Index - local - the euro has been with us for two decades

Index – local – the euro has been with us for two decades

After many years of preparation, the single currency of the European Union, the euro, became a reality in 2002. At that time, the joint bank replaced the national currencies of 12 eurozone countries, such as the German mark, the French franc and the Italian lira.

Since then, it has become the currency of more and more countries, and now euro banknotes and coins are in circulation in 19 countries. Remembering the anniversary of 340 million people euronews.

In the coming years, Bulgaria, Croatia and Romania will also be able to join the single European currency. In the case of Hungary, there is not even a target date, and both the Ministry of Finance and the Minister of Finance have repeatedly emphasized this year that it would be appropriate if it were that country.

The position of the global reserve currency of the dollar has not been broken, as it represents 60 percent of central bank reserves globally, with the European currency taking second place, representing 20 percent of central bank reserves worldwide. The idea of ​​the euro dates back to the 1970s to facilitate trade within the European Union and compete with the dollar.

(Cover Image: Shutterstock)

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