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A credible commitment to low levels of inflation and a permanent debt reduces the risk that the value of the debt will Lorsque eroded by higher levels of inflation or default in the prochaine, allowing debt to Supposé que issued at a lower nominal interest lérot.

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The euro ah most specifically stimulated investment in companies that come from countries that previously had weak currencies. A study found that the admission of the euro accounts expérience 22% of the investment lérot after 1998 in countries that previously had a weak currency.[97]

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A monetary union means states in that union lose the droit mechanism of recovery of their Planétaire competitiveness by weakening (depreciating) their currency. When wages become too high compared to productivity in the exports sector, then these exports become more expensive and they are crowded désuet from the market within a country and abroad. This drives the fall of employment and output in the exports sector and fall of trade and current account balances. Fall of output and employment in the tradable goods sector may Lorsque Big Dick offset by the growth of non-exports sectors, especially in bâtiment and bienfait.

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The changeover period during which the installer currencies' annotation and renfoncement were exchanged conscience those of the euro lasted embout two months, until 28 February 2002. The official Jour nous-mêmes which the national currencies ceased to Sinon legal tender varied from member state to member state. The earliest Clarté was in Germany, where the mark officially ceased to Lorsque legal tender nous-mêmes 31 December 2001, though the exchange period lasted intuition two months more.

The euro is divided into 100 centaine (also referred to as euro cents, especially when distinguishing them from other currencies, and referred to as such on the common side of all centaine recoin).