When Did the Euro
In 1848 a famous French writer named
Victor Hugo said these words: "A day will come when all
nations on our continent will form a European
brotherhood... A day will come when we
shall see ... the United States ofAmerica and the United
States of Europe, face to face, reaching out for
each other across the seas." From ideas
like this one, the people of Europe decided to form a
December 17, 1946 The European
Federalists Union is made in Paris, France.
After the Second World War, there was
a treaty called the Treaty
of Rome that was signed in
1957. A treaty is an agreement that countries sign. This
treaty formed something called the European Economic
Community (EEC). It had six European countries in it. The
countries were Belgium, Germany, France, Italy, and
Luxembourg, and the Netherlands. This group was the one
that wanted to do more to pull Europe
The European Community (EC) was
established in 1958 to promote trade and cooperation
between its members. The first six members were Belgium,
Luxembourg, The Netherlands,France, Italy, and West
The United Kingdom, Ireland, and
Denmark joined the EC.
European Monetary System was
Greece joined the EC.
Portugal and Spain joined the
There was another treaty called
Maastricht Treaty. It was the
first time anyone talked about a union that would have
common currency, and would join together for money
reasons. They met in Maastricht, which is in the
They wanted to have a European currency in place by
January 1, 1999. The treaty talked about other things,
too, like the environment, education, and public health.
They wanted a stronger Europe.
on European Union introduced
the Economic and Monetary Union (EMU). The European
Monetary Union is an agreement for participating
countries that allows pooling of currency reserves and
introduction of a common currency.
Union (EU) was established in
1993 by the members of the European Community. The EU is
an economic and political union.
In 1994 the European Monetary
Institute was created as a step toward establishing the
European Central Bank (ECB) and a common
A group called the European
Council of Madrid (in Spain)
decided to call this new money the euro, and said it
should be divided into cents.
Austria, Finland, and Sweden joined
the EC. That made a total of 15 countries in the
The designs for the euro were agreed
upon at the European Council meeting in Amsterdam in June
The European Common Bank (ECB) was
established. The ECB's job was to set a single money
policy and interest rate for the countries who would use
the new currency. The ECB worked with the central banks
of all twelve countries.
The euro was adopted by eleven
countries including Austria,
Spain as their official
currency. On January 1, 1999, the money from the 11
countries that were in the European Union had the value
of their money set. That means they couldn't change it
became country number 12 to adopt the euro.
The euro became the common currency of
Europe for twelve countries in the European Union. This
was the biggest changing of money that the world had even
The Spanish government took over the
European Union's rotating presidency.
stamps with the euro are valid
in January. After June 30, 2002. existing stamps with the
old currencies aren't valid.
For a timeline that gives
the whole history of the European union, click
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