An Introduction to the Euro

Paper Summary:

This paper discusses the introduction of the euro to Western Europe. The global, economic, and political consequences resulting from the introduction of the euro are discussed, as well as other salient aspects of its introduction. These include the reasons for its introduction, its advantages and disadvantages, threats it faces, who will benefit and who will not benefit from its introduction, and how businesses and the individual will be affected by the euro.

From the Paper:

"January 1999 saw the advent of a new currency to be used in most of Western Europe " the Euro. Introduced by the European Union to promote trade and commerce, the Euro has replaced the national currencies of over a dozen Western countries (Estrada, Wechsler). Euro was introduced in 1999, but a three year transition period was granted by the European Commission to the countries adopting the euro " from January 1, 1999 to January 1 2002. In 2002, euro coins and notes came into the use of the common man."

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