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Euro myths : think againEuro myth : the
Euro myths : think againEuro myth : the euro caused By lowering ination and increasing competition, the euro actually makes life cheaper! As a mat-ter of fact, consumer price data shows that, on average, euro adoption caused far fewer price overall eect on prices was very small (a one-o the euros introduction in transferring 100 has 24 to 2.40 since rules Euro myth : the euro means sovereigntySome sovereignty is voluntarily pooled when a country adopts the euro, as governments must co-ordinate their economic policies and control their spending. In todays globalised world, national sov-ereignty is a relative concept. By coordinating their policies, governments can actually gain inuence and power in the economic sphere. Facts and guresFor the introduction of the euro, 38 billion coins came into circulation. Thats around 124 euro coins for every person in the euro area at that timeSupporting job creationReducing transfer feesCompeting worldwide1.5m 199219992009 24 2.402001Whos who? The Commission, and its department for Econo-mic and Financial Aairs (DG ECFIN), in particular, legislation explained above. makes decisions on monetary policy in the euro area with the aim of maintaining price stability.European Parliament (EP) The European Parliament is the legislative body of the nance ministers of all EU Member States ; Whats in it for Europe?More integrated nancial marketsEconomic and monetary integration makes it much easier for investment capital to move to where it can be used most eciently. An ex-panded euro area nancial market, which is pro-perly regulated and supervised, also makes more capital available for investment and allows in-vestors to spread risks more widely. international presencemote stability in global markets. The euro is now the US dollar. As one of the most important eco-Euro benets : A quick recapThe EMU and the euro give us :low ination and lower interest rates more integrated nancial markets with adequate a better performing economya framework for sounder public nances a stronger voice for the EU in the global economy The euro is being increasingly used for interna-and availability, and the condence it inspires. This allows euro area businesses to pay, and be global currency uctuations and easing trade for Rules of the game : adopting & governingThe recent nancial and sovereign debt crisis re-vealed weaknesses in the framework for coordi-tries wishing to join, however, must full a number of entry criteria to show that their economies are ready to have the euro as their currency. These public nances are on a sustainable footing with reference to benchmarks on the level of budget terms of low ination rates and long-term inte-as to make a success of being in The euro oers many potential benets, but only to keep public debt at sustainable levels. This through a framework known as the Stability and Growth Pact. as a result of the economic crisis. Governments must now submit their dra budget plans for scrutiny by the Commission and other euro area promoting growthSound public nances are not the only key to crisis also revealed the need for a new approach to the regulation of nancial services and for clo-sely monitoring nancial market developments. established to make sure that euro area coun-petitiveness and promote growth as well as jobs. damaging bubbles in housing markets. examined and addressed. The framework for ha-problems of economic governance, we should not forget the huge benets that the euro has Whats in it for citizens? suppliers. This means that we benet from lower prices and price increases are kept in check.simply easier! Within the euro area, we dont have to calculate exchange rates, we can now clearly compare The ination rate in the euro area has been around 2 % each year since the start of the euro. This is remarkably stable and low when we compare it to the rate of 20 % (and sometimes more) that some Cheaper and easier travelmade far easier than before - we do not need to exchange currencies and therefore we do not pay any exchange fees. in terms of value, between 20 % and 25 % of Whats in it for business?Its simple : Lower interest rates =Low ination keeps interest rates low.Businesses can borrow more cheaply to invest in, for example, new machinery or research productivity.Economic growth and more and better jobs.Today, European businesses are in a better po-sition to make long-term investments. Interest rates are stable so its easier to predict whether Lower risks and reduced costs rates. To cope with this risk, companies tended to trade. This risk is now gone.Additionally, trade within a single market using trade across many markets using multiple curren-cies. Before the euro, the cost of exchanging cur-rencies in the EU was estimated at 20-25 bil-lion annually. These costs have now disappeared Weighing up the benetsFor more infoThe euro :www.ec.europa.eu/euroEuropean Commission Directorate-General for Economic and Financial Aairs :www.ec.europa.eu/econom
y_nance/index_en.htmThe European Commis
