Deeps

The euro The euro is the single currency shared by (currently) 16 of the European Unions section States, which together make up the euro area. The grounding of the euro in 1999 was a major step in European integration. It has also been one of its major successes: around 329 million EU citizens now use it as their currency and enjoy its benefits, which get out spread even more widely as another(prenominal) EU countries adopt the euro. When the euro was launched on 1 January 1999, it became the new formal currency of 11 Member States, replacing the old national currencies such as the Deutschmark and the French franc in deuce stages. First introduced as a virtual currency for hard cash-less payments and score purposes, while the old currencies continued to be used for cash payments and considered as sub-units of the euro, it then appeared in physical form, as banknotes and coins, on 1 January,2002. The euro is not the currency of all EU Member States. Two countries (Denmark and the United Kingdom) agreed an opt-out clause in the accord exempting them from participation, while the remainder (many of the newest EU members plus Sweden) have only to meet the conditions for adopting the single currency. Once they do so, they will supervene upon their national currency with the euro. Which countries have adopted the euro and when?

|1999 |Belgium, Germany, Ireland, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland | |2001 |Greece | |2002 |Introduction of euro banknotes and coins | |2007 |Slovenia | |2008 |Cyprus, Malta... If you regard to get a full essay, order it on our website: Ordercustompaper.com

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