January 1, 1999European UnionUnification in the countrymonetary policy(Single Monetary Act), in July 2002, the euro becameeurozoneThe legal currency of the euro isEuropean Central BankEuropean Central Bank (ECB) andcentral bankThe European System of Central Banks (ESCB) is responsible for management. In addition, the euro is also the currency of six non EU countries (regions). They are:Monaco、San Marino、vatican、Andorra、Montenegro andKosovo Among them, the first four pocket countries use the euro according to the agreement with the EU, while the last two countries (regions) use the euro unilaterally.
From January 1, 2023 local time, Croatia officially launched the euro and joinedSchengen area[10], thus becomingEurogroupThe 20th Member State.[7]
1957《Treaty of Rome》(Treatment of Rome) was approved. In December 1969, the plan of establishing the European Economic and Monetary Union was proposed.
In March 1971“Werner Plan”Through, the construction of the European single currency took the first step.The "Plan" advocates to build it in three stages within 10 yearsEuropean Economic and Monetary Union。However, the subsequentoil crisis andfinancial crisis , causing the "Werner Plan" to run aground.
In March 1979, with the advocacy and efforts of France and Germany,European Monetary SystemAnnouncing the establishment of the European Monetary Unit“Seclusion”Birth.The European Monetary System (EMS) began to operate.
In February 1986, the European Community signed《Single European document》And proposed to establish a unified market at the beginning of 1993 at the latest.
In June 1989, the Delors Report was adopted, which advocates the establishment of the European Economic and Monetary Union in three stages: first, to fully realize the free flow of capital;The second step is to establish the European Monetary Authority (the predecessor of the European Central Bank);The third step is to establish and implement an economic and monetary union and replace the currencies of member countries with a single currency.
After the first phase was officially launched in 1990,
It is necessary to coordinate and unify relevant monetary policies, and the Central Bank Governor Committee has begun to play an increasingly important role.Then onMaastricht TreatyIn the end, it established the status of the European Central Bank.
The European Monetary Authority was established on January 1, 1994 at the beginning of the second phase of the economic and monetary union. Its mission is to coordinate monetary policies, strengthen cooperation among the central banks of member countries and prepare for the establishment of the European Central Bank system.The power to formulate and implement monetary policies remains with the governments of member states.
On December 10, 1991, the European Community Summit adopted《European Union Treaty》(generally known as the Maastricht Treaty), decided to rename the European Community as the European Union.According to the Mayo Treaty, the implementation of the single currency can begin if more than 7 member countries meet the "convergence criteria", as confirmed by the European Council, no later than January 1, 1999.
The Treaty of the European Union entered into force in November 1993.
On December 15, 1995, the Madrid Summit decided toEuropeThe single currency was named Euro, replacingSeclusion。
1998European Central Bank(European Central Bank) was established.In May of the same year, the Brussels Summit officially scheduled the list of 11 founding countries of the euro.
On January 1, 1999, the euro was officially issued in all EU member states. It is a super currency with independence and legal tender statusNational natureAccording to the Maastricht Treaty, the European Union has officially circulated the euro since January 1, 2002.On January 4 of the same year, the eurointernational financial marketOfficial debut.By 11 EuropeansNational recognitionIt is the official currency.[1]
On January 1, 2002, after three years of transition, the European single currency, the euro, officially entered circulation.In July of the same year, the original currency ceased to circulate.Euro notes and coins officially enter the market asCurrency in circulation。On February 28 of the same year, the national currencies of member countries completely withdrew from the circulation field, and the coexistence period of the euro and the currencies of member countries ended.
2008 financial crisis, 2009European debt crisisAfter many "baptisms", the euro zone has expanded to 19 member countries, covering 340 million people. The share of euros in international payments is about 36%, accounting for all central banksforeign exchange reserve20% in total, becoming the world's second largest currency in circulation and the second largest reserve currency.
Eurosculpture near the Eurotower in Frankfurt, Germany
Since 2018, with the changes in the US EU relations, European politicians have been concerned about improving the eurointernational statusThe voice of promoting European integration with the help of the euro is growing.
