The euro was adopted on January 1, 1999 by 12 of the 15 member states of the European Union as a single unified currency to replace individual national currencies like the French franc and German mark. On January 1, 2002, euro banknotes and coins were introduced and citizens exchanged their legacy currencies for euros, with the goals of creating a more stable economy, improving economic growth, and further integrating European financial markets and politics. While the euro has brought some economic benefits, issues around differing economic performance among countries and inability to independently adjust interest rates remain challenges.

1. Introduction
the history
Members
Problems
Design
The Goals
Sources

2. What Is a Euro?
The euro is the new
currency that many
countries that are part
of the European Union
now use. The symbol
for the euro is "€" and
its abbreviation is
"eur."

3. Europe's Move Toward One
Currency
Starting on January 1,
2002, most Europeans
exchanged their
change and paper
money for a different
kind of coins and
banknotes. They took
their French francs,
German marks, Dutch
guilders, and other
national currencies to
the bank and traded
them in for euros.

4. To help ease exchange
rate volatility among
different European
nations, which hindered
investment by
companies in various
states, the European
Union (EU) developed
the European Monetary
System in 1979. This
concept led to the
creation of the European
Currency Unit.

5. Over time, it became clear
that closer economic
convergence was needed
among European nations to
build a stronger Europe. In
1991, members of the EU
approved the Maastricht
Treaty, which called for a
single currency throughout
Europe for the 21st century.
This currency came to be
called the euro and was
adopted by 12 of the 15
member states of the EU on
Jan. 1, 1999. The
independent European
Central Bank was created to
oversee monetary policy.

6. The euro began life on January
1, 1999, when exchange rates
with "legacy" currencies were
irrevocably fixed. For the first two
years of its existence, it was only
an electronic currency used by
banks.
The first notes and coins were
issued with great fanfare on
January 1, 2002, when the euro
became legal tender for all
transactions in
Austria, Belgium, Finland, France,
Germany, Greece, Ireland, Italy, L
uxembourg, Netherlands, Portuga
l and Spain. The old national
currencies were phased out over
the next few months.

8. the euro became legal tender for all transactions in Austria, Belgium, Finland,
France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal and
Spain. The old national currencies were phased out over the next few months.
The only EU states not to adopt the currency were Britain, Denmark and Sweden.
The Danes rejected the euro by 53%-47% in a referendum in September 2000, but
the Copenhagen government is expected to call a second poll shortly. Sweden is
due to hold a referendum on September 14 this year.
Many of the EU's 10 new members - Poland, the Czech Republic, Hungary,
Slovenia, Slovakia, Estonia, Lithuania, Latvia, Malta and Cyprus - are expected to
apply to join the currency when they become part of the Union in 2004.

9. • to create a more stable European economy that
would invite competition and opportunity for
businesses and markets
• improve economic growth across Europe.
• offer more integration among financial markets.
• create a stronger European presence in the global
economy and develop a more politically unified
Europe.

11. • While the euro has brought stability to European economies, the
system does have limitations.
• All nations that operate under the euro system must, by default, have
the same interest rate.
• This has created strains on some economies, such as Germany. If its
economy slows, the government cannot lower interest rates to
stimulate growth.
• Despite using a common currency, all European nations have not
performed equally economically.
• While some nations experienced growth in exports, others were in
decline.
• While some have gained competitiveness, some have fallen behind.
• The hope of some toward political unity is still far from the horizon.

13. Euro banknotes in
all countries look
the same, front
and back.

14. euro coins have
different designs on
the backs, depending
on which country
made each one. the
fronts are all the same,
but each state uses its
own design on the
back.

15. Notes, which come in denominations of
500, 200, 100, 50, 20, 10 and 5 euros, are
identical throughout the EU.
Coins carry national symbols on one
side and a map of Europe on the other
and are available in denominations of
1 and 2 euros and 50, 20, 10, 5, 2 and 1
cents.
Notes and coins can be used anywhere
within the Eurozone, regardless of
country of issue.

16. • A recent poll found 45%
of Britons want the
Queen on euro coins if
the UK joins up.
• followed by 25%
preferring Britannia.
• 13% for the Houses of
Parliament.
• 5% for Shakespeare,
• 3% for the Beatles and
1% each for Nelson's
Column, Wembley and
David Beckham.

17. • http://en.wikipedia.org/wiki/Euro
• http://www.euintheus.org/
• http://www.investopedia.com/articles/economics/12/behind-
the-euro-history-and-future.asp
• http://www.cbc.ca/news/background/euro/history.html
• http://www.ehow.com/facts_5037633_history-euro-
currency.html
• http://europa.eu/index_en.htm