It replaced a bevy of individual state, colonial and even foreign currencies used in the original 13 colonies until 1789. After two unparalleled periods of hyper-inflation, two lost world wars and a global depression, Germans believe themselves to be justifiably concerned. They seem to fear change of almost any sort. However, the fears are groundless. The fact that the Central European Bank will be physically located in Frankfurt lends the Euro an aura of greater stability as well.
Equity is safe.
For expatriates earning money or running businesses or travelling frequently in many European countries, the introduction of a unified currency will provide several important benefits. The most obvious is the expected reduction of currency exchange costs when changing monies. The values of goods and services remain constant as conversion costs are eliminated. Viewed in economic bloc trading terms, Euro currency States should be able to reduce costs and prices to compete more effectively in other parts of the world. Given the highly competitive nature of Asian markets, third world producers, and service oriented economies, anything that enhances Europe s competitiveness can only be positive.