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: For example, economic stability is good for a member country’s economy, as it enables the government to plan for the future. But economic stability also benefits businesses by reducing uncertainty and encouraging investment. This, in turn, benefits the public through increased employment and better quality jobs. How does the euro produce these benefits? The euro has eliminated the costs of exchange rate fluctuations within the euro area. 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.