Updated February 21, 2017 | Factmonster Staff
The euro is the new official currency of all the counties in the European Union. It was introduced in an effort to unite these countries economically. By the end of summer 2002, the euro replaced the old currency for the participating nations. Say goodbye to the franc and the Deutsche mark! Euro notes (paper money) are decorated with windows, bridges and other elements that symbolize European architecture. The notes come in different sizes and use the colors blue, green, yellow, orange and mauve. Euro coins are made in silver, gold and copper tones and show a common design on one side and various national symbols on the other. Because they are made by mints in different countries, they vary slightly in size.
- January 11, 1999
- The euro begins to be used electronically.
- January 1, 2002
- Euro notes and coins enter circulation.
- July 1, 2002
- Local money is completely replaced by the euro.