The first achievement of Euro zone in relation to reducing cost of doing business is that monetary integration resulted to lower transaction costs among member states. Such integration eliminated the exchanges between one currency to Euro and therefore, save resources. In businesses involving hand to hand transactions, this cost reduction has been more impactful as compared to using bank transactions. This is majorly because of imbalances in the advancement of bank systems among the member states. A study was done by the European commission and it was found that monetary integration would result to “savings in dealers’ margin of 0.4%...
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