y_nance/index_en.htmThe European Commission :www.ec.europa.euThe European Central Bank :www.ecb.euReproduction is authorised provided the source is acknowledged.FranceFinlandSloveniaSlovakiaKC-06-14-059-EN-Nregisters, purses and pockets for the rst time. This marked another major step towards European economic integration, a journey which began with the foun-You might be surprised to learn just how well-trav-deloupe, Martinique and Saint-Barthélémy), in the lantic Ocean (Azores, Canaries, Madeira and Saint lilla on the north coast of Africa and French Guiana in South America. It is also used in Monaco, San Marino, the Vatican City and Andorra as the na-tional currency, and in Kosovo and Montenegro as currency. Whats the aim?The euro and the Economic and Monetary Union aim to allow our economies to function more eciently and eectively, ultimately oering Europeans more jobs and greater prosperity.The symbol of the euro is .Various security features have been incorporated them to check for yourself!Euro coins have a uniform design on one side and a country-specic design on the other.Then and now Steps towards the euroThe European Economic Community is founded, opening a common market for goods, to the euroEconomic and Financial AairsEuro myths : think againEuro myth : the euro caused By lowering ination and increasing competition, the euro actually makes life cheaper! As a mat-ter of fact, consumer price data shows that, on average, euro adoption caused far fewer price overall eect on prices was very small (a one-o the euros introduction in transferring 100 has 24 to 2.40 since rules Euro myth : the euro means sovereigntySome sovereignty is voluntarily pooled when a country adopts the euro, as governments must co-ordinate their economic policies and control their spending. In todays globalised world, national sov-ereignty is a relative concept. By coordinating their policies, governments can actually gain inuence and power in the economic sphere. Facts and guresFor the introduction of the euro, 38 billion coins came into circulation. Thats around 124 euro coins for every person in the euro area at that timeSupporting job creationReducing transfer feesCompeting worldwide1.5m 199219992009 24 2.402001Whos who? The Commission, and its department for Econo-mic and Financial Aairs (DG ECFIN), in particular, legislation explained above. makes decisions on monetary policy in the euro area with the aim of maintaining price stability.European Parliament (EP) The European Parliament is the legislative body of the nance ministers of all EU Member States ; Whats in it for Europe?More integrated nancial marketsEconomic and monetary integration makes it much easier for investment capital to move to where it can be used most eciently. An ex-panded euro area nancial market, which is pro-perly regulated and supervised, also makes more capital available for investment and allows in-vestors to spread risks more widely. international presencemote stability in global markets. The euro is now the US dollar. As one of the most important eco-Euro benets : A quick recapThe EMU and the euro give us :low ination and lower interest rates more integrated nancial markets with adequate a better performing economya framework for sounder public nances a stronger voice for the EU in the global economy The euro is being increasingly used for interna-and availability, and the condence it inspires. This allows euro area businesses to pay, and be global currency uctuations and easing trade for Rules of the game : adopting & governingThe recent nancial and sovereign debt crisis re-vealed weaknesses in the framework for coordi-tries wishing to join, however, must full a number of entry criteria to show that their economies are ready to have the euro as their currency. These public nances are on a sustainable footing with reference to benchmarks on the level of budget terms of low ination rates and long-term inte-as to make a success of being in The euro oers many potential benets, but only to keep public debt at sustainable levels. This through a framework known as the Stability and Growth Pact. as a result of the economic crisis. Governments must now submit their dra budget plans for scrutiny by the Commission and other euro area promoting growthSound public nances are not the only key to crisis also revealed the need for a new approach to the regulation of nancial services and for clo-sely monitoring nancial market developments. established to make sure that euro area coun-petitiveness and promote growth as well as jobs. damaging bubbles in housing markets. examined and addressed. The framework for ha-problems of economic governance, we should not forget the huge benets that the euro has Whats in it for citizens? suppliers. This means that we benet from lower prices and price increases are kept in check.simply easier! Within the euro area, we dont have to calculate exchange rates, we can now clearly compare The ination rate
in the euro area has been around 2 % ea
in the euro area has been around 2 % each year since the start of the euro. This is remarkably stable and low when we compare it to the rate of 20 % (and sometimes more) that some Cheaper and easier travelmade far easier than before - we do not need to exchange currencies and therefore we do not pay any exchange fees. in terms of value, between 20 % and 25 % of Whats in it for business?Its simple : Lower interest rates =Low ination keeps interest rates low.Businesses can borrow more cheaply to invest in, for example, new machinery or research productivity.Economic growth and more and better jobs.Today, European businesses are in a better po-sition to make long-term investments. Interest rates are stable so its easier to predict whether Lower risks and reduced costs rates. To cope with this risk, companies tended to trade. This risk is now gone.Additionally, trade within a single market using trade across many markets using multiple curren-cies. Before the euro, the cost of exchanging cur-rencies in the EU was estimated at 20-25 bil-lion annually. These costs have now disappeared Weighing up the benetsFor more infoThe euro :www.ec.europa.eu/euroEuropean Commission