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The euro came into existence on 1 January 1999, although it had been a goal of the European Union (EU) and its predecessors since the 1960s.
A brief history of the steps leading to the euro’s launch in 1999 and the reasons behind its creation.
The euro arose from the 1991 Maastricht Treaty, in which the 12 original member countries of the European Community (now the European Union) created an economic and monetary union and a corresponding common unit of exchange.
The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$1.1743 at the time).
Although it debuted on January 1, 1999, the euro’s origins go back a few years earlier. In 1991 the 12 members of the European Community signed the Maastricht Treaty, which created an economic and monetary union that called for a common unit of exchange.
Here’s a brief history of the money that has come to define the hopes of the European Union. The currencies of the 15 EU-member countries over their flag and a 1 EURO coin. It all began with...
The euro was launched on 1 January 1999, when it became the currency of more than 300 million people in Europe. For the first three years it was an invisible currency, only used for accounting purposes, e.g. in electronic payments.
The launch of the euro on 1 January 1999 and the introduction of euro banknotes and coins in 2002 marked the culmination of a long journey that had begun decades before, driven by a simple and compelling logic: it is easier to trade in a common market if you use a common currency.
The story of the Euro begins towards the end of the 1970s at the Rambouillet Palace around the fringes of the economic summit. The German Chancellor Helmut Schmidt and the French President Valéry Giscard d’Estaing are searching for a European answer to the U.S. Dollar.
A brief history of the reasons behind the creation of the euro, and the steps leading to the single monetary system. The meaning of the euro (€) symbol and rules around its usage. How, when and where to exchange old national currency into euro.