1. Euro begins official circulation in 12 European countries
Following a three-year temporary period, the euro turned into the lawful delicate in 12 of the European Union's 15 part states toward the start of the new year. Over 300 million Europeans bid goodbye to their public monetary standards and began their existence with the normal cash, which denoted the finish of the European single money framework.
2. Israeli-Palestinian conflict escalates
Because of a progression of self-destruction bombings submitted by Palestinian aggressors, Israeli soldiers dispatched, after March 29, a few huge scope invasions into the West Bank and Gaza Strip and attacked Palestinian pioneer Yasser Arafat's base camp in Ramallah a few times. Responses between the different sides, which have killed over 1,000 individuals, are growing into an endless loop.
3. Corporate scandals hit US economy
Following the Enron bookkeeping misrepresentation, the United States Securities and Exchange Commission (SEC) in April brought common extortion charges against Xerox, which had inappropriately detailed 4.5 billion US dollars in income in the course of recent years. WorldCom, one of the biggest media transmission monsters in the United States, declared financial insolvency insurance in July after comparative bookkeeping disappointments.
Harvey Pitt, director of the SEC, surrendered on Nov. 5 after the US Congress passing the Sarbanes-Oxley law, which will manage the reviews of the budget summaries of public organizations through thorough enlistment, standard-setting, examination, and disciplinary projects.
The complete expenses of corporate outrages in the United States were assessed at more than 5 trillion dollars, coming in plunging stocks, lost venture reserve funds, occupations, annuity misfortunes, and duty income.
4. US, Russia sign a nuclear disarmament treaty
On May 24, Russian President Vladimir Putin endorsed with US President George W. Bramble in Moscow an atomic demilitarization settlement and an essential association understanding.
Under the settlement, the two nations will each cut atomic armories by 66%, with their sent atomic warheads decreased from the presently permitted 6,000 to somewhere in the range of 1,700 and 2,200 throughout the following decade.
5. OAU officially transforms into AU
On July 9, African pioneers met in Durban, South Africa, the main culmination of the African Union (AU), denoting the authority dispatch of another provincial political association.
During the two-day culmination of the AU, which supplanted the 39-year-old Organization of African Unity (OAU), the members tended to a progression of significant issues, including the change of the OAU into the AU, challenges confronting the African landmass just as the principles and strategies of key organs of the AU.
6. Chechen rebels take hundreds hostage in Moscow
A pack of Chechen shooters held onto a Moscow theater on Oct. 23, where they abducted more than 700 individuals and requested the withdrawal of Russian soldiers from Chechnya. Russian uncommon powers raged the venue on Oct. 26, liberating the vast majority of the prisoners and killing 32 prisoner takers. An aggregate of 128 prisoners kicked the bucket during the salvage activity.
7. CPC's 16th National Congress rivets world attention
On Nov. 8-14, the sixteenth National Congress of the Communist Party of China (CPC) was held in Beijing. The congress, which chose CPC's new initiative and advanced the goal of building a well-off society in an inside and out the manner in China, drawn in overall consideration.
Over 50 heads of state and government and about 300 ideological groups and associations in 140 countries sent complimentary messages to the CPC and its chiefs. They complimented China's expect to fabricate a well-off society overall and communicated trust in the fate of the CPC and China.
8. UN resumes arms inspection in Iraq
On Nov. 8, the United Nations Security Council embraced Resolution 1441, which Iraq consented to acknowledge genuinely, and on Nov. 27, arms assessments in Iraq were continued following a four-year break.
On Dec. 7, the Iraqi government submitted to the United Nations a 13,000-page arms announcement, in which Baghdad denied having any weapons of mass annihilation. Yet, the United States dismissed the report as "one more material break" of Security Council goals and continued to get ready for conceivable conflict against Iraq.
In January, the United States, which marked Iraq as a feature of a "vile forces that be," blamed Baghdad for proceeding to deliver and reserve weapons of mass obliteration and took steps to utilize all potential ways to incapacitate Iraq.
9. NATO expands further eastwards
At the Prague highest point on Nov. 21-22, the North Atlantic Treaty Organization (NATO) chose to welcome Bulgaria, Estonia, Latvia, Lithuania, Romania, Slovakia, and Slovenia to join the 19-country coalition, which will be extended to an alliance of 26 individuals in 2004.
This move will be the biggest round of growth in NATO's 53-year history.
10. Political crisis halts Venezuela's oil export
Venezuelan resistance arranged a cross country strike on Dec. 2, requesting prompt renunciation of President Hugo Chavez, who has would not hold an early choice before next August or leave right away.
The strike disabled the oil business in Venezuela, the world's fifth-biggest oil exporter, with its oil creation decreased to just around 200,000 from 2.8 million barrels each day. The closure of oil sends out from Venezuela assisted push with oiling costs on the worldwide market to their most significant levels in two years.
In April, President Chavez was momentarily removed in a military-drove upset and subsequently reestablished to control his allies.
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