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The Euro became the official currency in 11 European countries

Date : 1999-January-01

Country/Region : European Countries

Description :

The third and final stage of the Economic and Monetary Union (EMU) of the European Union started on 1st January 1999, and 11 Member States of the European Union, such as Austria, Belgium, Germany, France, Italy, Spain, Ireland, Luxembourg, Netherlands, Portugal, and Finland accepted the Euro as their official currency. At that time, the Euro was already valid for bank transfers, and notes and coins were introduced on 1st January 2002. Also, the European System of Central Banks (ESCB) established a common monetary policy.

Category : Economic

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