The cost of converting money from one national currency to another is very high. Moreover, differences in currency value can make market prices unstable, discouraging international trade and travel. A group of countries in Europe has been able to avoid many of these problems by agreeing to use a single form of money: the Euro. Together, these countries, known as the Eurozone, enjoy important benefits that come with sharing a multinational currency.
Most importantly, the Euro keeps regional prices stable. Before the introduction of the Euro, if the local currency in one country rose in value, goods from that country would become much more expensive for neighboring countries as a result. Similarly, if a nation’s currency lost its value, the price of imported items would increase for consumers in that country. With the advent of the Euro, participating countries no longer face that problem. The price of goods between countries cannot suddenly change, because all of the countries are using the same currency.
As a secondary benefit, the Euro’s price stability encourages international trade. Eurozone companies no longer need to worry about sudden loss of profit from changes in the worth of currency. Furthermore, merchants can buy and sell across borders without international transaction fees.
Ultimately, the Euro’s benefits support individual freedom by promoting worker mobility. Before the creation of the Eurozone, European workers had far fewer chances to seek work in neighboring countries. Companies headquartered in what are now the Eurozone nations were reluctant to open international offices because of the instability costs. Workers themselves faced stiff currency conversion fees when they tried to send money home and additional losses if the currency of their paychecks fell in value. Since the creation of a common currency, Eurozone employers have offered individuals more chances to work abroad with minimal financial risk.
The article and lecture discussed about Eurozone and it's implications. The article supported the notion of single currency by providing a few compelling reasons. However, the lecturer has contrasting opinions regarding single currency that is Eurozone and the speaker challenged the reasons provided by the author.
First, the author asserted that a single currency is helpful in stabilizing the price of a currency, which could help in reducing burdens involved in import and export done internationally. On the other hand, the lecturer mentioned that the author has failed to consider other contries apart from Europe like India, China , USA ,etc, which have different currency and again this would create an issue for trade internationally.
Second, the author has mentioned about the stability in the economy, which will further encourage trade internationally. The Eurozone companies no longer have to worry about sudden changes in currency. However, the speaker refutes the reason provided by the writer and states that there would be no change if import or exports are made between one another in Eurozone but on taking a deeper look import and export between other countries apart from the Eurozone countries could make a significant impact on stability on the Eurozone economy.
Moreover, the author maintained that immigration would be much more easier with the single economic currency as It would eliminate the bruden of currency conversion fees when workers try to send money to their home. Whereas, the professor opposed this notion by claiming that immigration is more about once's government's and immigration policies; not merely by no conversion fee of the currency and paycheck value.
In a nutshell, both the writer and a lecturer have contrasting opinions on single currency that is Eurozone.
| Post date | Users | Rates | Link to Content |
|---|---|---|---|
| 2019-12-10 | Cursed God | 90 | view |
| 2018-09-19 | Sanfre011 | 63 | view |
| 2018-06-10 | nik.201094@gmail.com | 85 | view |
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Grammar and spelling errors:
Line 5, column 322, Rule ID: COMMA_PARENTHESIS_WHITESPACE
Message: Put a space after the comma, but not before the comma
Suggestion: ,
...ries apart from Europe like India, China , USA ,etc, which have different currency...
^^
Line 5, column 328, Rule ID: COMMA_PARENTHESIS_WHITESPACE
Message: Put a space after the comma, but not before the comma
Suggestion: ,
...part from Europe like India, China , USA ,etc, which have different currency and a...
^^
Line 13, column 64, Rule ID: MOST_COMPARATIVE[2]
Message: Use only 'easier' (without 'more') when you use the comparative.
Suggestion: easier
...intained that immigration would be much more easier with the single economic currency as It...
