It is also important to bear in mind that both a stable euro area and a stable euro are, overall, beneficial to all member states – not just to a few, as some critics claim.
For instance, the common currency eliminates the exchange rate risk for goods and services traded within the euro area, which facilitates businesses’ price calculations with respect to both imports and exports. Furthermore, the euro increases price transparency and allows easier price comparisons on the euro area’s internal market. As a result, the euro leads to higher competition within the euro area.