A report by credit rating Agency Fitch noted that certain countries could benefit immensely if the Euro was adopted by more countries in central and Eastern Europe.
Countries such as Croatia, Bulgaria, Hungary and Romania could see their overall credit scores jump if they decided to join the single European currency on the back of easier trading and less complications with currency fluctuations.
Joining the euro is a “fundamental trade off” noted Raoul Ruparel, co-director at Open Europe.
“You get to be part of this bloc and you get some benefits in terms of trade and reducing currency costs and other benefits in terms of stability.” he added
The benefit for the above countries at the moment is their countries remain relatively cheaper than most Eurozone countries at the moment on the question of Labor and they need to be careful if they choose to switch currencies.
“If they do join the euro, these countries need to make sure they don’t make the same mistakes as some other countries which saw a steep increase in the cost of labour and wages which eroded their competitiveness” Mr Ruparel also noted
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