- Stimulation of Economic Growth:
First, the single currency will offer stability and sustainable growth.
Greater stability will lead to greater certainty among businesses and you
the consumer will benefit. You the consumer will be able to safely plan
for your financial future. This safety will generate investments and
thereby generate economic growth. Economic growth will lead to more jobs
and a higher standard of living.
- Lower Interest Rates:
Second, the single currency offers the prospect of lower interest rates.
Lower interest rates will give a further boost to public confidence and
provide more incentives for investment. This will also means cheaper
borrowing for consumers and cheaper mortgages for homeowners. Businesses
in the UK are currently paying higher interest rates than in many other EU
countries. This happens because the investors like George Soros, who
control the sterling, charge premium prices to insure themselves against
possibility of sterling devaluation. With a single currency, that
possibility would no longer exist and you, the borrower will benefit.
- Transparency of Prices:
Third, the single currency will make the single market more efficient and
its full potential will be realized. Businesses will make the same
profits across the European Union. You, the consumer will benefit because
you will pay the same prices for that apple whether you're in Belgium,
Germany or right here in Britain.
- Ease of Using Same Currency:
Finally, there will no more complicated European vacations. When traveling
to another country within the single-currency zone, you will no longer
have to convert money from one currency to another. This will save time
and money. In the past, if you began with 100 pounds, converted it into
every currency in the European Union, by the end of your transactions, you
would have less than 30 pounds to spend. Imagine the vacations you could
take without losing 70 pound out of each 100.