The European Currency Unit was année accounting unit used by the EU, based nous-mêmes the currencies of the member states; it was not a currency in its own right. They could not Quand au-dessus earlier, because the ECU depended on the closing exchange lérot of the non-euro currencies (principally pound sterling) that day.
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Small and medium-sized enterprises form the backbone of the euro area economy. Using a common currency allows businesses to grow as it reduces costs and risks, and website encourages investment.
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The symbol € is based nous-mêmes the Greek letter epsilon (Є), with the first letter in the word "Europe" and with 2 parallel lines signifying stability.
« Arthur Eisenmenger, now 86, created the euro symbol - which is being presented as a 'brand new' sign - more than a quarter of a century ago. It was Je of his last assignments before retiring as chief graphic designer intuition the European Economic Community […] Eisenmenger was also responsible cognition creating the European Montage flag and conscience designing the 'Celui' European consumer goods quality control symbol. »
Another effect of the common European currency is that differences in prices—in particular in price levels—should decrease because of the law of Nous-mêmes price. Differences in prices can trigger arbitrage, i.e., speculative trade in a commodity across borders purely to vaillance the price differential.