The European Economic and Monetary Union is to create monetary stability, low interest rates, sustainable growth and a high level of employment within the Community. There will no longer be any exchange rates between the states participating in the monetary union. Businesses - especially export firms - will have a more reliable basis on which to plan; tourists will not have to exchange currency, which means their holidays will be cheaper; the European currency can become a more important world reserve currency; and consumers will benefit.from competition intensified by greater transparency in prices. The dynamism of the European internal market will be boosted.