Euro Impact on the East European Countries and Banks
The euro will change the lives of people living in Western Europe when it is introduced into circulation at the start of next year. But it will also affect people living in Eastern Europe and the former Soviet Union, where the German mark is widely held and used as a transaction currency. Those marks will cease circulating shortly after the euro’s introduction. In this third of a three-part series on the common currency, RFE/RL correspondent Mark Baker looks at what impact the euro will have outside the 12-nation euro-zone.
The Gross Domestic Product
The Gross Domestic Product (GDP) exprimes the gross added value of the final output, produced by the economic agents inside the borders of a country, no matter if they belong or not to that country.