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: 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. This means interest rates being set centrally for all Euro countries. Say an individual country is suffering a downturn in economic activity, but the rest are booming. The European Central Bank may want to increase interest rates, but that would simply worsen the recession for that country. Differing policy effects - even when countries are closely in line, it may be possible that a single policy will have different effects on different countries. For example, a much larger proportion of people own their own house in the UK than many other European countries.