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      • The euro is the most tangible proof of European integration: around 341 million people use it every day, making it the second most-used currency worldwide. The benefits of the common currency are immediately obvious to anyone travelling abroad or shopping online on websites based in another EU country. Member countries using the euro
      european-union.europa.eu/institutions-law-budget/euro/countries-using-euro_en
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  2. en.wikipedia.org › wiki › EuroEuro - Wikipedia

    In total, as of 2013, 182 million people in Africa use a currency pegged to the euro, 27 million people outside the eurozone in Europe, and another 545,000 people on Pacific islands. [58] Since 2005, stamps issued by the Sovereign Military Order of Malta have been denominated in euros, although the Order's official currency remains the Maltese ...

  3. The euro is the most tangible proof of European integration: around 341 million people use it every day, making it the second most-used currency worldwide. The benefits of the common currency are immediately obvious to anyone travelling abroad or shopping online on websites based in another EU country.

  4. Nov 08, 2009 · 326 million people (excluding Kosovo and Montenegro which combined account for 3 million people). http://en.wikipedia.org/wiki/EurozoneThe Eurozone will be expanded to, Bonaire, Saba and Sint ...

  5. www.thebalance.com › what-is-the-euro-3305928What Is the Euro?

    • Definitions and Examples of The Euro
    • How The Euro Works
    • Advantages and Disadvantages of The Euro
    • Notable Happenings

    The euro was initially proposed as the official currency of the entire European Union in order to unify the countries. All 28 member nations pledged to adopt the euro when they joined the EU, but they must meet budget and other criteria before they can officially switch currencies. These were set out by the Maastricht Treaty.1 As a result, seven EU members have not adopted the euro. As of 2021, they were Bulgaria, Croatia, Czechia, Hungary, Poland, Romania, and Sweden. Denmark has opted out.2 As of 2021, there are 19 member countries of the European Union that use the euro as the official currency.3 They are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.4 Four non-EU territories also use the euro: Andorra, Vatican City, Monaco, and San Marino.5 Fourteen African nations peg their currency to the euro.6 These are former French colonies that adopted the...

    Like the dollar, the euro is managed by one central bank, the European Central Bank (ECB).10Being shared by 19 countries complicates its management, as each country sets its own fiscal policy that affects the euro's value. As of the first quarter of 2021, foreign governments held 2.4 trillion in euros compared to $6.9 trillion in U.S. dollar reserves. The International Monetary Fund (IMF) reports this quarterly in its COFER Table.11 The euro symbol is €. Euros are divided into euro cents; each euro cent is one one-hundredth of a euro. There are seven denominations: €5, €10, €20, €50, €100, €200, and €500.12 Each bill and coin is a different size. The bills also have raised print, while the coins have distinct edges.13These features allow the visually impaired to distinguish one denomination from another. The euro-to-dollar conversion details how many dollars the euro can buy at any given time, as measured by the current exchange rate. Forex traders on the foreign exchange market det...

    Advantages Explained

    Financially weak countries are backed by stronger ones: Smaller countries have the advantage of being backed by Europe's powerhouse economies, Germany and France. The euro allows these weaker countries to enjoy lower interest rates because the euro isn't as risky to investors as a currency with less demand from users and traders. Over the years, these lower interest rates have led to more foreign investment, which has boosted the smaller nations' economies. Large companies in bigger countries...

    Disadvantages Explained

    Countries can't print their own currency: Adopting the euro means countries also lose the ability to print their currency. That ability allows them to control inflation by raising interest rates or limiting the money supply. Countries give up fiscal autonomy: Some countries are reluctant to give up some authority over their monetary and fiscal policies when they join the eurozone. Countries must keep their budget deficit low and dramatically cut spending: Countries that adopt the euro must ke...

    The first phase of the euro launch occurred in 1999 when it was introduced as the currency for electronic payments. These included credit and debit cards, loans, and other uses for accounting purposes. During this initial phase, old currencies were used for cash only. Eleven nations adopted it right away. The second phase was launched in 2002 when euro coins and banknotes appeared in physical form. Each country has its own distinct form of the euro coin.17 When the euro launched in 2002, it was worth $0.87. Its value grew as more people used it through the years, and it reached its record high of $1.60 on April 22, 2008. Investors fled from dollar-denominated investments during the near-bankruptcy of investment bank Bear Stearns. As it became apparent the U.S.-based subprime mortgage crisis had spread globally, investors fled back to the relative safety of the dollar. By June 2010, the euro was only worth $1.20. Its value rose to $1.45 during the U.S. debt crisis in the summer of 20...

    • Kimberly Amadeo
  6. en.wikipedia.org › wiki › EurozoneEurozone - Wikipedia

    Eight members of the European Union continue to use their own national currencies, although most of them will be obliged to adopt the euro in the future. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

    • 1 January 1999
    • Euro
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