Directorate-General for Economic and Financial Aairs :www.ec.europa.eu/economy_nance/index_en.htmThe European Commission :www.ec.europa.euThe European Central Bank :www.ecb.euReproduction is authorised provided the source is acknowledged.FranceFinlandSloveniaSlovakiaKC-06-14-059-EN-Nregisters, purses and pockets for the rst time. This marked another major step towards European economic integration, a journey which began with the foun-You might be surprised to learn just how well-trav-deloupe, Martinique and Saint-Barthélémy), in the lantic Ocean (Azores, Canaries, Madeira and Saint lilla on the north coast of Africa and French Guiana in South America. It is also used in Monaco, San Marino, the Vatican City and Andorra as the na-tional currency, and in Kosovo and Montenegro as currency. Whats the aim?The euro and the Economic and Monetary Union aim to allow our economies to function more eciently and eectively, ultimately oering Europeans more jobs and greater prosperity.The symbol of the euro is .Various security features have been incorporated them to check for yourself!Euro coins have a uniform design on one side and a country-specic design on the other.Then and now Steps towards the euroThe European Economic Community is founded, opening a common market for goods, to the euroEconomic and Financial AairsEuro myths : think againEuro myth : the euro caused By lowering ination and increasing competition, the euro actually makes life cheaper! As a mat-ter of fact, consumer price data shows that, on average, euro adoption caused far fewer price overall eect on prices was very small (a one-o the euros introduction in transferring 100 has 24 to 2.40 since rules Euro myth : the euro means sovereigntySome sovereignty is voluntarily pooled when a country adopts the euro, as governments must co-ordinate their economic policies and control their spending. In todays globalised world, national sov-ereignty is a relative concept. By coordinating their policies, governments can actually gain inuence and power in the economic sphere. Facts and guresFor the introduction of the euro, 38 billion coins came into circulation. Thats around 124 euro coins for every person in the euro area at that timeSupporting job creationReducing transfer feesCompeting worldwide1.5m 199219992009 24 2.402001Whos who? The Commission, and its department for Econo-mic and Financial Aairs (DG ECFIN), in particular, legislation explained above. makes decisions on monetary policy in the euro area with the aim of maintaining price stability.European Parliament (EP) The European Parliament is the legislative body of the nance ministers of all EU Member States ; Whats in it for Europe?More integrated nancial marketsEconomic and monetary integration makes it much easier for investment capital to move to where it can be used most eciently. An ex-panded euro area nancial market, which is pro-perly regulated and supervised, also makes more capital available for investment and allows in-vestors to spread risks more widely. international presencemote stability in global markets. The euro is now the US dollar. As one of the most important eco-Euro benets : A quick recapThe EMU and the euro give us :low ination and lower interest rates more integrated nancial markets with adequate a better performing economya framework for sounder public nances a stronger voice for the EU in the global economy The euro is being increasingly used for interna-and availability, and the condence it inspires. This allows euro area businesses to pay, and be global currency uctuations and easing trade for Rules of the game : adopting & governingThe recent nancial and sovereign debt crisis re-vealed weaknesses in the framework for coordi-tries wishing to join, however, must full a number of entry criteria t
o show that their economies are ready to
o show that their economies are ready to have the euro as their currency. These public nances are on a sustainable footing with reference to benchmarks on the level of budget terms of low ination rates and long-term inte-as to make a success of being in The euro oers many potential benets, but only to keep public debt at sustainable levels. This through a framework known as the Stability and Growth Pact. as a result of the economic crisis. Governments must now submit their dra budget plans for scrutiny by the Commission and other euro area promoting growthSound public nances are not the only key to crisis also revealed the need for a new approach to the regulation of nancial services and for clo-sely monitoring nancial market developments. established to make sure that euro area coun-petitiveness and promote growth as well as jobs. damaging bubbles in housing markets. examined and addressed. The framework for ha-problems of economic governance, we should not forget the huge benets that the euro has Whats in it for citizens? suppliers. This means that we benet from lower prices and price increases are kept in check.simply easier! Within the euro area, we dont have to calculate exchange rates, we can now clearly compare The ination rate in the euro area has been around 2 % each year since the start of the euro. This is remarkably stable and low when we compare it to the rate of 20 % (and sometimes more) that some Cheaper and easier travelmade far easier than before - we do not need to exchange currencies and therefore we do not pay any exchange fees. in terms of value, between 20 % and 25 % of Whats in it for business?Its simple : Lower interest rates =Low ination keeps interest rates low.Businesses can borrow more cheaply to invest in, for example, new machinery or research productivity.Economic