of euro created many benefits and advantages previously where every member
country had their currency. Euro brings closer cooperation between member
states and a stable currency and economy for our benefit. The EU was founded in
1957 and its member states’ concentration was on building a common market for
trading. For the market to grow and
flourish further, monetary cooperation was needed for internal market which
brought job openings and prosperity for the Europeans. The Euro benefits are
wide and felt on various scales, they include stable prices for clients and
citizens and more choice, extra
opportunities for business and markets
and bigger security, growth and better economic stability, more integrity in
financial markets, stronger presence for the EU in the global economy and
tangible sign of a European identity. Economics stability allows the government
to plan for the future and is good for member state’s economy, it also benefits
businesses by reducing uncertainty and encourages organizations to invest. This,
benefits citizens who have an eye on employment and better good jobs.
How do the
euro benefits arise?
The single currency creates new strengths and
opportunities coming from the integration and scale of the economy of the euro
area, creating efficiency in the single market. Doing business in euro area is less risky and
cost effective with the single currency. Ability to compare prices encourages
cross border trade and all types investments, from the consumers who are
searching for the lowest cost product, through business buying the best
service, to the consumers who are searching for large investments and who can
invest more efficiently throughout euro area without getting risks in
fluctuation of exchange rates.
currency brings other opportunities in the global economy. The currency enables the euro area to be an
attractive region for third countries to do business and promote trade and invest.
The prudent economic management enables the euro to attract reserve currency to
third countries. Careful management and scale
brings stability to the euro area, the strength and size of the euro
betters ability to absorb external shocks with no job losses and slow growth. The euro does not stabilize economy and growth on its own. This is gotten through the sound management
of the euro area economy under the
treaty rules and SGP (Stability and
Growth Pact) and central element of EMU (Economic and Monetary Union. The euro
is integral in the economic, political and social structures of the European
Union of today.