Problem
Europe's single currency, the euro, was introduced in January 1999, replacing the currencies of 11 European Union members, including France, Germany, Italy, and Spain (but not Britain; see Chapter 20). Do you think that, immediately after the euro's introduction, the value of foreign exchange trading in euros was greater or less than the euro value of the pre-1999 trade in the 11 original national currencies? Explain your answer.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.