This goal has now been achieved by 11 countries. EU currencies like the German mark, French franc, and Italian lira are now merging to become the euro. It includes all European Union countries except the U.K., Sweden, Denmark and Greece. The U.K. being outside the euro region will be quick inconvenient for many U.S. companies who trade heavily with U.K. companies or have subsidiaries there. The euro is not imposed as currency, but inter-bank transfers can be made in euros.
Advantages There are many economic benefits.
In short, the single currency will significantly increase competition, lower costs, and bring about greater certainty. These new forces will bring about much-needed structural reforms in Europe. Almost every aspect of Europe's business and political environment will be affected. Perhaps most importantly, marketing and pricing strategies need rethinking. For those selling via the Internet, the euro will make it easier to do business, and give encouragement to companies selling to European customers.