growth and more and better jobs.Today, European businesses are in a better po-sition to make long-term investments. Interest rates are stable so its easier to predict whether Lower risks and reduced costs rates. To cope with this risk, companies tended to trade. This risk is now gone.Additionally, trade within a single market using trade across many markets using multiple curren-cies. Before the euro, the cost of exchanging cur-rencies in the EU was estimated at 20-25 bil-lion annually. These costs have now disappeared Weighing up the benetsFor more infoThe euro :www.ec.europa.eu/euroEuropean Commission Directorate-General for Economic and Financial Aairs :www.ec.europa.eu/economy_nance/index_en.htmThe European Commission :www.ec.europa.euThe European Central Bank :www.ecb.euReproduction is authorised provided the source is acknowledged.FranceFinlandSloveniaSlovakiaKC-06-14-059-EN-Nregisters, purses and pockets for the rst time. This marked another major step towards European economic integration, a journey which began with the foun-You might be surprised to learn just how well-trav-deloupe, Martinique and Saint-Barthélémy), in the lantic Ocean (Azores, Canaries, Madeira and Saint lilla on the north coast of Africa and French Guiana in South America. It is also used in Monaco, San Marino, the Vatican City and Andorra as the na-tional currency, and in Kosovo and Montenegro as currency. Whats the aim?The euro and the Economic and Monetary Union aim to allow our economies to function more eciently and eectively, ultimately oering Europeans more jobs and greater prosperity.The symbol of the euro is .Various security features have been incorporated them to check for yourself!Euro coins have a uniform design on one side and a country-specic design on the other.Then and now Steps towards the euroThe European Economic Community is founded, opening a common market for goods, to the euroEconomic and Financial AairsEuro myths : think againEuro myth : the euro caused By lowering ination and increasing competition, the euro actually makes life cheaper! As a mat-ter of fact, consumer price data shows that, on average, euro adoption caused far fewer price overall eect on prices was very small (a one-o the euros introduction in transferring 100 has 24 to 2.40 since rules Euro myth : the euro means sovereigntySome sovereignty is voluntarily pooled when a country adopts the euro, as governments must co-ordinate their economic policies and control their spending. In todays globalised world, national sov-ereignty is a relative concept. By coordinating their policies, governments can actually gain inuence and power in the economic sphere. Facts and guresFor the introduction of the euro, 38 billion coins came into circulation. Thats around 124 euro coins for every person in the euro area at that timeSupporting job creationReducing transfer feesCompeting worldwide1.5m 199219992009 24 2.402001Whos who? The Commission, and its department for Econo-mic and Financial Aairs (DG ECFIN), in particular, legislation explained above. makes decisions on monetary policy in the euro area with the aim of maintaining price stability.European P
arliament (EP) The European Parliament
arliament (EP) The European Parliament is the legislative body of the nance ministers of all EU Member States ; Whats in it for Europe?More integrated nancial marketsEconomic and monetary integration makes it much easier for investment capital to move to where it can be used most eciently. An ex-panded euro area nancial market, which is pro-perly regulated and supervised, also makes more capital available for investment and allows in-vestors to spread risks more widely. international presencemote stability in global markets. The euro is now the US dollar. As one of the most important eco-Euro benets : A quick recapThe EMU and the euro give us :low ination and lower interest rates more integrated nancial markets with adequate a better performing economya framework for sounder public nances a stronger voice for the EU in the global economy The euro is being increasingly used for interna-and availability, and the condence it inspires. This allows euro area businesses to pay, and be global currency uctuations and easing trade for Rules of the game : adopting & governingThe recent nancial and sovereign debt crisis re-vealed weaknesses in the framework for coordi-tries wishing to join, however, must full a number of entry criteria to show that their economies are ready to have the euro as their currency. These public nances are on a sustainable footing with reference to benchmarks on the level of budget terms of low ination rates and long-term inte-as to make a success of being in The euro oers many potential benets, but only to keep public debt at sustainable levels. This through a framework known as the Stability and Growth Pact. as a result of the economic crisis. Governments must now submit their dra budget plans for scrutiny by the Commission and other euro area promoting growthSound public nances are not the only key to crisis also revealed the need for a new approach to the regulation of nancial services and for clo-sely monitoring nancial market developments. established to make sure that euro area coun-petitiveness and promote growth as well as jobs. damaging bubbles in housing markets. examined and addressed. The framework for ha-problems of economic governance, we should not forget the huge benets that the euro has Whats in it for citizens? suppliers. This means that we benet from lower prices and price increases are kept in check.simply easier! Within the euro area, we dont have to calculate exchange