History of the Euro: background for the Amero

The introduction of the euro as a cash currency completes the transition to the single currency in the 12 countries of the eurozone.

It has thrown up major challenges for the banking and retail sectors that could prove costly in the short-term.

The launch of the cash euro has wideranging effects on 300 million EU citizens from Dublin to Rome.

It should make it easier to travel and do business across Europe.

But it also throws up broader questions on the future politcal direction of the European Union.

Euro quiz

Euro cash

History of the Euro

The Euro and you

Spent currencies

The euro was launched on 1 January 1999 as an electronic currency and became legal tender on 1 January 2002, but attempts to create a single currency go back 20 years. This chart shows the value of the euro (before 1999 as a basket of the 11 legacy currencies) against the US dollar.

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History of the Euro Twelve of the 15 EU countries (Germany, France, Italy, Spain, Portugal, Belgium, Luxembourg, the Netherlands, Austria, Finland, Greece and Ireland) are members of the eurozone. On 1 January 2002 the euro replaced the old national currencies. As the chart shows, European currencies have always fluctuated against the dollar, even as debates have raged about the euro.