The euro is part of the economic and monetary union (EMU) in the EU, this means a single market

that includes a single currency recognize by all EU members states under one monetary policy (Commission, 2 !)" The euro#s path to being the single currency $as pa%ed

$ith political unrest that led to inno%ati%e mechanism established to regulate the currencies of Europe" &n '!(2, the Member )tates established snake in a tunnel to stabilize the fluctuations of the currencies of Europe beside the U")" dollar (Commission, 2 !)" The snake $as an e*isted

briefly before the ne*t creation for currency stability" EM) or European Monetary )ystem created to establish the European currency unit (ECU) ad+ustable e*change rate and reduce instability $ith the currency (Commission, 2 in motion to transition to the euro" &n '!--, the .elors report recommended the EMU $ould take three stages to the ob+ecti%e of a single currency for the single market" The final stage for the creations of the euro $as policies and budgetary rules (Commission, 2 !)" &n '!!' Maastricht Treaty set the criteria !)" ,ith some ad+ustments, this set the initiati%es

for the EU to con%erge into a single currency and from '!!/0'!!-, the EU members begin the progression to$ards meeting the criteria and introducing the euro (Commission, 2 !)"

.ecember 1', '!!- the rates stabilized and the con%ersion complete" 2n 3anuary ' '!!! the euro came into e*istence the transition period $ould take three years, and by 3anuary 2 euro $as in circulation and the massi%e changeo%er to a single currency took t$o months (Commission, 2 !)" 2 the

The Euro promoted freedoms to in%est in the %arious businesses across the EU using a single currency for a single market (Commission, 2 2)" &t pro%ided the consumer $ith a

broader base to buy goods and ser%ices in other countries" The euro reduces many unnecessary

rules and regulations, $hile establishing an economic competiti%eness that assist the economy to gro$th (Commission, 2 2)"

American Dollars to 1 EUR (invert,data)

120 days

latest (Oct 27) 1.4038

lowest (Oct 4) 1.3181

highest (Jun 7) 1.4652

Source: http455$$$"*0rates"com5d5U).5EU65graph'2 "html

6eferences Commission, U" , (2 !)" 1 currency for 1 europe" (pp" '0( 7u*embourg4 7u*embourg 2ffice for

2fficial 8ublications" 6etrie%ed 2ctober 21, 2 '' from http455eurpoa"eu Commission, U" (2 2)" It's a better life how the eu's single market benefits you" (pp" 109)"

7u*embourg4 7u*embourg 2ffice for 2fficial 8ublications" 6etrie%ed 2ctober 2/, 2 '' from http455eurpoa"eu Chart" (2 '', 2ctober 2()" 6etrie%ed from http455$$$"*0rates"com5d5U).5EU65graph'2 "html