How you benefit from the euro
14 November 2018 (updated on 16 January 2019)
You are one of more than 340 million Europeans who share a single currency. The euro is an important part of your daily life; it’s in your wallet and your bank account. But it’s much more than a convenient way of paying. It helps you to fulfil important needs and aspirations. It’s a safe and stable currency that enables you to save and invest with confidence. It makes it easier to live, work and study in another euro area country. The euro brings us together.
The euro has been around for 20 years now and, in that time, it has proven a stable and trusted currency. Together with the central banks of euro area countries, we at the ECB look after the euro so that you can be confident that your money is safe and so that you can benefit from the euro in numerous ways, today and tomorrow.
Stability and prosperity
Like most people you probably want to thrive economically – you want to have a good job that supports you and your family. As a central bank, we contribute to a growing economy that creates jobs by keeping prices stable. Maintaining price stability is our main task. It creates conditions for prosperity and an economically stable future that can be planned for. In everyday life, stable prices mean that you can feel confident about the future value of your money and that companies can invest and grow. You can rest assured that a euro today is a euro tomorrow.
As Europeans, we form a culturally diverse community of people who share similar values. Together we want to preserve peace, democracy and freedom. We also want to be more economically prosperous and to have a stronger voice on the international stage.
By coming together to form the world’s largest trading bloc and creating the single market for Europe we continue to move towards success in achieving these goals. The euro has advanced European integration by enabling people living in the euro area to reap the benefits of the single market.
The euro banknotes and coins in our pockets are a tangible symbol of European unity. The euro gives us a sense of belonging and serves as a daily reminder that we have achieved a great deal.
The euro makes it easy
You can use the euros in your wallet in 19 European countries without having to change money or pay exchange fees. It makes travelling to those countries more convenient and less costly and it simplifies other aspects of our lives, such as studying, working or living abroad. The euro allows consumers in the euro area to compare prices directly and pay across borders. It also helps to reduce businesses’ concerns about exchange rates.
Did you know?
Update: This explainer was updated on 16 January 2019 to reflect the autumn 2018 Eurobarometer survey results.