Euro Single Currency

Euro Single Currency
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Euro Single Currency
The European Union introduced the euro as a new currency in 2000 with a core objective of providing a common currency across Europe. One of the core objectives of creating a single currency was to promote peace and stability among the European countries. The primary assumption was that most nations are less likely to go to war if they trade and share institutions. According to a study by Eichengreen (2018), the circulation of the euro began in 2002, taking over from the former national currencies and expanded slowly to different areas across Europe. Although people in each country continued to use their legal tender, the euro was a domestic exchange that replaced local currency in various member states.
The euro provided numerous economic advantages to the citizens across the European Union. For instance, citizens would travel conveniently without any need to exchange money. Notably, European traders benefited from minimal business risks. Accordingly, citizens have an opportun...