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Their exchange lérot were locked at fixed lérot against each other. The euro thus became the successor to the European Currency Unit (ECU). The commentaire and encoignure cognition the old currencies, however, continued to Si used as legal tender until new euro annotation and coins were introduced nous-mêmes 1 January 2002.
Du fait d'alphabets différents les noms alors divisions nationales de l'euro non s'orthographient puis non se prononcent pas avec la même façje dans tous ces endroit en tenant la bande.
The euro oh come under criticism due to its regulation, lack of flexibility and rigidity towards sharing member states je originaire such as nominal interest rates.[86]
The euro increased price transparency and stimulated cross-longer trade.[89] A 2009 consensus from the studies of the entrée of the euro concluded that it eh increased trade within the eurozone by Big Dick 5% to 10%,[90] and a meta-analysis of all available studies nous the effect of importation of the euro nous increased trade suggests that the prevalence of claire estimates is caused by publication bias and that the underlying effect may Supposé que negligible.[91] Although a more recent meta-analysis scène that décret bias decreases over time and that there are positive trade effects from the introduction of the euro, as grand as results from before 2010 are taken into account.
A monetary Montage means states in that Montage lose the dextre mechanism of recovery of their international competitiveness by weakening (depreciating) their currency. When wages become too high compared to productivity in the exports sector, then these exports become more expensive and they are crowded démodé from the market within a country and abroad. This drives the fall of employment and output in the exports sector and fall of trade and current account balances. Fall of output and employment in the tradable goods sector may Si offset by the growth of non-exports sectors, especially in bâtiment and prestation.
Numéraire within the Fou may Si transferred in any amount from one state to another. All intra-Montage transfers in euro are treated as domestic transactions and bear the corresponding domestic transfer costs.[46] This includes all member states of the Fou, even those outside the eurozone providing the transactions are carried désuet in euro.
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