Ex.2. The following words can be used in more than one way. Underline the correct part of speech for each word as it is used in the text

The Euro

Lesson 4

Text: The Euro

Grammar: Comparatives: other points

Terms to remember:

single currency	™	єдина валюта
the European Union (the EU)	™	Європейський союз
stable	™	стабільний
attractive	™	притягальний; привабливий
benefit	™	перевага; користь, вигода; прибуток
advantage	™	перевага
obvious	™	очевидний; ясний, зрозумілий
abolish (v)	™	скасувати; усувати
transaction cost	™	вартість угоди
transparent	™	прозорий; очевидний
transfer of funds	™	переказ грошей (грошових коштів)
purchasing power	™	купівельна спроможність
sustainable	™	усталений

The single European currency, the euro, was launched on 1 January 1999. Since that time the € sign has become as familiar as the $ or ₤.

A stable currency whose owners are as big in world trade as the European Union is attractive to a lot of international investors who want to be less dependent on the dollar.

A single currency has potential benefits for the economy of every European Union’s country, in particular, as well as for all member states in general. Among the advantages the following can be pointed out:

s lower transaction cost: the euro makes commerce within the EU easier by abolishing the currency exchange mechanism. This, in turn, provides for lower transaction cost.

s transparent price differencies: the single currency makes price differencies in different countries of the Euro zone more obvious.

s reduced costs: for customers, in particular, to travel to other countries; easier and less expensive transfer of funds to other countries; secured purchasing power owing to lower inflation; more sustainable economic growth, which will increase employment.

Exercises in Word Study

Ex.1. Form adjectives from the following nouns:

stability, owner, attraction, advantage, benefit, commerce, economy, difference, purchase.

1.	sign	a) noun	b) verb
2.	trade	a) noun	b) verb
3.	transfer	a) noun	b) verb
4.	increase	a) noun	b) verb
5.	benefit	a) noun	b) verb
6.	travel	a) noun	b) verb
7.	price	a) noun	b) verb
8.	fund	a) noun	b) verb
9.	cost	a) noun	b) verb

Ex.3. Give the English for:

єдина європейська валюта, стабільна валюта; всесвітня торгівля; Європейський союз; приваблива для інвесторів; перевага; вартість угоди; прозора різниця в цінах; мандрувати; скасувати механізм обміну валюти; знижувати вартість; переказ грошей; купівельна спроможність; зайнятість; усталене економічне зростання.

Ex.4. Match words from list A with words from list B that have a similar meaning:

A	B
single sign stable attractive advantage transaction obvious abolish	cancel evident deal benefit interesting steady symbol sole

Ex.5. Find suitable opposites to the following words:

general; to stop; attractive; stable; dependent; advantage; employment; hidden; to establish; in general.

Ex.6. Match the nouns in the left-hand column with the verbs in the right-hand column:

currency     transaction     cost

make handle negotiate cancel cut compute increase determine control convert devaluate exchange

Ex.7. Look at the words and phrases in the box. Match them with the correct definition from the list below:

1. a free trade association with a common currency and unrestricted movement of capital goods and people between countries;

2. the unit of currency of the European Union;

3. the coins and banknotes that belong to a particular country;

4. money that can be exchanged for the currency of another country;

5. the price of something;

6. the rise in prices resulting from an increase in demand for goods and services and lowering of currency’s value;

7. a person who puts money into a business idea or activity in the hopes of making more money if the idea is successful;

8. a group of countries in Europe working to create a stronger world market for European goods and services;

9. gain, positive result;

10. the amount of money that a person, an organization or a country has to buy goods and services;

11. the amount of money spent on a piece of business done;

Ex.8. Write the appropriate word or phrase in the following spaces. Translate the sentences into Ukrainian.

1. A … leads to greater economic and monetary integration.

2. In the EU all business going through banks is now transacted in ….

3. The advantages of the single European currency are ….

4. The tourist changed a traveller’s cheque into local ….

5. Increased incomes have led to increased … in the country.

6. This contract is very attractive to our company. It has many ….

7. We had to increase prices last year just to cover our … of doing business.

8. The government … the tax on food.

9. My life is more … since I found a job.

10. It is … that the single market will work much better with a ….

	single currency; obvious; stable; abolished; costs; advantages; currency; euros; single market, purchasing power, transparent.

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