Euro

Done by: the second-year student of the department of M&M Group 209a Telmanova Yevgenia

The euro (sign: ; code: EUR) is the official currency of the eurozone: 17 of the 27 member states of the European Union.

 used daily by some 332 million Europeans

over 175 million people worldwide - including 150 million people in Africa - use currencies which are pegged () to the euro
The euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar

The history
The name euro was officially adopted on 16 December 1995. The euro was introduced to world financial markets as an accounting currency on 1 January 1999

Coins and The euro isbanknotes divided into 100 cents There are seven different
denominations of the euro banknotes, each having a distinctive color and size The design for each of them has a common theme of European architecture in various artistic eras The obverse () of the banknote features windows or gateways while the reverse bears different types of

 There are eight euro coin denominations, ranging from one cent to two euros
The coins first came into use in 2002

They have a common reverse, portraying a map of Europe, but each country in the Eurozone has its own design on the obverse, which means that each coin has a variety of different designs in circulation at once

The euro is managed and administered by the Frankfurtbased European Central Bank (ECB) and the Eurosystem (composed of the central banks of the eurozone countries). As an independent central bank, the ECB has sole authority to set monetary policy.

The ECB in Frankfurt, Germany, is in charge of the eurozone's monetary policy.

The Eurosystem participates in the printing, minting and distribution of notes and coins in all member states, and the operation of the eurozone payment systems.

Currency sign
A special euro currency sign () was designed after a public survey had narrowed the original ten proposals down to two. Inspiration for the symbol itself came from the Greek epsilon () a reference to the cradle of European civilization and the first letter of the word Europe, crossed by two parallel lines to certify the stability of the euro

Joining the euro is obligatory for new members of the European Union (EU)
Monument of Euro in Frankfurt

The euro's function is to provide, through a single currency, a cohesion of the economic policies of the members of the European Union and to facilitate intraCommunity trade.