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Benefits of EMU

The main elements of EMU and the procedure for forming it having been described, it is time to recall the reasons why the European Union and Member States set themselves the objective of achieving EMU. The main ones are as follows: 
(i) elimination of transaction costs and exchange rate risk for trade, tourism and investment among participating Member States;
(ii) low and fairly uniform interest rates among participating Member States;
(iii) consolidation and fuller development of the internal market;
(iv) promotion of price stability, sound public finances and sustained low-inflation growth in participating Member States;
(v) increased attractiveness of participating Member States to foreign investment; and
(vi) a voice in decisions about the single monetary policy of the Union. 


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