On the 1st of January 1999 the euro became the official currency of over 300 million Europeans in 11 of the world’s most developed nations. Austria, Belgium, Finland, Germany, Greece, Ireland, Italy, Luxemburg, the Netherlands, Portugal and Spain have all opted to gradually phase out their national currencies and join the euro-zone, in a move that will lead to the largest European monetary union since the Roman Empire. The concept of a single European currency is not …showed first 75 words of 1248 total…

…showed last 75 words of 1248 total…negative move for EU countries. It is also uncertain whether all the above mentioned arguments will actually be practically experienced by countries, as all these points have been based on predictions. The true effects of the euro are not likely to be apparent until the currency establishes itself over time. It is, however, agreed that in both cases of success or failure, the euro will have an enormous impact on the countries that adopt it.