The Euro - Moruzzi Numismatica Roma
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The Euro
The euro is the common official coin of the European Union and the single currency in sixteen member states currently participating in the Economic and Monetary Union, that is: Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain. The complex of these countries, informally known as Eurozone, has more than 320 million inhabitants; taking into account also those third countries using currencies linked to the euro, this single coin directly involves more than 480 million people around the world. However, eleven of the 27 members of the European Union do not adopt euro as official currency. In the specific instance, Denmark and United Kingdom have a clause that allows them to maintain indefinitely its national currencies; also Sweden, which is member of the EU since 1995, is using as official coin the Swedish krona. In the remaining eight countries, the introduction of the common currency will be possible when the macroeconomic conditions will guarantee the observance of the Maastricht criteria. In addition to the members of the Union, some microstates such as the Vatican City, the Principality of Monaco, San Marino and Andorra, adopted the euro according to the pre-existing conditions of monetary union with the EU member countries (in fact Andorra do not mint euro coins). Finally, Montenegro and the separatist Serbian region of Kosovo adopted the euro unilaterally. The debut of the euro on financial markets dates back to 1999, but the money really started to circulate on January the 1st 2002 in the twelve countries of the Union which first adopted the new currency.
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