|
|
|
|
|
 Introduction of the euro
|
 |
|
On 1 January 1999 the euro was introduced as the single currency in the participating member states. Their national currencies thereby ceased to exist as independent currencies. Initially, the euro functioned as account money; euro banknotes and coins were not introduced until 1 January 2002. Greece did not comply with the convergence criteria at the convergence assessment in the spring of 1998 and therefore could not adopt the euro from day one. Greece adopted the euro on 1 January 2001.
Apart from Denmark, Sweden and the UK do not participate in the euro.
|
|
 Read by others |
|