rates, we can now clearly compare The ination rate in the euro area has been around 2 % each year since the start of the euro. This is remarkably stable and low when we compare it to the rate of 20 % (and sometimes more) that some Cheaper and easier travelmade far easier than before - we do not need to exchange currencies and therefore we do not pay any exchange fees. in terms of value, between 20 % and 25 % of Whats in it for business?Its simple : Lower interest rates =Low ination keeps interest rates low.Businesses can borrow more cheaply to invest in, for example, new machinery or research productivity.Economic growth and more and better jobs.Today, European businesses are in a better po-sition to make long-term investments. Interest rates are stable so its easier to predict whether Lower risks and reduced costs rates. To cope with this risk, companies tended to trade. This risk is now gone.Additionally, trade within a single market using trade across many markets using multiple curren-cies. Before the euro, the cost of exchanging cur-rencies in the EU was estimated at 20-25 bil-lion annually. These costs have now disappeared Weighing up the benetsFor more infoThe euro :www.ec.europa.eu/euroEuropean Commission Directorate-General for Economic and Financial Aairs :www.ec.europa.eu/economy_nance/index_en.htmThe European Commission :www.ec.europa.euThe European Central Bank :www.ecb.euReproduction is authorised provided the source is acknowledged.FranceFinlandSloveniaSlovakiaKC-06-14-059-EN-Nregisters, purses and pockets for the rst time. This marked another major step towards European economic integration, a journey which began with the foun-You might be surprised to learn just how well-trav-deloupe, Martinique and Saint-Barthélémy), in the lantic Ocean (Azores, Canaries, Madeira and Saint lilla on the north coast of Africa and French Guiana in South America. It is also used in Monaco, San Marino, the Vatican City and Andorra as the na-tional currency, and in Kosovo and Montenegro as currency. Whats the aim?The euro and the Economic and Monetary Union aim to allow our economies to function more eciently and eectively, ultimately oering Europeans more jobs and greater prosperity.The symbol of the euro is .Various security features have been incorporated them to check for yourself!Euro coins have a uniform design on one side and a country-specic design on the other.Then and now Steps towards the euroThe European Economic Community is founded, opening a common market for goods, to the euroEconomic and
Financial AairsEuro myths : think aga
Financial AairsEuro myths : think againEuro myth : the euro caused By lowering ination and increasing competition, the euro actually makes life cheaper! As a mat-ter of fact, consumer price data shows that, on average, euro adoption caused far fewer price overall eect on prices was very small (a one-o the euros introduction in transferring 100 has 24 to 2.40 since rules Euro myth : the euro means sovereigntySome sovereignty is voluntarily pooled when a country adopts the euro, as governments must co-ordinate their economic policies and control their spending. In todays globalised world, national sov-ereignty is a relative concept. By coordinating their policies, governments can actually gain inuence and power in the economic sphere. Facts and guresFor the introduction of the euro, 38 billion coins came into circulation. Thats around 124 euro coins for every person in the euro area at that timeSupporting job creationReducing transfer feesCompeting worldwide1.5m 199219992009 24 2.402001Whos who? The Commission, and its department for Econo-mic and Financial Aairs (DG ECFIN), in particular, legislation explained above. makes decisions on monetary policy in the euro area with the aim of maintaining price stability.European Parliament (EP) The European Parliament is the legislative body of the nance ministers of all EU Member States ; Whats in it for Europe?More integrated nancial marketsEconomic and monetary integration makes it much easier for investment capital to move to where it can be used most eciently. An ex-panded euro area nancial market, which is pro-perly regulated and supervised, also makes more capital available for investment and allows in-vestors to spread risks more widely. international presencemote stability in global markets. The euro is now the US dollar. As one of the most important eco-Euro benets : A quick recapThe EMU and the euro give us :low ination and lower interest rates more integrated nancial markets with adequate a better performing economya framework for sounder public nances a stronger voice for the EU in the global economy The euro is being increasingly used for interna-and availability, and the condence it inspires. This allows euro area businesses to pay, and be global currency uctuations and easing trade for Rules of the game : adopting & governingThe recent nancial and sovereign debt crisis re-vealed weaknesses in the framework for coordi-tries wishing to join, however, must full a number of entry criteria to show that their economies are ready to have the euro as their currency. These public nances are on a sustainable footing with reference to benchmarks on the level of budget terms of low ination rates and long-term inte-as to make a success of being in The euro oers many potential benets, but only to keep public debt at sustainable levels. This through a framework known as the Stability and Growth Pact. as a result of the economic crisis. Governments must now submit their dra budget plans for scrutiny by the Commission and other euro area promoting growthSound public nances are not