In the early 1990s, the EMU were working on the single currency progress. After that, the majority of EU have accepted the single currency progress and have been using the Euro instead of their historic currency. It was doubt that countries might not willing to give up their own currency but eventually most of countries did it. Although, it is hard for countries to give up their heritage currency, the single currency did help EU members to have rapidly growth in GDP. Therefore, I think the single currency is a really great step in history for EU, which might help members to minimize trade barrier and import taxes. The EU held the first place in the GDP ranking 2014, with even a little bit higher GDP than
In the early 1990s, the EMU were working on the single currency progress. After that, the majority of EU have accepted the single currency progress and have been using the Euro instead of their historic currency. It was doubt that countries might not willing to give up their own currency but eventually most of countries did it. Although, it is hard for countries to give up their heritage currency, the single currency did help EU members to have rapidly growth in GDP. Therefore, I think the single currency is a really great step in history for EU, which might help members to minimize trade barrier and import taxes. The EU held the first place in the GDP ranking 2014, with even a little bit higher GDP than