20 euro 2019
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The format remains largely the same, although only 20 of the 24 spots for the finals tournament are to be decided from the main qualifying process, leaving four spots still to be decided.
Following the admission of Kosovo to UEFA in May , it was announced that the 55 members at the time would be drawn into ten groups after the completion of the UEFA Nations League five groups of five teams and five groups of six teams, with the four participants of the UEFA Nations League Finals guaranteed to be drawn into groups of five teams , with the top two teams in each group qualifying.
The qualifiers are scheduled to be played on double matchdays in March, June, September, October and November Four teams from each division which have not already qualified for the Euro finals are to compete in the play-offs for each division, to be played in March The winners of the play-offs for each division, to be decided by two "one-off" semi-finals the best-ranked team vs.
The four matches three group stage, one round of 16 initially scheduled to be held in Brussels were reallocated to London. Therefore, Wembley Stadium will host a total of seven matches, as London was already chosen to host the semi-finals and final of the tournament.
Of the 12 selected cities and countries, 8 cities and 7 countries have never hosted a European Championship finals match before. Of the 12 selected stadia, only 2 have hosted a European Championship match before: The original Wembley stadium hosted games and the final in UEFA Euro , but although on the same site, this is classified as a different stadium to the current Wembley Stadium.
Each city will host three group stage matches and one match in the round of 16 or quarter-finals. The match allocation for the 12 stadiums is as follows:.
The pairings were allocated to groups by means of a random draw on 7 December Each qualified host country will play a minimum of two matches at home.
The group venue pairings is as follows: The draw for the final tournament will be held on 1 December The identity of the four play-off teams are not known at the time of the draw, and will be identified as play-off winners 1 to 4.
The following principles will be applied: Each national team has to submit a squad of 23 players, three of whom must be goalkeepers, at least ten days before the opening match of the tournament.
UEFA announced the tournament schedule on 24 May Group winners, runners-up, and the best four third-placed teams advance to the round of If the venue is located in a different time zone, the local time is also given.
If two or more teams are equal on points on completion of the group matches, the following tie-breaking criteria are applied: In the knockout phase, if a match is level at the end of normal playing time, extra time is played two periods of 15 minutes each , where each team is allowed to make a fourth substitution.
The specific match-ups involving the third-placed teams depend on which four third-placed teams qualified for the round of The prize money was finalised in February From Wikipedia, the free encyclopedia.
UEFA Euro bids. Successful bid for group stage and round of Successful bid for group stage and quarter-finals. Successful bid for semi-finals and final.
Group stage and round of Successful bid for group stage and round of 16 at first but later removed from list. UEFA Euro qualifying. Stadio Olimpico , Rome.
Olympic Stadium , Baku. Parken Stadium , Copenhagen. Krestovsky Stadium , Saint Petersburg. Johan Cruyff Arena , Amsterdam.
Wembley Stadium , London. Hampden Park , Glasgow. Aviva Stadium , Dublin. Allianz Arena , Munich. Beyond the risk that the ECB would not be as tough on inflation as the Bundesbank had been, the Deutsche Mark was overvalued, with Germany running a current-account deficit.
Fixing the exchange rate at that level, it was believed, would pose a severe challenge to the competitiveness of German industry.
Yet, 20 years on, inflation is even lower than it was when the Bundesbank was in charge, and Germany maintains persistently large current-account surpluses, which are viewed as evidence that German industry is too competitive.
This brings us to the first lesson of the last 20 years: This applies to the future as well: Yet the establishment of the eurozone was backward-looking.
The main concern during the s and s had been high and variable inflation, often driven by double-digit wage growth. Financial crises were almost always linked to bouts of inflation, but had previously been limited in scope, because financial markets were smaller and not deeply interconnected.
With the creation of the eurozone, everything changed. Wage pressures abated throughout the developed world. But financial-market activity, especially across borders within the euro area, grew exponentially, after having been repressed for decades.
Then the global financial crisis erupted a decade ago, catching Europe off guard. The first deflationary crisis since the s was made especially virulent in Europe by the mountain of debt that had been accumulated in the previous ten years, when countries had their eyes on the rear-view mirror.
Of course, the eurozone was not alone in being taken by surprise by the financial crisis, which had started in the United States with supposedly safe securities based on subprime mortgages.
But the US, with its unified financial and political system, was able to overcome the crisis relatively quickly, whereas in the eurozone, a slow-motion cascade of crises befell many member states.
Fortunately, the ECB proved robust. Its leadership recognized the need to shift focus from fighting inflation — the objective the ECB was designed to achieve — to curbing deflation.
This pattern of demonizing the euro before recognizing the need to protect it continues to unfold today — and it should serve as a second lesson of the last 20 years.
Per capita GDP growth has slowed over the last 20 years, but not more so than in the US or other developed economies. Moreover, continental European labor markets have undergone an under-reported structural improvement, with the labor-force participation rate increasing every year, even during the crisis.
Today, a higher proportion of the adult population is economically active in the eurozone than in the US. Employment has reached record highs, and unemployment, though still high in some southern countries, is continuously declining.
These economic realities imply that, even if the euro is not particularly well loved, it is widely recognized as an integral element of European integration.