European Single Currency Essay Example | Topics and Well Written Essays - 1750 words

European Single Currency - Essay ExamplePrior to its base there were ambiguities but after the launch in all the issues quickly disappe ared and Euro within no time became a favorite among the citizens residing in European Countries. virtually around 320 million European citizens use the currency and find it really amazing and beneficial in much ways than one. Euro is apply in almost all the European Countries but there are still exceptions like Denmark and United Kingdom who still use their own currencies, the British pound is used in United Kingdom and the DKK better known as the Danish Krone is used in Denmark. One of the biggest advantages of Euro is that it saves a conduct of time and effort of the travelers who choose to travel with Europe. For instance if there is a Soccer game in Spain which a Greek citizen wants to witness, he/she can just straight by catch a flight and reach the Soccer stadium in Spain and watch the game. There is no need to covert the currency into some other currency. The same has resulted in saving a lot of time and effort of the European Citizens. This was not the case prior to the introduction of Euro. The people had to exchange funds every now and then to meet their demands but after the introduction things have changed for better.Another major advantage is the clarity in prices whenever an European citizen travels to another European country it becomes very easy to canvass and buy the products of his/her choice this facility was not available to the citizens prior to the launch of the Euro. Earlier even if a Tourist wanted to buy a product desperately, he/she was made to think thrice active it because of the different currencies within Europe but these days there is transparency in prices with regard to the currencies and this has notwithstanding happened because of the introduction of the Euro. Euro has brought in a lot of Economic and financial stability, a Businessman is much less(prenominal) prone to risk when u sing Euro as his/her currency. Single currency keeps the inflation rate to a lower place a good check, which is extremely important for an economy and the Euro does exactly that. It keeps interest rates and the rate of inflation under check hence it can be said that the Euro plays a pivotal role in maintaining the economical growth of the European nations. Having a single currency and an economic and monetary union strengthens Europes role in international fora and organizations like the International Monetary Fund, World Bank, and Organization for Economic Co-operation and Development. (The Euro & You, 20 October 2008). Euro strengthens the position of all the European countries, having a single currency helps a lot in the growth of the country and in this particular case Europe on the whole. Euro is very frequently used in international manage it has very quickly become a part and parcel of the lives of many businessmen who carry egress trade at large scales. Countries also ha ve started using Euro as the currency for International trade. A single currency makes Europe a strong partner to trade with and facilitates access to a attested single market for foreign companies, who will benefit from lower costs of doing business in Europe. (The Euro & You, 20 October 2008).The investors get a lot of positive things by using the Euro as their currency they get more access to liquid financial markets and also they get a