EURO

European Union

Australia
Belgium
Finland
France
Germany
Italy
Ireland
Luxembourg
Netherlands
Spain
Portugal
January 1 2002 euro will go into
circulation of the states of the
European union

Adaption of Euro
The final step in the EUs plan for
Economic and Monetary Union
EMU was designed to establish a
single currency and single monetary
authority for EU member states and
was integral part of the 1991
Maastricht treaty that founded the
EU.
Economic criteria
1. Levels of inflation
2. Amount of budget deficit and
government debt
3. Stability of the existing national
currency
EURO
Between1999 and 2002 will co-exist
with the currencies of members

Established in June 1998
Began operation on January 1 1999
Located in Frankfurt Germany
Has total control over all EU monetary
policies including setting interest rates
and regulating the money supply
banknotes
COINS

EXCHANGE RATE

January 4 1999
1 US DOLLAR = O.86 EURO

TODAY
1 US DOLLAR = 0.75 EURO
EURO VS PESO
1 Euro equals
57.98 Philippine Peso


DOLLAR VS PESO

1 US Dollar equals
43.81 Philippine Peso
ADDITIONAL INFORMATIONS


The euro is the second largest reserve currency as
well as the second most traded currency in the world
after the United States dollar.
Based on International Monetary Fund estimates of
2008 GDP and purchasing power parity among the
various currencies, the eurozone is the second largest
economy in the world

As of March 2013, with almost 920 billion in
circulation, the euro has the highest combined value
of banknotes and coins in circulation in the world,
having surpassed the US dollar.