much smaller … terms of employment and contribution … the GDP.

7. Opinion polls show a majority of British people oppose … joining the euro.

8. Fish and fish products are both imported … and exported … Britain.

9. Motor vehicle production became a significant part of the industrial base but was subject … severe foreign competition.

10. Trade in services accounts … a half of Britain’s overall trade.

 

Task VII. Use the vocabulary of the text to complete these sentences. Guess the suitable word by the first letter:

1. The UK is also the founding member of the C…, the association formed by former British Empire states.

2. In the 1980s most state-owned enterprises were p…, the British Government now owns very f… industries or businesses.

3. The UK has the world’s third largest current account d…, despite significant oil revenues.

4. The leading country’s c… are wheat, sugar beets, potatoes, barley, and rapeseed.

5. The UK has large coal, natural gas, and oil r…, but its oil and natural gas r… are declining.

6. The UK e… manufacturing industry remained the fifth largest in the world, accounting for 7% of manufacturing GVA in 2006.

7. L… is the world’s leading centre for insurance and handles 20% of the world’s insurance business.

8. V… exports, or trade in merchandise, account for only about half of Britain’s overall trade.

9. T… is a major element in the UK economy and the most important invisible source of foreign exchange earnings.

10. Britain’s major t… partners are the European Union, especially Germany, France, and Netherlands, and the United States.

 

Task VIII. Decide if the following statements are True or False to make sure you understand the gist of the text:

1. The economy of the United Kingdom of Great Britain includes the economies of England, Scotland, Wales and Ireland.

2. The British economy is one of the most globalized economies in the world.

3. Before 2008 the British was one of the strongest EU economies in terms of inflation, interest rates and unemployment, all of which remained relatively low.

4. Financial turmoil, as well as rising commodity prices, harms the UK more than most developed countries, as the UK obtains revenue from exporting manufactured goods, fuels, chemicals.

5. Sheep and cattle are Britain’s chief livestock.

6. Most of the area consists in Wales and north-eastern Scotland is covered with thick forests.

7. The UK became a net exporter of energy in 2005.

8. Britain is the birthplace of the Industrial Revolution.

9. British major industries are coal mining and cotton textile industries.

10. Service sector is the most highly developed sector of the economy nowadays.

 

Task IX. Answer the suggested questions scanning the text for essential detail:

1. Does the UK rank among the most globalized economies of the world?

2. Why have the UK economic outlooks worsened in recent years?

3. What measures did the Government implement in order to stimulate the economy and stabilize the financial markets?

4. What changes have taken place in the UK agriculture?

5. Does the country import wood and wood products? Why?

6. What raw materials form the bulk of mineral production?

7. What are the country’s major industries? What problems does the manufacturing sector face nowadays?

8. What does service sector include?

9. Where are the country’s major financial centres situated?

10. What do the British exports and imports include?

 

Task X. Check how well you know the economy of the United Kingdom by choosing the correct variant from the alternatives below:

1. The slogan of the British industry is ….

a. “Import or live” c. “Live or die”

b. “Export or die” d. “Export or import”

2. Britain set its monopoly on the world market in the … century.

a. 16^th b. 17^th c. 19^th d. 20^th

3. At its zenith the British Empire stretched over … of the earth’s surface.

a. one-third b. two-fifths c. one-fourth d. two-thirds

4. In the 18^th and 19^th centuries Britain didn’t make use of … as one the major sources ofits profits.

a. loans to foreign countries c. slaves

b. investments in enterprises abroad d. freight

5. In the 19^th century Britain was not the world’s ….

a. banker b. financier c. manufacturer d. merchant

6. Britain was … country in the world to put up large-scale factory production.

a. the first b. the second c. the third d. the forth

7. Up to the end of the 19^th century the British Navy ….

a. carried the manufactures of British industry

b. brought raw materials to Britain

c. was the world’s freighter

d. held a supremacy over the high seas

8. Britain lost its colonial empire ….

a. in the 19^th century c. after World War I

b. in the 18^th century d. after World War II

9. The ‘garden of England’ is ….

a. London b. the county of Kent

b. the county of Yorkshire d. the southwest Peninsula

10. Which of these crops isn’t widely cultivated in Great Britain?

a. barley b. potatoes c. wheat d. tomatoes

11. Britain’s chief livestock is ….

a. hogs b. beef cattle c. dairy cattle d. sheep

12. Wool is produced mostly in ….

a. Wales c. England

b. Scotland d. Northern Ireland

13. Most British farmers practise ….

a. livestock breeding c. sheep breeding

b. mixed farming d. crops growing

14. The chief centre of the British clothing industry is ….

a. London b. Manchester c. c. Leeds d. Newcastle

15. Northern Ireland has a world-wide reputation for its ….

a. lace b. pottery c. linen goods d. knitwear

16. Britain is not self-sufficient in ….

a. petroleum b. natural gas c. coal d. peat

17. Petroleum refining is centred in ….

a. Aberdeen b. Glasgow c. Manchester d. Belfast

18. Great Britain is one of the world’s leading … producers.

a. steel b. lace c. trucks d. silk

19. ‘Invisible trade’ doesn’t imply ….

