This summary is based on the class presentation on the new currency of the Euro.Although, very nerves the class presentation on the Euro was very educational. The change in currency between eleven countries with Denmark, Greece, Sweden, and United Kingdom to follow is hard to grasp.There are many benefits that will come from this change that people have to realize.Change is something not everyone can enjoy.
With this change in the world's outlook on money, many benefits will be noticeable.The biggest benefit has to be the exchange rate between two countries.This will make trade and loans to other countries easier to run smoother.Strengthens the single market, to help people make more and spend less.People who live near borders will benefit maybe the most.They don't have to exchange their money to go to a store a block or two away, saves money and time.Not just in smaller markets but also in bigger markets it will be easier to compare prices and maybe help different races get alone better in the market place.
Countries will also benefit with Euros in currency.Euros will help promote convergence of national economics around Europe.Travelling will be much easier for consumers around Europe as well.I not having to change money from each country people are more likely to come to their countries.The low economic countries will see a big bushed to improve there status in the world.
The Euro started July 1, 1990 at which they tried to work out the problems they thought the Euro might have.All countries with good economic status didn't want any part of it.After nine years they put the Euro into effect on January 1, 1999 with the financial markets switching over.Since then eleven countries have joined the Euro market, with others looking in.They hope by 2002 all countries in will have Euro dollars in publics hands.