There are a lot of ideas why the euro was introduced.Some people say that the euro was created because a single currency offers many advantages and benefits over the previous situation where each Member State had its own currency. Not only a fluctuation risks and exchange costs eliminated and the single market strengthend ,but the euro also means closer co-operation among Member States for a stable currency and economy to the benefit at all.
The single currency brings new opportunities arising from the integration of the euro-area economy, making the single market more efficient. Because the euro , the need to exchange currencies meant extra costs, risks and a lack of transparency in cross-effective and less risky.
In my mind a single currency makes the euro area an attractive region for third countries to do business , promoting trade and investment.
For most EU countries today, the majority of international trade is with other EU members.
The essay includes:
-Euro development
-The benefits from euro
-Changes in Latvia as the result of introduction of Euro
-Conclusions
-References