List and explain three benefits the euro would generate for the states participating in the European Economic and Monetary Union
What will be an ideal response?
Answer: The euro would generate a number of benefits for the participating states: 1) Countries within the eurozone enjoy cheaper transaction costs; 2) Currency risks and costs related to exchange rate uncertainty are reduced; and 3) All consumers and businesses both inside and outside the eurozone enjoy price transparency and increased price-based competition. The primary "cost" of adopting the euro, the loss of monetary independence.
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