A nation-state is a politically independent state with internally defined borders and a sovereign government in which citizens and inhabitants share a common culture, creed, race, language, and nationality. We should note that this does not imply that all nation-states have entirely the same language, culture and traditions, however in a nation-state the majority of its inhabitants share some elements. Experts see globalization as a threat to nation-states. Globalization is the process of making the world's economies and businesses more interconnected and interdependent, essentially eliminating national borders while respecting commercial and economic activities. An example of this would be the euro, a currency developed by the EU to facilitate monetary transactions between states. It is not known whether facilitating the movement of capital and labor between EU nations will destroy the national identities of individual countries.