In December 2018, the EU issued an action initiative aimed at improving the international status of the euro, and agreed to strengthenEuropean Stability MechanismThe role ofnational budgetIt is also recommended to use the euro more in international energy contracts and transactions.President of the European CommissionJunckerThe statement also said that the euro has become a symbol of unity, sovereignty and stability.
On January 1, 2019, the euro celebrated its 20th birthday.Originally used only for accounting andfinancial transactions OfVirtual currencyUp to now (as of 2019), the euro has been questioned and experienced crisis in the past 20 years as a real currency used by 340 million people in 19 EU countries.[1]
2022 is the 20th anniversary of the circulation of the euro.On January 1, 1999, the euro was launched as the recording and transfer currency;Three years later, euro notes and coins were officially circulated and replaced the currencies of all countries in the euro area.[5]
On June 16, 2022 local time,EurogroupApproved 19 member statesfinance ministerThe proposal to let Croatia officially use the euro.According to the proposal, Croatia will use the euro from January 1, 2023, thus becoming the 20th member of the Eurogroup.[7]
On July 12, 2022, the EU officially approvedCroatiaEuro will be used from 2023.[8]
On July 12, 2022, the exchange rate of the euro against the US dollar fell to 1.As of December 12, the euro was down 0.34% at 1.0005 against the dollar.[9]
From January 1, 2023 local time, Croatia officially launched the euro and joinedSchengen area。[10]
In December 2023, the euro, the global payment currency based on amount statistics, ranked second.[17]
Usage process
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investmentUsage expensesUp to 160 billion yuan, but with greater income
There is a huge project to launch the euro. According to economists' calculations, the cost from issuing the euro to putting it into use alone is as high as 160 billion to 180 billion euros.However, the euro was launched toeuropean unionThe benefits will be immeasurable.
First, the 12 nationeurozoneIs a huge market with unlimited business opportunities. Its annual internal trade volume is up to 1.4 trillion US dollars, accounting for aboutGlobal trade15% of the total.The implementation of a unified currency has not only saved huge amounts of moneytransaction cost And make the best allocation of talents, capital, technology and resources, so as to obtain the maximumeconomic performance。According to preliminary estimates, a single currency would makeTrade volumeIt quickly doubled, or even tripled.
At present, residents of the euro area will soon directly feel the benefits that the euro facilitates consumers to choose goods from 12 countries, and consumers will save an average of 12% of the cost.For example,SpainOfsalmononlyAverage price61% of the grid, andDenmarkBut up to 133% of the average price;cheesestayNetherlandsThan inItaly2 times cheaper;IrelandPotatoes are 3.5 times cheaper than Denmark.
Carl Award
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At the turn of spring and summerAachenThe city attracts worldwide attention.At this time, the ancient imperial capital will award "Carl Prize" to those who have made special contributions to the cause of Europe.The award was founded in 1950 to unify theEbro RiverreachElbe RiverWatershedKarl the GreatIt is named after a person, institution or thing that has made outstanding contributions to European unification.winston churchill Jacques DelorsVaclav Havel , andAdenauerAnd beforeGerman ChancellorCole——All of them have won this famous European award.
In 2002, the "Carl Prize" was awarded to an "idea" for the first time, which is the euro.According to the introduction of the board of directors of the "Carl Prize", the reason why the award was given to the euro in 2002 is that the euro represents the thinking of European integration, strengthens the common sense of Europeans, and has an important political andeconomic significance 。As European Central Bank President Deissenberg said, the meaning of the euro is not just Europeintegration process It will also contribute to maintaining stability, peace and prosperity in Europe.The euro is a symbol of European economic and political integration, and a symbol of European stability and unity.After centuries of war, European countries vowed to unite and defend freedom, democracy and human rights.
