Euro

Euro

Euro overview

The euro (sign: €; code: EUR) is the official currency of the European Union and its territories. Currently, 19 of 28 member states use the euro; this group of states is known as the eurozone or euro area. It is the second largest and second most traded currency in the foreign exchange market after the United States dollar. The euro is subdivided into 100 cents. The currency is also officially used by the institutions of the European Union and its territories, four other European countries, as well as unilaterally by two others, and is consequently used daily by some 343 million Europeans as of 2018. Outside Europe, a number of overseas territories of EU members also use the euro as their currency. Additionally, 290 million people worldwide as of 2018 use currencies pegged to the euro. The euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar. As of August 2018, with more than €1.2 trillion in circulation, the euro has one of the highest combined values of banknotes and coins in circulation in the world, having surpassed the U.S. dollar.The name euro was officially adopted on 16 December 1995 in Madrid. 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). Physical euro coins and banknotes entered into circulation on 1 January 2002, making it the day-to-day operating currency of its original members, and by May 2002 it had completely replaced the former currencies. While the euro dropped subsequently to US$0.83 within two years (26 October 2000), it has traded above the U.S. dollar since the end of 2002, peaking at US$1.60 on 18 July 2008. In late 2009, the euro became immersed in the European sovereign-debt crisis, which led to the creation of the European Financial Stability Facility as well as other reforms aimed at stabilising and strengthing the currency.

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Euro news

Niarchos Foundation gives National Opera 20 mln euro grant | Kathimerini

The Greek National Opera (GNO) has received a 20-million-euro grant from the Stavros Niarchos Foundation, which will be distributed over a period of four years.

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The euro at 20: An enduring success but a fundamental failure

While the euro's survival for two decades is evidence of its success, it was born with fundamental problems that have weakened it, leading to near-constant crisis.

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Key terms to know about euro | Business | Journal Gazette

FRANKFURT, Germany – The euro turns 20 on Tuesday. Here are some key terms to know: Eurozone: The 19 European Union countries that use the euro ...

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Satisfactory performance by Greece in the euro area | Kathimerini

Despite its financial crisis, Greece is among the eurozone countries that have fared relatively well since the introduction of the single currency 20 years ago, according to a report published on Friday by Bloomberg.

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Polish political leader rejects converting to euro currency

The leader of Poland's ruling party has spoken against the conversion to the European Union's currency, the euro

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England men's deaf Futsal squad finish ninth at Euro Championship in Finland

England men's deaf Futsal squad finish ninth at Euro Championship in Finland

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EU leaders approve small steps to buttress euro currency

Leaders of the European Union have agreed to press ahead with a common eurozone budget to help the currency union weather future crises.

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Polish political leader rejects converting to euro currency

The leader of Poland's ruling party has spoken against the conversion to the European Union's currency, the euro

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