L ‘Euro is the single currency
April 22nd, 2010
The euro is the second currency in the world for number of transactions, The dollar remains the currency of international reference. In December 2006, the European currency, became the first currency in the world for the amount of banknotes in circulation. It represents 37% of foreign exchange transactions.
On 1 January 2008 Cyprus and Malta also joined the eurozone, Slovakia in 2009, 2010 are expected arrivals of Lithuania,
Bulgaria, Estonia and Latvia, the Czech Republic in 2012 and 2013, also Hungary and Romania.
The transition to single currency was made in pieces from the beginning of 1999, with financial markets that are passed to the euro: the foreign exchange market, stock markets, debt, etc.. Then there was the dual circulation of coins.
Join the euro area not so easy, since there are constraints that countries wishing to join must meet. In particular, we see a deficit below 3% of GDP, public debt not exceeding 60% of GDP, low inflation and full independence of the central bank, in addition to the stability of national currency.
The euro is intended to help and promote cohesion among the states, through a single currency and common economic policies among the different states of 'European Union. Recently, our currency has been under fire for financial problems of Greece, close to default, as well as those of other states, like Spain and Portugal.
The transition to single currency was made in pieces from the beginning of 1999, with financial markets that are passed to the euro: the foreign exchange market, stock markets, debt, etc.. Then there was the dual circulation of coins.
Join the euro area not so easy, since there are constraints that countries wishing to join must meet. In particular, we see a deficit below 3% of GDP, public debt not exceeding 60% of GDP, low inflation and full independence of the central bank, in addition to the stability of national currency.
The euro is intended to help and promote cohesion among the states, through a single currency and common economic policies among the different states of 'European Union. Recently, our currency has been under fire for financial problems of Greece, close to default, as well as those of other states, like Spain and Portugal.
Tags: currency, Currency Markets Forex Market, for financial, Foreign Exchange, GDP, stock markets.
