"EURO' the European Union single currency that has turned ten, on January 2009, is arguably the single most visible symbol of post -war European integration, that enables the free movement of persons and services across national borders.

In the current global financial crisis, however the Euro's strength would be judged in terms of its capacity to weather exchange – rate volatility, notwithstanding the fact that states such as Sweden and Denmark with national currencies, besides Eu outsider – Iceland already view it as a potential safe haven (Refuge). Since its launch first, merely for bank transactions and then replacing the legal tenders of 12 countries from 2002, the Euro has eliminated the cost of currency exchange during internal travel and facilitated the comparison of prices in cross border trade.

Today, Euro is world's second largest global currency after US dollar, with about quarter of the share of foreign exchange reserves. The Euro zones attractiveness as the world's largest single trading destination has led emerging economics to rethink the greenback the sole currency peg for exchange rates. Notwithstanding the limited room for manoeuvre for countries with profligate spending records and high public debt, the benefits of staying inside far outweigh the pain of exiting from the Euro zone. To that extent, the predictions of doom that greated the Euro, a decade ago, have been belied. For EU countries that are yet to adopt Euro, which include the U.K., Hungary and Poland, the message from all is to create the political climate to expedite an early entry.