It is not necessarily needed, but for economic cooperation, it is easier if the countries are using the same currency.
It is not necessarily needed, but for economic cooperation, it is easier if the countries are using the same currency.
It is not necessarily needed, but for economic cooperation, it is easier if the countries are using the same currency.
It is not necessarily needed, but for economic cooperation, it is easier if the countries are using the same currency.
It is not necessarily needed, but for economic cooperation, it is easier if the countries are using the same currency.
It is not necessarily needed, but for economic cooperation, it is easier if the countries are using the same currency.
It is not necessarily needed, but for economic cooperation, it is easier if the countries are using the same currency.
It is not necessarily needed, but for economic cooperation, it is easier if the countries are using the same currency.
It is not necessarily needed, but for economic cooperation, it is easier if the countries are using the same currency.
It is not necessarily needed, but for economic cooperation, it is easier if the countries are using the same currency.
It is not necessarily needed, but for economic cooperation, it is easier if the countries are using the same currency.
The EU (European Union) is not having trouble creating a common currency. It has already created it as of 2002.
EUros
euro
the euro
EU, I think means euro, like the currency of Europe €
If EU represent EURO currency, the advantage is that in Europe many countries have adopted EU for transactions. Tourists and travellors need not exchange currency.
A trading bloc accounts for free trading among nations. There is freetrade althroughout the EU (in addition to other European countries). This helps the economies of the EU countries grow, in addition to having a universal currency: the Euro.
Hungary joined the EU in 2004, but has not yet joined the Euro currency.
Franks.
The EU has created a single market and strives to do so in the future.
The euro is the current Italian currency. Italy is a member of the European Union. Use of the euro isn't a requirement of EU membership. For example, Sweden is an EU member that doesn't use the euro. Italy is an example of an EU member that does.
The biggest savings is in trade between one country and the EU, or between the EU states. Conversion of currency is complex and needs a vast accounting system. Businesses would need to hedge against currencies if they sell products in different countries that use different currencies. One common currency in the EU makes this process much easier. Another advantage to the EU states is the power of their currency as a reserve currency for the world. A currency held by many states is more attractive as a reserve currency as the market for the currency is more liquid.