A single currency is a natural complement to the European Union’s single market, allowing it to function more efficiently and making it more conducive to growth, through:

• Elimination of exchange rate fluctuations: this provides a more stable environment for trade within the euro area by reducing risks and uncertainties for both importers and exporters, who previously had to factor currency movements into their costs
• Businesses are better able to plan their investment decisions because of reduced uncertainties
• Elimination of the various transaction costs related to the exchange and/or the management of different currencies due to elimination of exchange rate fluctuations

Price transparency: consumers and businesses can compare prices of goods and services more easily when always expressed in the same currency

1. Will the Euro Changeover require that a cash register will have to be replaced ?
2. Should financial statements be presented in Lm/€ and when is such display applicable ?
3. How shall we convert Lm to Euro?