First, it must be an EU Member State – adopting the euro is an
important step of EU membership.
The euro, introduced on 1 January 1999, has replaced the national
currencies of 19 of the 27 EU Member States. The single currency is
the legal tender of 340 million EU citizens, who can rely on prices
remaining stable as they work and travel across borders. Seven of the
eight other EU Member States – Denmark is excluded under a special
arrangement – are committed under the Treaty on the Functioning of
the European Union to adopt the euro, which implies that they must
strive to fulfil the Treaty’s convergence criteria. What are these
criteria?
First, the Treaty requires Member States to achieve a high degree of
sustainable economic convergence before they can join the euro
area. This means that their economies must be able to keep pace
with those already using the euro. Economic convergence is
measured in terms of progress with regard to:
price developments, i.e. inflation
fiscal balances and public debt
exchange rates
long-term interest rates
In addition, other factors relevant to economic integration and
convergence are also taken into account, for example the strength of
the country’s institutional environment
To leave the eurozone we find the lack of a domestic payments system
and uncertainty concerning the redenomination costs to be the biggest
risks associated with the cost of Finland’s exit. Still, the costs of Finland’s
exit need not be very large, around 10 billion euros in the best-case
scenario, but we also acknowledge a very costly scenario for the exit. Any
member country considering exit from the euro should weigh the short-
term costs of an exit against the possible long-run benefits of having a
domestic currency
The coin before the euro in spain was the peseta the equivals 1 euro 166
pesetas
The five hundred euro note (€500) is the highest-value euro banknote and
was produced between the introduction of the euro (in its cash form) in
2002 until 2014. Since 27 April 2019, the banknote has no longer been
issued by central banks in the euro area, but continues to be legal
tender and can be used as a means of payment.[5] It is one of the highest-
value circulating banknotes in the world, worth around 550 USD,
3,943 CNY, 59,347 JPY, 533 CHF or 449 GBP as of May 2020. The note is
used in the 23 countries which have the euro as their sole currency (with
22 legally adopting it), with a population of about 343 million
The european unión flag, a map of europe the Word euro in latin and
griego the inicial letters of the european bank the bill of 5 that have a
classic draw
The five hundred euro note (€500) is the highest-value euro banknote and
was produced between the introduction of the euro (in its cash form) in
2002 until 2014. Since 27 April 2019, the banknote has no longer been
issued by central banks in the euro area, but continues to be legal
tender and can be used as a means of payment.[5] It is one of the highest-
value circulating banknotes in the world, worth around 550 USD,
3,943 CNY, 59,347 JPY, 533 CHF or 449 GBP as of May 2020. The note is
used in the 23 countries which have the euro as their sole currency (with
22 legally adopting it), with a population of about 343 million
