European Currencies

1
European Currencies
2
What is the European Union?

• It is a group of 27 countries who have come
  together to have free trade and economic
  co-operation.

3
What are the aims of the EU?

• Free trade No customs/import duties between
  member countries.
• Free movement of capital(money)
  labour(workers).
• Common currency Only used by 15 member states at
  present.

4
What are the benefits of EU membership to Ireland?

• EU grants which have helped develop our country.
• Larger market for selling our exports.
• Ireland is the only english speaking conuntry
  using the euro, US co.s set up here to have
  access to EU market.

5
What is the Eurozone?

• The 15 countries within the EU which have the
  Euro as their currency.
• AKA Euroland.

6
What are the benefits of being a member of
Euroland to Irleand?

• No need to convert currency when trading with
  these countries.
• Easier to compare prices.
• More employment due to US companies setting up in
  Ireland to have access to EU.

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Members of Euroland

• Austria
• Belgium
• Cyprus
• Finland
• France
• Germany
• Greece

• Ireland
• Italy
• Luxemburg
• Malta
• Netherlands(Holland)
• Portugal
• Slovenia
• Spain

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The other 12 EU member states

• LatviaLats
• Lithuania Litas
• Poland Zloty
• Romania Leu
• Slovakia Koruna
• Sweden Krona
• United Kingdom
• Pound Sterling

• Bulgaria Le
• Czech Rep Czech Crown
• Denmark Krone
• Estonia Estonian Crown
• Hungary Forint

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Rules for converting currency

• Converting Euro to foreign
• Going abroad on holiday!!!(SMILE)
• Multiply by the sell rate.

• Converting foreign to Euro
• Coming back from holiday. (BRON/SAD)
• Divide buy the buy rate.