The euro has given the EU a foundation for closer joint development. The significance of the euro is not only a monetary unit, but also a symbol of solidarity among European countries.With the entry of 50 billion euro coins and 15 billion euro notesCirculation field, used by 12 euro countries for generationsLocal currencyWill end itsHistorical mission, this great feat seems to be showing“United States of Europe”The arrival of the times.This isWorld War IIBritish Prime MinisterChurchill put forward the concept of "unified Europe".Today, the birth of the euro is the most powerful evidence that 300 million Europeans in the euro area have taken a big step towards the "United States of Europe".
monetary union
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Money has always been about seekingNational interestsIt is a strategic tool to implement monetary power to other countries.becauseeconomic globalizationThe development of,International systemThree fundamental changes have taken place -——Cold WarThe end of, the decentralization of monetary power, andfinancial marketThe development of has created great opportunities for the implementation of monetary power.Therefore, the highest significance of the euro is that Europe is expected to create aStrong currencyAnd a powerfulRegional currencyTo weaken the hegemony of the US dollar and seek the interests of Europeinternational monetary systemHave a far-reaching impact.The 19 countries in the Eurozone have a population of 330 million and a GDP of 13.2 trillion eurosworld tradeMore than 15% of the total (excludingTrade volume）。After the circulation of the euro, it will become aSettlement currencyAnd very attractivereserve currency , which directly challenges the currency dominance of the US dollar.
Euro pairregional economiesIntegration has a good demonstration effect.European integrationOpen the worldEconomic regionalizationIt is the first of its kind.For half a century, encouraged by European integration, regionalization of the world economy has become a common practice and flourishedeuropean union、North American Free Trade AreaandAPECIn addition to the three major groupsASEANAnd "10+3"South AsiaEconomic CommunitySouth Pacific Free Trade Zone, Gulf Economic CommunityEconomic Cooperation Organization（ECO）、CaribbeanEconomic Community, South American Economic Community, Northwest African Economic Community, Central African Economic Community, South African Economic Community and other dozens of regional economic groups.The start and use of the euro isRegional integrationIt provides a new way of thinking, which makes the existing regional economic integration approach a big step forward.along withmonetary union And economic integration will inevitably require political unity“European Union”Now it has become a hot topic in the EU.This transcendence of national boundaries andnational economyThe new combination of borders is undoubtedly very attractive to countries and groups, thus encouraging more countries andGroup selectionThe road of "monetary union".In the long run, the birth of the euroInternational economic integrationA new blueprint has been drawn.
Euro banknotes
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First series Euro
face value
positive
back
Date of issue
Printing deadline
EUR 5
2002/01/01
2013/05/01
10 EUR
2014/09/22
20 EUR
2015/11/24
50 EUR
2017/04/03
100 EUR
2019/05/27
200 EUR
2019/05/27
500 EUR
2019/01/27
Second Series Europa Euro
face value
positive
back
Date of issue
EUR 5
2013/05/02
10 EUR
2014/09/23
20 EUR
2015/11/25
50 EUR
2017/04/04
100 EUR
2019/05/28
200 EUR
2019/05/28
EuropeMonetary BureauThere are 7 euro draft samples released, with the face values of 5 euros (gray), 10 euros (red), 20 euros (blue), 50 euros (orange), 100 euros (green), 200 euros (yellow) and 500 euros (purple) respectively.The ticket is composed of three basic building elements: windows, gates and bridges, which respectively represent the spirit of openness, cooperation and communication between the EU.
Since the creation of the new Euro, there have been seven denominations of notes, namely € 5, € 10, € 20, € 50, € 100, € 200 and € 500.The first set of euro notes was issued from January 1, 2002 to May 1, 2013, and subsequently was issued on May 2, 2013Europa sequencePaper money.Unlike coins, the design of paper currency is the same throughout the euro area.In order to make paper money more durable and make it easier for people to identify by touching, the paper used to print paper money is made of pure cotton fiber.The minimum size of euro notes is 120 mm × 62 mm, and the maximum size is 160 mm × 82 mm;Different banknotes use different theme colors to distinguish them.
On January 13, 2014, the European Central Bank released a new version of the 10 euro note sample, which was listed and circulated on September 23, 2014.
