History of the Euro Essay -- Europe Eurpean Currency Money Essays

History of the EuroAfter the long awaited single currency implementation known as the euro, there have been many ups and downs to this monetary system. galore(postnominal) have been quick to criticize while others still praise its value claiming it will soon be valued strongly against the dollar. Our paper looks into the various aspects of the euro and the shape up it has made since its initiation. We begin with a brief history of the euro then move on by raising some questions concerning the effects of the euro on various frugal aspects such as competition and global financial institutions. We then provide insight to the various strengths and weaknesses of the euro and the implications this currency has on various institutions such as banks. We intermit the paper by presenting a number of challenges the euro may face in the near future, as well as its current conditions.IntroductionRecently in Europe and its neighboring countries, the talk has been about the newly installed euro into the ever- growing European market. The euro has been the new currency for the twelve countries belonging to Euroland since January 1, 2002. The countries that have adopted the euro are the future(a) Austria, Belgium, Finland, France, Germany, Greece, the Republic of Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain. The big motivation behind the euro is to enable a market that more and more looks like one European market. The goal is for the European upper-case letter market to be as efficient as possible, as this is a prerequisite for sustainable economic development. To better understand how the euro came about, one must go back to 1979. This is when the idea of the euro was in its very first phase. History of the EuroOn March ... .../html/rubrique-cadre5html?pag=rubrique- europa5.html/lang=5/chap18/rubrique=261 The European Union in Your Hand7)Eltis, Walter. Euro cut into Panel. www.kingston.ac.uk/en_5007/euro/eurosum.htm8)www.fortune.com 9)Ga zi, Ercel Governor of Central Bank of Turkey. Dunya Gazetesi, Euro Meeting, Istanbul, Nov 27, 199810)George, Edward Progress of the Euro. www.bis.org/review/r001024.a.pdf11)Hersch, Warren. Computer Reseller News. Euro Progress Crawls Along. Manhasset Feb 21, 200012)www.howstuffworks.com/euro7.htm13)International Effects of the Euro. www.brook.edu/dybdocroot/com/Policybriefs/Pb042/pb42.htm14)White, William The Euro and Financial Markets Challenges for Bankers and Policymakers. www.bis.org/speeches/sp991113.htm15)http//cobweb.creighton.edu/cps/ Euro