The euro zone

0
2161

On January 1, 2002, the new era came. Twelve European countries issued new euro notes and COINS, which opened a new chapter in European history. It is the culmination of a six-year plan to design and print more than 14 billion euro notes and 50 billion euro COINS. A huge undertaking! About 10 billion notes were immediately put into circulation, replacing the national banknotes, while the rest were restocked.

Although they are not members of the European Union, Monaco, SAN marino and Vatican city (but not Andorra) also have state-dominated euro COINS. These COINS occasionally end up in general circulation, as their scarcity has led to greater interest among coin collectors.

Although the euro on January 1, 2002 was put into circulation, but “creation” of the European people’s increasingly close alliance between “idea has been around for decades, such as the 1957” treaty of Rome, “stated. In 1979, the European monetary system (EMS) was introduced and the exchange rate between participating countries was locked. January 1, 1999 – the euro was born when the participating countries established their own currencies against the euro. After three years of transition, the euro was used only as an electronic currency until the actual euro notes and COINS were used.

Non-participating eu countries.

Denmark: after voters rejected the Maastricht treaty after a referendum in June 1992, they opted out of the euro. In September 2000, the referendum on whether to join the single currency was rejected by 53% to 47%. The Danish government announced in January 2002 that it would hold a second referendum on the issue, but no date has been set. The Danish currency is still involved in the exchange rate mechanism (erm-2) and is trading at 2.25 per cent against the euro.


Sweden: joined the European Union in 1995 and did not opt out of the euro. The Swedish government announced in January 2002 that it intended to hold a referendum in 2003. The date of the Swedish referendum is now set for 14 September 2003.

Britain: negotiations to withdraw from the euro in the Maastricht treaty. Now the Labour government is right to take part in the economic conditions of the referendum, promising to hold a referendum.

New eu members

Potential new eu candidates must, like past members, have a two-year exchange rate before they are included in the monetary union. That means it will take years for coin collectors to start looking for new euro COINS. The introduction of a common currency in member states requires a clear set of conditions, according to heinrich volney, who is in charge of eu expansion in Brussels. The euro is ready for three stages:

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here