1. What is the European Union?
It is a group of 27 countries who have come together to have free trade and economic co-operation.

2. What are the aims of the EU?
Free trade: No customs/import duties between member countries.
Free movement of capital(money) & labour(workers).
Common currency: Only used by 15 member states at present.

3. What are the benefits of EU membership to Ireland?
EU grants which have helped develop our country.
Larger market for selling our exports.
Ireland is the only english speaking conuntry using the euro, US co.’s set up here to have access to EU market.

4. What is the Eurozone?
The 15 countries within the EU which have the Euro as their currency.
AKA “Euroland”.

5. What are the benefits of being a member of Euroland to Irleand?
No need to convert currency when trading with these countries.
Easier to compare prices.
More employment due to US companies setting up in Ireland to have access to EU.

6. Members of Euroland Austria Ireland Belgium Italy Cyprus Luxemburg
Finland
France
Germany
Greece
Ireland
Italy
Luxemburg
Malta
Netherlands(Holland)
Portugal
Slovenia
Spain

7. The other 12 EU member states
Latvia:Lats
Lithuania: Litas
Poland: Zloty
Romania: Leu
Slovakia: Koruna
Sweden: Krona
United Kingdom
Pound Sterling
Bulgaria: Le
Czech Rep: Czech Crown
Denmark: Krone
Estonia: Estonian Crown
Hungary: Forint

8. Rules for converting currency
Converting Euro to foreign:
Going abroad on holiday!!!(SMILE)
Multiply by the sell rate.
Converting foreign to Euro:
Coming back from holiday. (BRON/SAD)
Divide buy the buy rate.