a. human beings trade c. insurance

b. tourism d. banking

20. Community, social and personal services don’t include ….

a. transportation b. healthcare c. data processing d. advertising

21. The railroads in Great Britain are owned by ….

a. private companies c. individuals

b. the Government d. the Queen

22. Which service doesn’t The British Post office provide?

a. selling gun licenses c. selling dog licenses

b. selling TV licenses d. selling insurance

23. The BBC is mainly financed by …

a. the Government

b. fees that people must pay to watch the BBC’s programs

c. licenses people must buy to own a TV set

d. advertisers

24. The British Government now owns … of Britain’s industries.

a. very few b. the majority c. half d. none

25. Britain’s largest airline is called ….

a. British Aerospace b. British Airlines c. British Airways d. Lufthansa

26. The financial centre of England is ….

a. the Bank of England c. the London Stock Exchange

b. the City d. the Lloyd’s

27. The London Stock Exchange was founded in the … century.

a. 20^th b. 19^th c. 18^th d. 16^th

28. The most famous insurance company in Britain is called ….

a. Barclays b. Lloyd’s c. Mark and Spencer’s d. Sheffield’s

29. Great Britain is a member of the EU which was established in ….

a. 1995 b. 2000 c. 1993 d. 1992

30. The UK is not one of the founding members of ….

a. the UN Security Council c. the Commonwealth

b. NATO d. EMU

 

Task XI. Translate the following sentences into English using the vocabulary of the text:

1. В конце 18 в. Великобритания была первой индустриальной державой мира, а в 19 в. она произвела больше промышленных товаров, чем любая другая страна.

2. В начале 20 в. промышленная мощь британской экономики базировалась лишь на немногих отраслях.

3. Великобритания – страна со смешанной экономикой. Большинство производств и многие услуги выполняются частными предприятиями; сфера производства находится в основном в руках крупнейших фирм.

4. Великобритания обладает большими запасами ресурсов энергии, включая нефть, природный газ и уголь, чем любая из стран Европейского Сообщества.

5. Наиболее важными секторами промышленности являются машиностроение, пищевая промышленность (включая производство безалкогольных и спиртных напитков), табачная и химическая промышленность, бумажная и печатная промышленность, легкая промышленность.

6. Доля невидимой торговли (гонорары и плата за финансовые услуги, проценты по вкладам, прибыли и дивиденды) постоянно увеличивается с одной трети до половины всех внешних доходов государства.

7. Машиностроение и транспорт, промышленные товары и химикаты являются основными статьями экспорта Великобритании.

8. На сектор услуг в Великобритании приходится около 2/3 от ВВП Великобритании. В нем основную долю (около 40%) занимают деловые и финансовые услуги.

9. Великобритания располагает развитой индустрией туризма. В ней занято 2,1 млн. человек.

10. Сельское хозяйство Великобритании – одно из самых продуктивных и механизированных в мире.

 

C. Follow-up Activities

Task XII. Share your opinions on the following:

1. What is the difference between privatization and nationalization?

2. What advantages can you see in privatization? Are there any examples of privatized or nationalized industries in your country?

3. Which industries do you think should be controlled by the state and which by private shareholders? Give reasons for your choices.

4. If British industries continued to change at the same rate, what would you expect them to look like now?

5. Prepare to talk about the major financial institutions of the United Kingdom. Where are they located? What are their functions?

6. Summarize the changes in the British economy. Compare the situation in Britain with your own country.

 

Task XIII. Comment on the quotations:

1. “There can be economy only where there is efficiency.” Benjamin Disraeli 1804-1881, British Statesman, Prime Minister

2. “We must now face the difficult task of moving forward towards a single economy, a single political entity... For the first time since the fall of the Roman Empire we have the opportunity to unite Europe.” Romano Prodi (speech to European Parliament, 13^th October 1999), an Italian Politician and Statesman, 1999-2004 – EU Commission President

 

D. Optional Reading