Two more countries added to the Euro-Zone
January 15, 2008 by Jean Mercedes
Filed under Business
Starting January 1, 2008, Malta and Cyprus have started using the Euro as their official currency. That brings the Euro-Zone up to 15 countries out of the 27 European Union members. In addition, 4 European principalities (Monaco, Andorra, etc.) and two areas from “Ex-Yugoslavia” (Kosovo, Montenegro) have adopted the Euro.
The Euro-Zone not only makes travelling in Europe easier, it also makes doing business within Europe a lot easier. Before introduction of the Euro, companies with facilities in more than one European location needed to manage their books in multiple currencies. Even more significantly, the Euro-Zone has stimulated more trade between member countries.
Now if we could just get the UK to adopt the Euro, I would have one less currency in my business life to worry about…
Chris has written two posts on the exchange rate of the US dollar to the Euro.
Image from muenzenmagazin.de