the only key to crisis also revealed the need for a new approach to the regulation of nancial services and for clo-sely monitoring nancial market developments. established to make sure that euro area coun-petitiveness and promote growth as well as jobs. damaging bubbles in housing markets. examined and addressed. The framework for ha-problems of economic governance, we should not forget the huge benets that the euro has Whats in it for citizens? suppliers. This means that we benet from lower prices and price increases are kept in check.simply easier! Within the euro area, we dont have to calculate exchange rates, we can now clearly compare The ination rate in the euro area has been around 2 % each year since the start of the euro. This is remarkably stable and low when we compare it to the rate of 20 % (and sometimes more) that some Cheaper and easier travelmade far easier than before - we do not need to exchange currencies and therefore we do not pay any exchange fees. in terms of value, between 20 % and 25 % of Whats in it for business?Its simple : Lower interest rates =Low ination keeps interest rates low.Businesses can borrow more cheaply to invest in, for example, new machinery or research productivity.Economic growth and more and better jobs.Today, European businesses are in a better po-sition to make long-term investments. Interest rates are stable so its easier to predict whether Lower risks and reduced costs rates. To cope with this risk, companies tended to trade. This risk is now gone.Additionally, trade within a single market using trade across many markets using multiple curren-cies. Before the euro, the cost of exchanging cur-rencies in the EU was estimated at 20-25 bil-lion annually. These costs have now disappeared Weighing up the benetsFor more infoThe euro :www.ec.europa.eu/euroEuropean Commission Directorate-General for Economic and Financial Aairs :www.e
c.europa.eu/economy_nance/index_en.htmT
c.europa.eu/economy_nance/index_en.htmThe European Commission :www.ec.europa.euThe European Central Bank :www.ecb.euReproduction is authorised provided the source is acknowledged.FranceFinlandSloveniaSlovakiaKC-06-14-059-EN-Nregisters, purses and pockets for the rst time. This marked another major step towards European economic integration, a journey which began with the foun-You might be surprised to learn just how well-trav-deloupe, Martinique and Saint-Barthélémy), in the lantic Ocean (Azores, Canaries, Madeira and Saint lilla on the north coast of Africa and French Guiana in South America. It is also used in Monaco, San Marino, the Vatican City and Andorra as the na-tional currency, and in Kosovo and Montenegro as currency. Whats the aim?The euro and the Economic and Monetary Union aim to allow our economies to function more eciently and eectively, ultimately oering Europeans more jobs and greater prosperity.The symbol of the euro is .Various security features have been incorporated them to check for yourself!Euro coins have a uniform design on one side and a country-specic design on the other.Then and now Steps towards the euroThe European Economic Community is founded, opening a common market for goods, to the euroEconomic and Financial AairsEuro myths : think againEuro myth : the euro caused By lowering ination and increasing competition, the euro actually makes life cheaper! As a mat-ter of fact, consumer price data shows that, on average, euro adoption caused far fewer price overall eect on prices was very small (a one-o the euros introduction in transferring 100 has 24 to 2.40 since rules Euro myth : the euro means sovereigntySome sovereignty is voluntarily pooled when a country adopts the euro, as governments must co-ordinate their economic policies and control their spending. In todays globalised world, national sov-ereignty is a relative concept. By coordinating their policies, governments can actually gain inuence and power in the economic sphere. Facts and guresFor the introduction of the euro, 38 billion coins came into circulation. Thats around 124 euro coins for every person in the euro area at that timeSupporting job creationReducing transfer feesCompeting worldwide1.5m 199219992009 24 2.402001Whos who? The Commission, and its department for Econo-mic and Financial Aairs (DG ECFIN), in particular, legislation explained above. makes decisions on monetary policy in the euro area with the aim of maintaining price stability.European Parliament (EP) The European Parliament is the legislative body of the nance ministers of all EU Member States ; Whats in it for Europe?More integrated nancial marketsEconomic and monetary integration makes it much easier for investment capital to move to where it can be used most eciently. An ex-panded euro area nancial market, which is pro-perly regulated and supervised, also makes more capital available for investment and allows in-vestors to spread risks more widely. international presencemote stability in global markets. The euro is now the US dollar. As one of the most important eco-Euro benets : A quick recapThe EMU and the euro give us :low ination and lower interest rates more integrated nancial markets with adequate a better performing economya framework for sounder public nances a stronger voice for the EU in the global economy The euro is being increasingly used for interna-and availability, and the condence it inspires. This allows euro area businesses to pay, and be global currency uctuations and easing trade for Rules of the game : adopting & governingThe recent nancial and sovereign debt crisis re-vealed weaknesses in the framework for coordi-tries wishing to join, however, must full