What is the Euro?

The Euro is the official currency of all countries participating in the European Monetary Union.Within which we can point to France, Germany, Spain, Italy, Luxembourg, Austria, among others.

This measure took effect, as of January 1, 1999. Course, that the measure was agreed well in advance. More specifically, in the year 1995. The measure rule began, so later, as it should mint coins and print the tickets that were circulated by the financial systems of each member country. Aside from giving the respective value, the Euro, in line with local currencies existing in each of the participating nations.

Thus, as each local currency should be rounded, at the time of conversion of each of them, to the Euro. This measure was contemplated in the regulatory framework that governs the European Monetary Union. Therefore, the rounding of local currencies, to turn the Euro, will be carried out, because of the “cent” or second decimal.

Regarding the official abbreviation of the Euro currency, this is “Eur” in each of the official languages ​​of the countries members of the agreement.

Was taken as masculine, the word Euro. This situation did not occur in several of the currencies of the member countries, before performing this agreement.

By the beginning of the century, the Euro has managed to replace several of the official currencies of the member countries. Whereupon, the existing coins, no longer circulate banking systems and, in that way, people have become more quickly accustomed to this new currency.

This is not a minor point, because in the beginning, the EU member countries in terms of its citizens were a little reluctant to change their currencies to the Euro. Not to forget that several European countries are quite nationalistic. Also great lovers of their traditions and customs. It is for this reason that in the beginning, to cease using their respective currencies, was not entirely comfortable.

With respect to keep the Euro, which is “€” was taken from the Greek letter epsilon. This is due to a recognition that the cradle of Europe, was the classical culture of ancient Greece. This is how that sign, likewise, represents a capital E, which reflects the initial of the word Europe.

On parallel lines crossing the sign, they represent the stability of the Euro, as a currency. Which is not far from reality, as today, the Euro, is one of the hardest currencies global financial system. By this we mean, that its value is considerably higher than that of most international currencies. Even the value of the yen or the U.S. dollar. As paradoxical from the last case, since the dollar is the universal currency, which is used in the globe, at the time of business. This may change over time.


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