The Euro single currency was created in the year 2000 to bring forth one common currency around Europe. Additionally, the Euro was created to promote economic growth, integration and stability in Europe. At first, the Euro was an overarched currency. This is because it was only used by countries within the union for exchange, with each Member State having its own currency. European residents and companies accrued many benefits from the adoption of the Euro single currency. Due to close co-operation by the Member States, exchange rates and fluctuation risks were withdrawn. There was increased price transparency which enabled strengthen the single market. These enabled companies to conduct their businesses well and invest in other states because of the stability of cross-border trade. European residents were able to acquire good and better jobs from other States. Additionally, they were able to be self-employed because of the stable prices and the various opportunities available for doing business and product marketing.
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