The United States of Europe as may refer to the European Union (EU) has been working together for many years on the final steps to achieve a single currency the EURO. However the world is only now beginning to see the massive task and effect this historic move will have both directly on its 375 million citizens and the rest of the world. Is the US business community keeping abreast of the progress and are they preparing for the change? There are incredible opportunities for companies who understand how this will affect the market,the conditions under which their business is conducted. On 1 January, 2002, eleven European countries introduced a single currency, the euro. The rate of exchange for each of these countries has been fixed since 1 January, 1999 by the European Monetary Union (EMU). On 1 July, 2002 the eleven countries adopted the euro as their official currency and the previous currencies are no longer be legal tender.