Possibly, if you give any weight to preliminary findings released by the Commerce Department's U.S. Commercial Service. According to the Service, the transition to a single European currency should prove few, if any, problems for U.S. exporters and a host of benefits.

First of all, U.S. companies selling to multiple European countries will find it more efficient to deal with only one currency instead of a dozen. Small and mid-sized firms should see reduced exchange rate risks because there will be no need to cope with the volatility inherent in many different exchange rates.

Another benefit, according to the Commerce Department, will be transparency in prices. Buyers and sellers can more easily compare prices of comparable goods as well as transactional costs such as transportation.

"Overall, U.S. firms should benefit from the conversion to the euro," says senior commercial officer Eric Weaver, who adds that any challenges associated with the conversion to the new currency system should be, "short-lived."