1. THE EUROPEAN UNION
How do individuals, businesses and economies benefit from using the Euro?

2. The Euro €
In 1999, the euro area was established as a currency in eleven of the then fifteen EU Member States.
Of the 28 EU Member States today, seventeen have adopted the euro. Estonia most recently joined in 2011, and Latvia is expected to adopt the euro in 2014.
In response to the economic and financial crisis, the EU created a new set of rules on enhanced EU economic governance which entered into force in December 2011.

3. Before the Euro: a multitude of currencies
Cumbersome inter-state trading
Comparing prices more difficult
Currency exchange can be unpredictable
in contracts/ loans 3

4. The Euro: a single currency for Europeans
The 12 countries that introduced the Euro in 2001:
Austria
Belgium
Finland
France
Germany
Greece
Italy
Ireland
Luxembourg
Netherlands
Portugal
Spain 4

5. The Euro: a single currency for Europeans
Can be used everywhere in the 17-country euro area
Coins: one side with national symbols, one side common
Notes: no national side
New Euro countries since 2001:
EU countries using the euro in 2013
EU countries not using the euro
Cyprus (2006)
Malta (2006)
Slovakia (2008)
Slovenia (2009)
Estonia (2011)

6. Some of the Euro’s benefits
International
trade is
facilitated
Currency
exchange costs
are eliminated
European Central
Bank keeps price
inflation low so
interest rates also
remain low
Travelling is made
easier
Comparing prices
is made simpler 6

7. United in Diversity - The €uro7

8. United in Diversity - The €uro

9. The euro was introduced in 1999
European Central Bank
The European Central Bank (ECB) is the central bank for Europe's single currency, the euro.
The ECB’s main task is to maintain the euro's purchasing power and thus price stability in the euro area.
The ECB operates independently from Member State governments.
The euro area comprises the 17 European Union countries that have introduced the euro since 1999.
The euro was introduced in 1999