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THE EURO

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THE EURO. How do individuals, businesses and economies benefit from using the Euro?. The Euro. € € € €. In 1999, the euro area was established as a currency in eleven of the then fifteen EU Member States.

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THE EURO

How do individuals, businesses and economies benefit from using the Euro?

the euro
The Euro

  • In 1999, the euro area was established as a currency in eleven of the then fifteen EU Member States.
  • Of the 27 EU Member States today, seventeen have adopted the euro. Estonia is the most recent member, having joined in Jan. 2011.
  • One of the striking benefits of a single European currency are low interest rates due to a high degree of price stability.
  • The euro is as stable and credible as the best-performing currencies previously used in the euro area countries.
before the euro a multitude of currencies
Before the Euroa multitude of currencies
  • Diversity of currencies:
  • Cumbersome inter-state trading
  • Comparing prices more difficult
  • Currency exchange can be unpredictable
  • in contracts/ loans
the euro a single currency for europeans
The Euroa single currency for Europeans

The 12 countries which introduced the Euro in 2001:

  • Italy
  • Ireland
  • Luxembourg
  • Netherlands
  • Portugal
  • Spain
  • Austria
  • Belgium
  • Finland
  • France
  • Germany
  • Greece
the euro a single currency for europeans1
The Euroa single currency for Europeans

Can be used everywhere in the euro area

4Coins:one side with national symbols, one side common

4Notes:no national side

New Euro countries since 2001:

EU countries using the euro in 2011EU countries part of ERM II (in between)

EU countries not using the euro

  • Cyprus (2006)
  • Malta (2006)
  • Slovakia (2008)
  • Slovenia (2009)
  • Estonia (2011)
some of the euro s benefits
Some of the Euro’s benefits
  • European Central
  • Bank keeps price
  • inflation low so
  • interest rates also
  • remain low
  • Currency
  • exchange costs
  • are eliminated
  • International
  • trade is
  • facilitated
  • Inflation remains
  • low and stable
  • Travelling is made
  • easier
  • Comparing prices
  • is made simpler
european central bank
European Central Bank
  • The European Central Bank (ECB) is the central bank for Europe's single currency, the euro.
  • The ECB’s main task is to maintain the euro's purchasing power and thus price stability in the euro area.
  • The euro area comprises the 17 European Union countries that have introduced the euro since 1999.
  • The ECB operates independently from Member State governments.

The euro was introduced in 1999

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