POST COLD WAR WORLD
INTEGRATION OF EUROPE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the use of a common language
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the use of a common passport
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the use of a common currency (the Euro)
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the use of common borders
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Detailed explanation-1: -A currency union is when a group of countries (or regions) use a common currency. For example, eight European nations created the European Monetary System in 1979. This system consisted of mutually fixed exchange rates between member countries.
Detailed explanation-2: -Every year the EU provides food, shelter, protection, healthcare and clean water to over 120 million victims of disasters and conflict in over 80 countries.
Detailed explanation-3: -Currently, the euro (€) is the official currency of 20 out of 27 EU member countries which together constitute the Eurozone, officially called the euro area.
Detailed explanation-4: -You can use the euro in 20 EU countries: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. Discover more about the euro, which countries use it and the exchange rates.
Detailed explanation-5: -The most important sector of Europe’s economy is the service industry, especially banking. Services account for 73% of the EU’s economy, for example. The second biggest sector is manufacturing, which is responsible for 25%. Much of the remaining portion of GDP is taken up by agriculture.