5 Interesting Facts About The Euro

The euro is one of the world’s most closely-watched currencies. As the official currency of 19 European Union (EU) member states, the euro is a major player in global market movements.

What’s interesting about this currency is that it is a relatively new one compared to other currencies, yet it has managed to climb to the top.

A brief history of the euro

The euro was officially launched in electronic form back in January of 1999. By the end of summer 2002, it had replaced the old currency of several nations. Its reach has expanded over the years as more European countries adopted it.

Whether you use it, hear of it, or trade it, these are five interesting facts about the euro you may not have known about it.

5 Things You Didn’t Know About the Euro

#1: Talks of the Euro Began as Early as the 60s

The currency may not have been launched till the 90s but talks of the currency date as far back as the 60s when members of the European Economic Community (EEC) met to launch an initiative for economic monetary union. It wasn’t until the 1992 Treaty of Maastricht that member countries finally established a set of rules for governing a common currency system.

#2: Only 12 Countries Used the Euro in the Beginning

The first countries to adopt the currency were Belgium, Germany, Luxembourg, Finland, Spain, Portugal, Greece, Italy, Austria, Ireland, France and The Netherlands.
 

#3: The symbol of the Euro Comes from a Greek Letter

The Grexit may have been the first country to talk of ‘exiting’ the eurozone, but the symbol of the euro, €, is based on the Greek letter ‘epsilon’ ?. It was adopted with two parallel horizontal lines cutting across the middle of the alphabet.

#4: 9 EU Members Don’t Use the Euro

Denmark, Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Romania, Sweden, and the United Kingdom are the nine EU members who don’t use the Euro. The United Kingdom is set to leave the bloc in close to two years after Brexit negotiations end.