The Euro (The Euro)

Member Name: _jlee

Product:	The Euro
Date:	31/08/08 (63 review reads)
Rating:

Advantages: Saves hassle of exchanging, balances out the richer and poorer countries

Disadvantages: Loses "country individuality"

The point of the Euro is to make currency in Europe simpler by having one currency. This sounds like a good plan in theory because of the removed hassle of exchanging currency and the rates of exchange and so on. If you were travelling all over Europe, you'd have to exchange very often, and you could lose money from exchanging.

Most states in the European Union though have switched over to the Euro and has made things easier for a lot of people. France, Spain, Germany, Portugal, The Netherlands amongst other countries are using the Euro as the main currency.

Britain however has not made the switch over to the Euro. The debate about the Euro is that although it is simpler for people who would have needed to exchange currencies, it changes the economy of the country because the monetery system is dependant on other countries as well. Not only this but the British Pound is currently stronger.

The thing is, the pound is falling weaker and weaker. Three years ago I remember £1 being roughly 1.57 Euros, now it is more like 1.2 Euros. The argument that Britain should be unique and it's history make not mean so much if the Euro becomes stronger than the Pound.

Summary: It's still the Pound for now...