^^^^^^^^^^^
Transition Words or Phrases used:
but, first, however, if, look, moreover, regarding, second, so, whereas, apart from, on the other hand
Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments
Performance on Part of Speech:
To be verbs : 7.0 10.4613686534 67% => OK
Auxiliary verbs: 7.0 5.04856512141 139% => OK
Conjunction : 12.0 7.30242825607 164% => OK
Relative clauses : 11.0 12.0772626932 91% => OK
Pronoun: 12.0 22.412803532 54% => OK
Preposition: 36.0 30.3222958057 119% => OK
Nominalization: 3.0 5.01324503311 60% => More nominalizations (nouns with a suffix like: tion ment ence ance) wanted.
Performance on vocabulary words:
No of characters: 1547.0 1373.03311258 113% => OK
No of words: 284.0 270.72406181 105% => OK
Chars per words: 5.44718309859 5.08290768461 107% => OK
Fourth root words length: 4.10515524023 4.04702891845 101% => OK
Word Length SD: 2.82613228629 2.5805825403 110% => OK
Unique words: 151.0 145.348785872 104% => OK
Unique words percentage: 0.531690140845 0.540411800872 98% => OK
syllable_count: 489.6 419.366225166 117% => OK
avg_syllables_per_word: 1.7 1.55342163355 109% => OK
A sentence (or a clause, phrase) starts by:
Pronoun: 0.0 3.25607064018 0% => OK
Article: 10.0 8.23620309051 121% => OK
Subordination: 0.0 1.25165562914 0% => More adverbial clause wanted.
Conjunction: 0.0 1.51434878587 0% => OK
Preposition: 2.0 2.5761589404 78% => OK
Performance on sentences:
How many sentences: 11.0 13.0662251656 84% => Need more sentences. Double check the format of sentences, make sure there is a space between two sentences, or have enough periods. And also check the lengths of sentences, maybe they are too long.
Sentence length: 25.0 21.2450331126 118% => OK
Sentence length SD: 77.9560164187 49.2860985944 158% => OK
Chars per sentence: 140.636363636 110.228320801 128% => OK
Words per sentence: 25.8181818182 21.698381199 119% => OK
Discourse Markers: 9.27272727273 7.06452816374 131% => OK
Paragraphs: 5.0 4.09492273731 122% => OK
Language errors: 3.0 4.19205298013 72% => OK
Sentences with positive sentiment : 7.0 4.33554083885 161% => OK
Sentences with negative sentiment : 2.0 4.45695364238 45% => More negative sentences wanted.
Sentences with neutral sentiment: 2.0 4.27373068433 47% => OK
What are sentences with positive/Negative/neutral sentiment?
Coherence and Cohesion:
Essay topic to essay body coherence: 0.149161977392 0.272083759551 55% => OK
Sentence topic coherence: 0.0545335803915 0.0996497079465 55% => OK
Sentence topic coherence SD: 0.0348368517401 0.0662205650399 53% => OK
Paragraph topic coherence: 0.0805173856281 0.162205337803 50% => OK
Paragraph topic coherence SD: 0.0220748752962 0.0443174109184 50% => Paragraphs are similar to each other. Some content may get duplicated or it is not exactly right on the topic.
Essay readability:
automated_readability_index: 17.1 13.3589403974 128% => OK
flesch_reading_ease: 37.64 53.8541721854 70% => OK
smog_index: 8.8 5.55761589404 158% => OK
flesch_kincaid_grade: 14.2 11.0289183223 129% => OK
coleman_liau_index: 14.63 12.2367328918 120% => OK
dale_chall_readability_score: 8.99 8.42419426049 107% => OK
difficult_words: 74.0 63.6247240618 116% => OK
linsear_write_formula: 10.5 10.7273730684 98% => OK
gunning_fog: 12.0 10.498013245 114% => OK
text_standard: 9.0 11.2008830022 80% => OK
What are above readability scores?
---------------------
Rates: 80.0 out of 100
Scores by essay e-grader: 24.0 Out of 30
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Note: the e-grader does NOT examine the meaning of words and ideas. VIP users will receive further evaluations by advanced module of e-grader and human graders.