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Essay / Research Paper Abstract
This paper examines the impact of the euro six months after its hard currency launch of January, 2002. The main premise of the paper is that while multinational companies and international banks have seen little difference, the impact has been more psychological and consumer-oriented. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: D0_MTeuroim.rtf
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Unformatted sample text from the term paper:
on paper. The thought was, that by promoting a single currency across the continent, a more unified front would be established, particularly on the world economics stage. It was also
thought that establishing a one-European currency would help take care of border price disparities. The euro, which was already in use electronically
as of January, 1999, was introduced in hard cash form on January 1, 2002. So far, out of the 15-member European Union, 12 countries are using this form of currency.
And, interestingly enough, most economists seem to be in agreement - the introduction has had little, if no impact, on domestic and international markets. However, because the currency is still
new and untried, there are economic experts who continue to predict an ominous outcome for this one-size-fits-all currency - and some countries that dont even want to have it as
a major currency. On top of that are the psychological barriers that the euro has created among the minds of its consumers - consumers who are used to their own
currency and who want it back. When the hard-currency euro was introduced in , the resultant impact seemed to be one
collective giant yawn, at least, according to the media at the time (Liesman, 2002). According to Neil Soss, economist at Credit Suisse First Boston In New York, notes that while
the euro does help bring the idea of a seamless European market onto the world economic stage, he also notes that the appeal of this currency could take as long
as a decade (Liesman, 2002). From the point of view among U.S. multinational corporations, however, the impact hasnt been too great - as mentioned earlier, most international corporations and financial
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