Euro is the currency of EU 19 countries. The 19 countries are Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Slovenia, Spain, Malta, Cyprus, Slovakia, Estonia, Latvia and Lithuania, which are collectively called the euro zone.
The euro is the most important achievement of European monetary reform since the Roman Empire. The euro not only perfected the European single market, but also promoted the free trade among the countries in the euro zone. It is also an important part of the EU integration process.
The euro is managed by european system of central banks, which is composed of the European Central Bank and the central banks of the euro zone countries. The European Central Bank (ECB), headquartered in Frankfurt, Germany, has the right to independently formulate monetary policy. The central banks of euro zone countries participate in the printing, casting and distribution of euro banknotes and coins, and are responsible for the operation of the euro zone payment system.
Extended data:
The development of euro:
1957 Rome treaty 1969 65438+February put forward the plan to establish the European economic and monetary union.
1969 In March, the Hague Conference of the European Community put forward the idea of establishing a European monetary union, and entrusted pierre werner, then Prime Minister of Luxemburg, with specific proposals in this regard.
1971March, the Werner Plan was passed, and the construction of the European single currency took the first step. The plan advocates the establishment of European economic and monetary union in three stages within 10 year. However, the subsequent oil crisis and financial turmoil stranded the Werner Plan.
1979 In March, with the advocacy and efforts of France and Germany, the European monetary system was established and the rights and interests of European monetary units were born. The European monetary system began to operate.
10 The EU Treaty came into effect.
1995 12 15, the Madrid summit decided to change the name of the single European currency to the euro to replace Ecuador.
The European Central Bank was established in 1998. In May of the same year, the Brussels Summit formally arranged the list of founders of 1 1 Euro.
On June 65438+1 October1day, 2002, after a three-year transition period, the single European currency Euro officially entered circulation. In July of the same year, the original currency stopped circulating. Euro banknotes and currencies have officially entered the market and become currency in circulation. On February 28th of the same year, member currencies withdrew from circulation, and the deposit period of euro and member currencies ended.
Since 2009, the share of euro in foreign exchange reserves has fallen sharply.
Since 20 18, with the changes in the relationship between the United States and Europe, the voice of European politicians on improving the international status of the euro and promoting European integration with the help of the euro has been constantly rising.
20 1 9 65438+1October1,the euro celebrated its 20th birthday. From the virtual currency originally used only for bookkeeping and financial transactions to the real currency used by 340 million people in 19 EU countries, the euro has been questioned and faced with crisis in the past 20 years.
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