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: Advantages & disadvantages of single currencies

Advantages & disadvantages of single currencies
Advantages & disadvantages of single currencies / monetary integration
A single currency is when a number of countries join their currencies together into one single currency. The main example of this is the introduction of the Euro in the European Union. This was introduced in January 1999 with the full changeover to notes and coins taking place in January 2001. This meant that the Eurozone was made up of 12 countries with three EU members (UK, Denmark and Greece) not joining the single currency. The enlargement of the EU on May 1st 2004 further expanded the Eurozone. So what arguments are there for joining a single currency? There are convincing arguments on both sides, and below are some of them. This is not a complete list, but offers some arguments to help you draw your own conclusions. The arguments are phrased in terms of joining the Euro, but could apply to any single currency area. Arguments for a single currency
Elimination of the costs of converting currencies - converting between currencies has a cost for individuals and firms.