Question

what would be in your opinion some of the advantages and disadvantages of such a Union/partnership for citizens who are part of it? What aspect particularly impressed/or shocked you? Can the U.S. learn anything from the E.U? I to 2 paragraphs

Answer 1

The European Union has introduced its new currency, the euro. The euro was created to promote growth, stability and economic integration in Europe. Initially, the euro was a broad currency used for exchanges between countries in a union. People in each country continue to use their own currency. Within three years, however, the euro was established as the daily currency and replaced the local currency of several member states. The euro is not yet universally accepted as the main currency of all EU members. However, many stockholders view their currency in some way.

The main advantage of the euro is related to trade growth. Travel is facilitated by eliminating the need for money exchange. More importantly, currency risk is eliminated from European trade. With the euro, European businesses can lock in the best prices from suppliers in other countries in the eurozone. This makes prices more transparent and increases competition between companies in countries that use the euro. Jobs and goods can cross borders more easily to where needed, making the entire union more efficient.
The biggest disadvantage of the euro is the monetary policy, which often does not match the regional economic conditions. It is common for some parts of the European Union to grow with high growth and low unemployment. Others, on the other hand, suffer from prolonged recession and high unemployment.