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The Challenge of a Single Currency for European Union

In March 2002, use of the euro took effect in 12 European countries, including Austria, Italy, France, Spain, Portugal, Germany, Belgium, Greece, Finland, Ireland, Luxembourg and the Netherlands (De Blij & Muller, 2003). Great Britain, Sweden and Denmark have not adopted the euro and first wave and countries currently negotiating to join the EU have not begun to participate in this currency regime as well (De Blij & Muller, 2003). Consequently, one barrier to the development of a euro based economy impacting upon all of the EU is that the currency itself has not been adopted by selected members. This clearly dilutes the impact of the currency and its potential for use.

As early as 1994, long before the euro was officially launched, Charles Wyplosz (1994) reported that there were any number of hurdles that had to be addressed before adoption could occur. Currency speculation and competitive devaluations were problems impeding adoption then ...

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The Challenge of a Single Currency for European Union. (1969, December 31). In LotsofEssays.com. Retrieved 20:01, September 27, 2016, from http://www.collegetermpapers.com/viewpaper/1303940649.html
 
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