what has been the impact of the european union in terms of exchange rates & political aspects?

Question

and what is the significance of the european union

Answer 1

EU stands to remove a lot of barriers in doing business and commuting form country to country in europe. Positives is that with one currency, you dont lose tons of money constantly exchanging money. Europe is smaller than the US, imagine going from north carolina to south carolina and having to have your car checked, a special liscence to drive there, passports for everyone, and then have to pay fees to convert your money.

Down side, in my opinion, is that Europe is extremley liberal and countries put pressure on eachother to change eachothers loose culture and values (i am liberal myself--and this is sad to watch). Kind of like the "melting pot" that is the US.

Sweden, for example had a high history of alcoholics, so they heavily regulated Alcohol. But the EU is now telling them they MUST change their views on importing and exporting alcohol--at the same time, cutting their tobacco production to suit EU rules. They are also pressuring countries to take in Immigrants that put horrible drains on their societies, and further dillute their culture and individualitiy.

Not to mention on a business side, how creating one currency opens up fragile econmies to "Wal-Mart" type capitolism.