Title: The Success of the European Union - European Law Essays
Headings: The Success of the European Union
The Success of the European Union
Success of the EU

Content: oAgriculture oAudiovisual and Media oBudget oCompetition oConsumers oCulture oCustoms oDevelopment oEconomic and Monetary Affairs. oEducation, Training, Youth oEmployment and Social Affairs oEnergy oEnlargement oEnterprise oEnvironment oExternal Relations oExternal Trade oFight against fraud oFisheries and Maritime Affairs oFood Safety oForeign and Security Policy oHuman rights oHumanitarian aid oInformation Society oInstitutional affairs oInternal Market oJustice, freedom and security oPublic Health oRegional Policy oResearch and Innovation oTaxation oTransport European Union sets standards to all these subjects, and they apply them to all the countries equally and fairly. Another major success that the European Union has achieved is bringing to life “The euro” which is the single currency shared currently by 15 of the European Union's Member States, which together make up the euro area. The introduction of the euro in 1999 was a major step in European integration. Around 320 million EU citizens now use it as their currency and enjoy its benefits, which will spread even more widely as other EU countries adopt the euro. The euro is not the currency of all EU Member States. Two countries (Denmark and the United Kingdom) agreed an ‘opt-out’ clause in the Treaty exempting them from participation. The euro was created because a single currency offers many advantages and benefits over the previous situation where each Member State had its own currency. Not only are fluctuation risks and exchange costs eliminated and the single market strengthened, but the euro also means closer co-operation among Member States for a stable currency and economy to the benefit of us all. The benefits of the euro are diverse and are felt on different scales, from individuals and businesses to whole economies.