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Has the euro made the EU more efficient and /or powerful?

Has the euro made the EU more efficient and /or powerful?

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Answer-The Euro has benefitted the European Union and made them more powerful. The euro is a single currency common to all the EU member states. It was created because of the many advantages and benefits it offers. A single currency for all the EU members eliminated the exchange cost and also the fluctuation risks by building a common market for trade. It brought about closer integration and co-operation in the EU and a stable currency which benefitted the economy of all the member states.

Other benefits of the euro include:

  • Stable prices for consumers.
  • More opportunities for businesses and markets
  • Highly integrated financial markets
  • A strong presence of the EU in the world economy.
  • Encouraged cross border transactions.
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