a number of entry criteria to show that their economies are ready to have the euro as their currency. These public nances are on a sustainable footing with reference to benchmarks on the level of budget terms of low ination rates and long-term inte-as to make a success of being in The euro oers many potential benets, but only to keep public debt at sustainable levels. This through a framework known as the Stability and Growth Pact. as a result of the economic crisis. Governments must now submit their dra budget plans for scrutiny by the Commission and other euro area promoting growthSound public nances are not the only key to crisis also revealed the need for a new approach to the regulation of nancial services and for clo-sely monitoring nancial market developments. established to make sure that euro area coun-petitiveness and promote growth as well as jobs. damaging bubbles in housing markets. examined and addressed. The framework for ha-problems of economic governance, we should not forget the huge benets that the euro has Whats in it for citizens? suppliers. This means that we benet from lower prices and price increases are kept in check.simply easier! Within the euro area, we dont have to calculate exchange rates, we can now clearly compare
The ination rate in the euro area has
The ination rate in the euro area has been around 2 % each year since the start of the euro. This is remarkably stable and low when we compare it to the rate of 20 % (and sometimes more) that some Cheaper and easier travelmade far easier than before - we do not need to exchange currencies and therefore we do not pay any exchange fees. in terms of value, between 20 % and 25 % of Whats in it for business?Its simple : Lower interest rates =Low ination keeps interest rates low.Businesses can borrow more cheaply to invest in, for example, new machinery or research productivity.Economic growth and more and better jobs.Today, European businesses are in a better po-sition to make long-term investments. Interest rates are stable so its easier to predict whether Lower risks and reduced costs rates. To cope with this risk, companies tended to trade. This risk is now gone.Additionally, trade within a single market using trade across many markets using multiple curren-cies. Before the euro, the cost of exchanging cur-rencies in the EU was estimated at 20-25 bil-lion annually. These costs have now disappeared Weighing up the benetsFor more infoThe euro :www.ec.europa.eu/euroEuropean Commission Directorate-General for Economic and Financial Aairs :www.ec.europa.eu/economy_nance/index_en.htmThe European Commission :www.ec.europa.euThe European Central Bank :www.ecb.euReproduction is authorised provided the source is acknowledged.FranceFinlandSloveniaSlovakiaKC-06-14-059-EN-Nregisters, purses and pockets for the rst time. This marked another major step towards European economic integration, a journey which began with the foun-You might be surprised to learn just how well-trav-deloupe, Martinique and Saint-Barthélémy), in the lantic Ocean (Azores, Canaries, Madeira and Saint lilla on the north coast of Africa and French Guiana in South America. It is also used in Monaco, San Marino, the Vatican City and Andorra as the na-tional currency, and in Kosovo and Montenegro as currency. Whats the aim?The euro and the Economic and Monetary Union aim to allow our economies to function more eciently and eectively, ultimately oering Europeans more jobs and greater prosperity.The symbol of the euro is .Various security features have been incorporated them to check for yourself!Euro coins have a uniform design on one side and a country-specic design on the other.Then and now Steps towards the euroThe European Economic Community is founded, opening a common market for goods, to the euroEconomic and Financial AairsEuro myths : think againEuro myth : the euro caused By lowering ination and increasing competition, the euro actually makes life cheaper! As a mat-ter of fact, consumer price data shows that, on average, euro adoption caused far fewer price overall eect on prices was very small (a one-o the euros introduction in transferring 100 has 24 to 2.40 since rules Euro myth : the euro means sovereigntySome sovereignty is voluntarily pooled when a country adopts the euro, as governments must co-ordinate their economic policies and control their spending. In todays globalised world, national sov-ereignty is a relative concept. By coordinating their policies, governments can actually gain inuence and power in the economic sphere. Facts and guresFor the introduction of the euro, 38 billion coins came into circulation. Thats around 124 euro coins for every person in the euro area at that timeSupporting job creationReducing transfer feesCompeting worldwide1.5m 199219992009 24 2.402001Whos who? The Commission, and its department for Econo-mic and Financial Aairs (DG ECFIN), in particular, legislation explained above. makes decisions on monetary policy in the euro area with the aim of maintaining price stability.European Parliament (EP) The European Parliament is the legislative body of the nance ministers of all EU Member States ; Whats in it for Europe?More integrated nancial marketsEconomic and monetary integration makes it much easier for investment capital to move to where it can be used most eciently. An ex-panded euro area nancial market, which is pro-perly regulated and supervised, also makes more capital available for investment and allows in-vestors to spread risks more widely. international presencemote stability in global markets. The euro is now the US dollar. As one of the most important eco-Euro benets : A quick recapThe EMU and the euro give us :low ination and lower interest rates more integrated nancial markets with adequate a better performing economya framework for sounder public nances a stronger voice for the EU in the global economy The euro is being increasingly used for interna-and availability, and the condence it inspires. This allows euro area businesses to pay, and be global currency uctuations and easing trade for Rules of the game : adopting & governingThe recent nancial and sovereign debt crisis re-vealed weaknesses in the framework for coordi-tries wishing to join, however, must full a number o
