Title: Advantages & disadvantages of single currencies
Headings: 
Advantages & disadvantages of single currencies
Advantages & disadvantages of single currencies / monetary integration
Arguments for a single currency
Arguments against a single currency

Content: Increased competition and efficiency - a single currency should encourage greater competition as there is greater transparency in prices. This should help increase efficiency as firms are forced to remain competitive. Increased inward investment - the single market in Europe has in excess of 200 million consumers and after enlargement in 2004 has in excess of 300 million. The Euro is one of the most significant world currencies. Both these things add up to the possibility of increased inward investment from the rest of the world into Europe. Elimination of exchange rate uncertainty - one of the problems with trading with other countries is that you never know which way the exchange rate will move. It may move in your favour, but it could equally move against you and end up costing you a lot more. This sort of uncertainty can hinder trade - particularly for smaller firms. A single currency gets rid of all this uncertainty within the single currency zone, and should encourage trade (within the zone). Arguments against a single currency
"One size fits all policy" - a single currency requires a single monetary policy.