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It was clear early that there were benefits to not having to exchange currency during travel, especially when it came to keeping track of various
It was clear early that there were benefits to not having to exchange currency during travel, especially when it came to keeping track of various currencies and then of course there were the exchange rates/losses. That said, carrying hard cash these days is becoming more infrequent making the debit/credit card the ultimate equalizer. Online shopping is another place the euro benefits Europeans. Salaries are more comparable enhancing competition among corporations. Most importantly, sharing a single currency has created collaboration. The more each country works together, the closer they grow, and when difficult moments arise, they know they will be able to support one another - at least that's the theory and hope displayed through various programs controlled by the EU Central Bank (ECB)2. Travel within the EU Schengen Area, which encompasses the 29 participating countries (4M square kilometres w/a population of 420M people)3, is comparable to travel state-to-state in the U.S. There are no longer border controls which has opened a greater area of travel freedom without the need of a passport under a common visa policy. Rick Note: Schengen, in the case anyone wondered where the name came from, is the name of the small village in Luxembourg where the agreement and convention were signed. Peer response feedback
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