1 / 9

Benefits of the Euro Currency for Individuals, Businesses, and Economies

Learn how the Euro currency benefits individuals, businesses, and economies. Discover low interest rates, price stability, simplified trading, and more.

aaronn
Download Presentation

Benefits of the Euro Currency for Individuals, Businesses, and Economies

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. THE EUROPEAN UNION Lesson 6 How do individuals, businesses and economies benefit from using the Euro?

  2. 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.

  3. 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

  4. 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

  5. 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)

  6. 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

  7. United in Diversity - The €uro

  8. United in Diversity - The €uro

  9. 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

More Related