Tuesday, May 08, 2007

The Euro

I think (almost) everyone has heard or used the Euro. The single European currency in 13 countries, the Euro - in my opinion - changed Europe.

The Euro was already introduced as an accounting currency in 1999, but only took physical shape in 2002. Most EU countries joined in using the Euro, notably though the UK, Denmark and Sweden still do not use the Euro.
The currency consists of coins and notes.

The coins are of 2euro, 1 euro, 50cents, 20cents, 10cents, 5cents, 2cents, and 1cent. Interesting about the coins is that one side is identical to all countries using the Euro, the other representing a 'national' symbol. Trust me some coins have become real collectors items.

The notes are of 500euro, 200euro, 100euro, 50euro, 20euro, 10euro and 5euro and are all the same throughout the countries using the Euro. The design on the notes represents different European architectural styles.

The statue in the photo is Europa, holding the Euro and is situated in front of the European Parliament.

I would call this EU lesson no. 2.


Frank said...

You are right that the Euro is used in 13 EU countries (Belgium, Luxembourg, the Netherlands, France, Germany, Spain, Portugal, Italy, Greece, Austria, Ireland, Finland and Slovenia), but there are also some non EU countries that use the Euro: Vatican City, San Marino and Monaco, who also issue their own coins, + Andorra, Montenegro and the Serbian province of Kosovo.
That makes the total number of countries and territories using the Euro 19.

Abraham Lincoln said...

This is/was an interesting post. I read all I could about the proposed change when it was happening but never did see any of the coins of notes until today on your blog. I am somewhat astonished that 19 places could get together and agree on a standard value. I assume that is works the same for all. A specific car in one country would be priced exactly the same in another?

I also wondered what the exchange rate it with the US Dollar for example.

I hope you can come and learn about my being able to finally fly.

Andreea said...

frank, absolutely correct - i just thought i'd keep it euro-simple :) (but thanks for adding this informtion);

AL - all countries have the same currency, but the prices are set by the national respective markets (for ex. bread in Germany can cost 0.50cents, in Belgium 1,20euro). so we share the same monetary currency, but not the same buying power. 1euro = 1.35USD

Frank said...

Andreea, that was just my banking professional background blending together with my Mr. Knowitallbetter attitude bursting out ;-)

Via this link you can find all Euro coins (did you know that there were two different versions of the common side of the coin?).
Also the commemorative coins are interesting - I particularly liked the Atomium coin ;-)

Andreea said...

and i thought getting all my info off the europa.eu / euro page would be enough. phew :) (http://ec.europa.eu/economy_finance/euro/notes_and_coins/commemorative_coins_en.htm)
i think the san marino 2005 looks good too

April said...

First I was not too much delighted to have the Euro come but now I see all the advantages when travelling in Europe: no exchanging of money, being able to compare ... and I like the different coin sides. all in all, I think it's good for Europe.

Fabrizio ikol22 said...

May I add that about notes their back it's ever a "bridge"? A different, stylized bridge that represent "a bridge" from country to country.