Research Paper on:
Europe and its Universal Currency, the Euro

Unformatted Sample Text from the Research Paper:
Europe has recently attempted to address the problem of the lack of compatibility between the numerous monetary currencies which exist in an area demarcated by a variety  of nations and political interest. The existence of a wide variety of currencies has complicated the international trade arena throughout history in Europe. The recent introduction of the  Euro, a currency which is common to all participating countries, is an attempt to overcome the confusion and awkwardness which has previously surrounded international currency exchanges. It is an  introduction, however, which is perceived differently by individual world players in regard to its success. To trace the history of the Euro we  must first start with the trade situation as it existed in Europe prior to its introduction. Europe, of course, is composed of a multitude of small countries. Most  of these countries trade among one another both rigorously and frequently. A number of political provisions have been made in recent history to facilitate this trade. Since 1958,  in fact, the Common Market, has been in existence and had begun to dissipate trade barriers. The Common Market, however, did little to overcome:  "the inefficiencies caused by currency differences: Banks, businesses, and individuals still had to swap currencies--which meant paying transaction costs- -to  exchange goods and services" (Judis, 2002). As an added problem, fluctuating exchange rates made the  planning of future purchases and investments difficult (Judis, 2002). As is present in any business situation to buy a product you must be prepared to deliver payment in