Map of Kicevo on The 1992 Treaty on European Union itself cited: the raising of the standard of living and the quality of life, and economic and social cohesion and solidarity among Member States as its central goal. Benefit of the euro. The euro’s core economic benefits are direct, and include: the elimination of the need to exchange currencies of EMU members (this has been estimated to save as much as $30 billion per year); the elimination of excessive volatility among EMU currencies (fluctuations will only occur between the euro and the DOLLAR, the YEN, and the currencies of non-EMU nations); more rapid economic and financial integration among EMU members; a EUROPEAN CENTRAL BANK (ECB) that may conduct a more expansionary monetary policy than the generally restrictive one practically imposed in the past by the Bundesbank on the other EMU members; and greater economic discipline for countries, such as Italy and Greece, that seemed unwilling or unable to put their economic house in order without externally imposed conditions. Other benefits of the euro for the EMU members are: moving away from the use of the dollar as an international currency (which currently confers about $8-10 billion in benefits to the United States, and the expectation is that the euro could provide similar benefits to the euro area); the reduced cost of borrowing in international financial markets (it has been estimated that the U.S. cost of borrowing on international financial markets is about 25-50 basis points lower than it would have been if the dollar were not used as an international currency, for a total saving of about $10 billion, and the expectation is that the euro area could gain as much); and last but not least, the increased economic and political importance that the EU will acquire in international affairs. Problem with the euro. Map of Kicevo 2016.
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Map of Kicevo Holiday Map Q.