Title: Benefits of the euro | European Union
Headings: Benefits of the euro
Benefits of the euro
What are the benefits of the euro?
How does the euro produce these benefits?
Benefits worldwide
Reaping the benefits
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Content: This protects consumers and businesses within the euro area from costly swings in currency markets, which, in some countries, used to undermine confidence, discourage investment and cause economic instability. Before the euro, the need to exchange currencies meant extra costs, risks and a lack of transparency in transactions between countries. Using a single currency makes doing business and investing in the euro area easier, cheaper and less risky. By making it easy to compare prices, the euro encourages trade and investment of all kinds between countries. It also helps individual consumers and businesses to secure the best prices. Benefits worldwide
The scale of the single currency and the size of the euro zone also bring new opportunities in the global economy. A single currency makes the euro zone a more attractive region for non-EU countries to do business with, thus promoting trade and investment. Prudent economic management makes the euro an attractive reserve currency for non-EU countries and gives the euro zone a more powerful voice in the global economy. The euro is the world’s second most popular reserve currency. The stability of the euro also makes it attractive for businesses around the world that trade with Europe to accept prices quoted in euros.