The unification of the material and monetary policies of the states and the common currency conditions were adopted with the continuity of the euro. After the improvement of the single market policy and the whole of the European Central Bank, 12 EU member countries started to use the euro, which is accepted as a single currency, when their national currency times were removed from circulation in 1999 and 2002. In the following period, the number of countries using Euro increased to 18. Monetary order aiming money affairs and low inflation, Economy and Currency are provided by the European Central Bank and order is achieved.
Finance
The use of a single currency count for the economy and currency complements the basic case single market idea of free formation of people, goods, offerings and capital with the EU. The fact that the use of a single currency is becoming known is quite good for the economy and companies as well as people. Thus, the purchasing power of the people of the EU is better protected and the cost of exchanging money within the borders is removed. The EU country also simplifies global trade and creates a stronger Europe against the global crisis. Although all member states can be part of the economic and monetary formation, not all prefer the euro currency.
While Denmark and England are considering and implementing not to use the euro, some countries cannot use this currency option due to their inability to fulfill the important criteria to pass. Euro, the well-functioning economic and monetary union and a solid and stable currency, is considered the basis for the EU to create a development-oriented monetary ratio. Due to the direct impact of the euro on economic development, investment, advances and businesses, the EU shows great wisdom that the euro is a sound and stable currency.
Financial Situations
There are very specific procedures for countries that have serious financial difficulties in terms of economy and currency or that use an acquisition program by the EU. State of dual law regulation is determined as to enable the member states to take corrective actions in a timely and continuous manner in their financial situation by specifying the full and frequency of information pushed to the Commission and the Council.