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Was the Eurozone a Bad Idea?
Why Germany's Chancellor Is So Important
The Euro is the primary currency exchanged within 19 of 28 EU member states. Prior to the establishment of the EU, each country used and controlled its own currency system. However, in 1999, the fledgling EU began transitioning into one shared currency. The move brought better transparency to price control, eased travel between countries, and promoted more efficient economic growth across Europe. Still, 9 countries have retained their pre-EU currencies-a means of better controlling their interest rates and other currency policies. Nevertheless, the Euro is a major force in the global financial system, with over 338 million people using it every day. Since its introduction, the Euro has stayed fairly competitive with the U.S. dollar, but the currencies are gradually becoming more equal, largely due to financial crises in the Eurozone. This is made investors weary of investing in the currency Learn More:
Will EU border controls really threaten the euro? (bbc.com)
"The village of Schengen sits on the banks of the Moselle river in Luxembourg, close to the point where its frontier meets those of France and Germany."
European debt crisis: It's not just Greece that's drowning in debt (telegraph.co.uk)
"While the eyes of the world are on Greece and its potential default on its debt, there are several other countries in the EU that have debts to rival the struggling nation."
After 2020, all EU members will have to adopt the euro (telegraph.co.uk)
"Recent events have made the British political commentariat more aware than before of just how committed European political leaders are to delivering political union in a Single European State."
Dollar hits new low versus euro (money.cnn.com)
"Concerns about the U.S. banking sector drive greenback to a record low against the 15-nation euro."