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European Currencies

Discover the advantages of European Union (EU) membership and being part of the Eurozone for Ireland. Learn about free trade, common currency, and economic cooperation within the EU. Find out how Eurozone membership simplifies currency conversion and boosts employment opportunities. Explore the impact of EU grants on Ireland's development and its access to a larger market for exports. Gain insights into the benefits for Ireland as the only English-speaking country using the Euro, attracting US companies seeking entry into the EU market.

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European Currencies

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  1. European Currencies

  2. What is the European Union? • It is a group of 27 countries who have come together to have free trade and economic co-operation.

  3. What are the aims of the EU? • Free trade: No customs/import duties between member countries. • Free movement of capital(money) & labour(workers). • Common currency: Only used by 15 member states at present.

  4. What are the benefits of EU membership to Ireland? • EU grants which have helped develop our country. • Larger market for selling our exports. • Ireland is the only english speaking conuntry using the euro, US co.’s set up here to have access to EU market.

  5. What is the Eurozone? • The 15 countries within the EU which have the Euro as their currency. • AKA “Euroland”.

  6. What are the benefits of being a member of Euroland to Irleand? • No need to convert currency when trading with these countries. • Easier to compare prices. • More employment due to US companies setting up in Ireland to have access to EU.

  7. Austria Belgium Cyprus Finland France Germany Greece Ireland Italy Luxemburg Malta Netherlands(Holland) Portugal Slovenia Spain Members of Euroland

  8. Bulgaria: Le Czech Rep: Czech Crown Denmark: Krone Estonia: Estonian Crown Hungary: Forint Latvia:Lats Lithuania: Litas Poland: Zloty Romania: Leu Slovakia: Koruna Sweden: Krona United Kingdom Pound Sterling The other 12 EU member states

  9. Converting Euro to foreign: Going abroad on holiday!!!(SMILE) Multiply by the sell rate. Converting foreign to Euro: Coming back from holiday. (BRON/SAD) Divide buy the buy rate. Rules for converting currency

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