European Unification

1 Pages 277 Words

Europe makes switch to euro


Europe takes a bold step toward unity on January 1st which is being called E-day … Euro-day. On January 1st twelve countries will convert currencies all to the euro. This switch to a common currency by these EU countries is expected to boost the European economic growth and strength. Other countries Great Britain, Sweden and Denmark have chosen not to be active in the initial launch but the currency will still be effective in those countries.
There have been preparations, planned celebrations and even crimes committed in anticipation of the unifying event taking place on January 1st. Owners and managers have trained workers on how to convert old currencies to the euro, celebrations such as burning models of old currencies and light and sound shows and even robberies of banks and armored cars containing the euro.
By creating a unified market and eliminating a currency risk, a dozen European countries hope to become more competitive and encourage trading, traveling and investments. Over 300-million Europeans wll get 15 million bank notes and 50 billion coins of currency. Although the twelve countries Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxemburg, the Netherlands, Portugal, and Spain combined have a gross domestic product of 6.4 trillion euros which is about 2/3rds of the U.S. economy the euro had been promised to rival the dollar, but the value has fallen from $1.17 on its launch date in January 1999 to .88 cents. Though the unifying of the European countries hasn’t made the economy as strong of the U.S. the unification may prove successful in making European wars unthinkable....