Term Paper The Euro In the global economy, the U.S. dollar dominates the market. In order to balance the overwhelming control the U.S. has, a new union was created, the European Union. In 1946, Winston Churchill first envisioned a union of this magnitude. In January of 1992, its initial 12 members founded the European Union (EU). They were, in alphabetical order, Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, and United Kingdom (XE 1). …
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