Printed on the new version of 10 eurosMythological figureEuropaAs a security mark.This portrait is taken from the portrait on an antique vase with a history of more than 2000 years in southern Italy.In addition to the portrait of Europa, the new note has otherAnti counterfeiting mark。Printed on the front of the noteFace value figureWhen viewed from the side, the color will change fromEmeraldIt turns dark blue, with raised corrugations on the edge of the note, printed with special materials, slightly thicker than other parts.In fact, one of the purposes of the European Central Bank's introduction of the new 10 euro note after the new 5 euro note was issued in 2013 is to improve the service life of the note and facilitate people's access to ATMsvending machineWithdraw money or make payment on the bank to avoid the situation that money cannot be recognized by old machines.
All euro notes bear the signature of the President of the European Central Bank.Therefore, when a new ECB president takes office, the signature on the euro notes will also change.So far (up to 2019), the euro notes have been signed by three different presidents.To preventCounterfeit moneyThe EU plans to introduce a new set of banknotes every seven or eight years.The second set of banknotes was originally planned to be launched in 2010, but was later postponed to May 2, 2013.It is expected that the new set of banknotes will gradually replace the old ones in the coming years.
The first set of euro notes, with the theme of "architectural styles in various European periods", representsEuropean ArchitectureTwo thousand years of evolution.The front porch or window of the note, which is drawn with simple lines, symbolizes the core spirit of "openness and cooperation" of the EU;The bridge on the back of the note symbolizes "exchanges between the European people and people in other parts of the world".In addition, the 12 stars on the note also represent "the vitality and harmony of contemporary Europe".
According to theThe principle of equality, on euro notesDesign ElementsA building that does not represent any entity.This relatively neutral choice maximizes theCommon valuesAnd effectively avoided disputes caused by the design of paper currency in euro zone countries.
All banknotes are printed with the EU flag, covering the initials of the abbreviation "European Central Bank" (BCEECB、EZB、ΕΚΤ、EKP）、European map, "Euro" text（Latin：EURO；Greek(e) and the signature of the President of the European Central Bank.
The final scheme of this set of banknotes was selected from 44 works in a competition held by the European Central Bank on February 12, 1996DublinHeldEuropean Council AnnounceAustrian National Bank Robert Karina's design won.Although Robert Kalina initially used the existing bridges in Europe as his design elements, the drawings of all bridges and doors and windows on the euro notes are based on the architectural styles of different periods in their history. The different architectural styles shown by different notes are detailed in the table below.A map of Europe is drawn on the back of the euro notes.Because some European countriesoverseas possessions(e.gFrench Guyana）The euro is also used, so the maps of these overseas territories are also drawn separately and placed inContinental EuropeThe lower left corner of the map.2004european unionAfter expansion,CyprusandMaltaThey began to use the euro, but because of the map layout, their territory was not drawn in this set of euro notes.
autograph
The euro notes bear the signature of the President of the European Central Bank on the front.In 2002, the first presidentWim Duisenberg 's signature appears on the note and is subsequentlyJean Claude TrichetIs replaced by the signature of.Current President printed in March 2012Mario Draghi Signed banknotes began to be issued.
Safety measures
Euro notes include many complexSafety measures, such as watermarkinfra-redAnd UV inkHologram, microprinting, etc. to ensure the authenticity of paper money.In order to let the public identify the authenticity of paper money, the European Central Bank has disclosed some security measures.However, the complete security measures for euro notes are strictly kept confidential by central banks in the euro system.Generally speaking, there are four ways to distinguish the authenticity of euro notes.The first three identification methods are "touch, observation, tilt" (French: touch,regarder, incliner），So that ordinary people can easily identify the authenticity of paper money.