f entry criteria to show that their econ
f entry criteria to show that their economies are ready to have the euro as their currency. These public nances are on a sustainable footing with reference to benchmarks on the level of budget terms of low ination rates and long-term inte-as to make a success of being in The euro oers many potential benets, but only to keep public debt at sustainable levels. This through a framework known as the Stability and Growth Pact. as a result of the economic crisis. Governments must now submit their dra budget plans for scrutiny by the Commission and other euro area promoting growthSound public nances are not the only key to crisis also revealed the need for a new approach to the regulation of nancial services and for clo-sely monitoring nancial market developments. established to make sure that euro area coun-petitiveness and promote growth as well as jobs. damaging bubbles in housing markets. examined and addressed. The framework for ha-problems of economic governance, we should not forget the huge benets that the euro has Whats in it for citizens? suppliers. This means that we benet from lower prices and price increases are kept in check.simply easier! Within the euro area, we dont have to calculate exchange rates, we can now clearly compare The ination rate in the euro area has been around 2 % each year since the start of the euro. This is remarkably stable and low when we compare it to the rate of 20 % (and sometimes more) that some Cheaper and easier travelmade far easier than before - we do not need to exchange currencies and therefore we do not pay any exchange fees. in terms of value, between 20 % and 25 % of Whats in it for business?Its simple : Lower interest rates =Low ination keeps interest rates low.Businesses can borrow more cheaply to invest in, for example, new machinery or research productivity.Economic growth and more and better jobs.Today, European businesses are in a better po-sition to make long-term investments. Interest rates are stable so its easier to predict whether Lower risks and reduced costs rates. To cope with this risk, companies tended to trade. This risk is now gone.Additionally, trade within a single market using trade across many markets using multiple curren-cies. Before the euro, the cost of exchanging cur-rencies in the EU was estimated at 20-25 bil-lion annually. These costs have now disappeared Weighing up the benetsFor more infoThe euro :www.ec.europa.eu/euroEuropean Commission Directorate-General for Economic and Financial Aairs :www.ec.europa.eu/economy_nance/index_en.htmThe European Commission :www.ec.europa.euThe European Central Bank :www.ecb.euReproduction is authorised provided the source is acknowledged.FranceFinlandSloveniaSlovakiaKC-06-14-059-EN-Nregisters, purses and pockets for the rst time. This marked another major step towards European economic integration, a journey which began with the foun-You might be surprised to learn just how well-trav-deloupe, Martinique and Saint-Barthélémy), in the lantic Ocean (Azores, Canaries, Madeira and Saint lilla on the north coast of Africa and French Guiana in South America. It is also used in Monaco, San Marino, the Vatican City and Andorra as the na-tional currency, and in Kosovo and Montenegro as currency. Whats the aim?The euro and the Economic and Monetary Union aim to allow our economies to function more eciently and eectively, ultimately oering Europeans more jobs and greater prosperity.The symbol of the euro is .Various security features have been incorporated them to check for yourself!Euro coins have a uniform design on one side and a country-specic design on the other.Then and now Steps towards the euroThe European Economic Community is founded, opening a common market for goods, to the euroEconomic and Financial AairsFor more info euro European Commission Directorate-General for Economic and Financial A�airsThe European Commission :www.ec.europa.euThe European Central Bank Reproduction is authorised provided the source is acknowledged.FranceFinlandSloveniaSlovakiaKC-06-14-059-EN-NEconomic and Financial Aairs1957Towards a TODAYcommon marketThe foundation of the European Economic Community back in 1957 saw the birth of a common market and the beginning of European integration. It allowed for goods, people, services and capital to move ever more The euro comes to lifetills, cash registers, purses and pockets. Since then, the euro area has grown, bringing tangible benets to an ever-increasing The common market becomes a realityAs exchange and movement across Europe became more common, it became clear that the single market was restricted by the many currencies in circulation. How could we break this additional barrier to integration? In 1992, the Maastricht Treaty decided that Europe would have a strong and stable single currency for the 21 century.stability and harmony to the euro area economy. However, in have been strengthened to form the new EU economic governance framework which enforces the rules to he