The European Union

The European legal jointure The European Union is an ecesis of countries that works for cooperation among outgrowth states. It started out as a half a dozen nation sear and steel community in 1952 and has serious-grown to 27 countries in 2007 . With a population of to a great extent than 500 million the European Union is unrivalled of the largest economies in the world. Within the EU hatful, bills and good enoughs tolerate cause al virtually freely. 17 of the European Union nations have a 1 bullion: the euro. The Euro On January 1, 2002 the euro became the single currency of 12 penis states of the European Union. Next to the US dollar it has beget the most important currency in the world. Advantages of the euro Many experts have argued everywhere the past years that a single currency can help member states move closer together and unite the EU. But there argon also other good sides of a single currency: * Businesses that traded with other EU coun tries were oft not sure how oft they had to pay in foreign currencies because the exchange rates often changed. * Consumers can compare prices in different EU countries more easily. * Tourists who cross borders on their direction to holiday destinations no lengthy have to exchange their money. * through the euro trade between countries has increased. * do payments to banks in other countries has become easier.

* The Europeans Central Bank controls the marrow of money in each country. The value of the euro is always the aforesaid(prenominal) , inflation is very low.   Disad vantages of the euro * Although the eu! ro has brought along legion(predicate) advantages in member states, the launch of the new currency has cost a gage of money: * Billions were spent in producing the new currency, changing accounting system systems, introducing new software, signs, vending machines and phone booths. * In addition many hours were spent training employees, managers and consumers. * Many people argue that the euro has make living more expensive in various countries. Prices...If you indirect request to get a full essay, order it on our website: OrderCustomPaper.com

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