Touch:
Paper - the paper is treated with special materials to make it tough and brittle;
gravure——NotesMain patterns and representatives onface valueThe large numbers of and the abbreviations representing the European Central Bank are printed in intaglio to make them feel concave and convex;
Observation:
Watermark - the paper currency is watermarked, and the pattern includesNotesThe face value of and the windows of European buildings in different periods become clear when viewed against the light;
Safety line - when looking into the light, a magnetic black line can be found in the middle of the note, with transparent words "Euro" and corresponding face value printed in the middle of the black line;
Complementary antithesis——When looking at the light, we can see that the incomplete numbers in the upper left corner of the front and the upper right corner of the back of the note are combined into one, which represents the face value of the note;
Tilt:
Hologram——On the right side of the front of the 5, 10 and 20 euro notes, there is a holographic tape, which can be repeatedly tilted up and down to see the face value of the note, the EU flag, the euro symbol and the word "euro";On the right side of the front of the 50 to 500 euro notes, there is a hologram label printed with the face value of the note, the word "Euro" in miniature and the main design on the front of the note;
Rainbow band - there is a rainbow band printed with the face value and euro symbol on the back of the 5 euro, 10 euro and 20 euro notes;
Optical color changing ink——At the lower right corner of the back of the 50 euro to 500 euro banknotes, the face value figures printed with light variable ink can be seen by repeatedly tilting up and down.
Other measures:
Infrared and ultraviolet characteristics - under the infrared instrument, part of the paper money will disappear;Under ultraviolet light, the paper money pattern will have fluorescence effect;
Micro characters - carefully observe the banknotes, and you can see the characters that can be recognized by the naked eye. These characters are thin and clear, and it is difficult to forge them through general printing;
Anti copy circle——Irregularly arranged circles on the paper currency. Some photocopiers can identify the paper currency through these circles, and then refuse to copy it;
Digital watermark - embedding information into the pattern through mathematical encryption algorithm, so that some image processing software (such asAdobe Photoshop）Identify and refuse to deal with it;
Magnetic ink——The specific area of the paper currency is printed with magnetic ink (such as the serial number of the paper currency) for the detection of special instruments;
bar code——When the note is viewed against the light, it can be found that there is a bar code watermark in the middle left of the note, and the bar codes displayed by different denominations are different.
Although the signature of the president of the European Central Bank will vary with the time of issuance, it is not part of the euro anti-counterfeiting measures.
Coin pattern
All euro coins have the same obverse, marked with the face value of the coin, called "common side", while the reverse of the coin is composed ofCountry of issueSelf designed (national side).Constitutional monarchyCountries often use the head of their monarch, and other countries usually use the symbol of their country.All different coins are available in alleurozoneUse, such as castKing of SpainThe coins of the head portrait are also used in other countries that use the euro except SpainLegal tender。Euro coinsThere are eight denominations.Although 1 euro cent and 2 euro cent coins are not generally used in Finland and the Netherlands, they are still legal tender.
The design of euro notes of each denomination is the same in all countries.There are seven denominations of euro notes.Although large denomination notes are not issued in some countries, they are still legal tender.Pan European Automated Real Time Clearing System(English: Transfer European Automated Real Time Gross Settlement Express Transfer System (TARGET for short) is a European system established before the issuance of the euroLarge amount transactionClearing system。aboutSmall amount paymentOfgeneral ruleYes: OneurozoneTransfers within the euro zone are regarded as domestic transfers. The fees for credit card payments and ATM withdrawals within the euro zone are the same as domestic fees. Bill payments, such as cheques, are also the same as domestic fees.
The design of the euro was finally determined on December 13, 1996 by the European Monetary Agency, which publicly solicited the design.AustriaThe scheme of the banknote designer Robert Karina was adopted.According to the Kalina scheme,Nominal valueThe larger, the larger the paper currency area.The main components of the positive patterns of various banknotes are doors and windows, which symbolize the spirit of cooperation and openness.12 stars form a circle, symbolizingeuropean unionCountries live harmoniously in Europe.The reverse of the note is a bridge pattern, symbolizing the close ties between European countries.The patterns of doors, windows and bridges represent the architectural styles of different periods in Europe, and the currency values from small to large are classicism, romanticism, GothicRenaissance style, Baroque andrococo, iron and glassmodernThe architectural style is gray, red, blue, orange, green, tawny and lavender.The euro notes printed by countries in the region have the same design on the front and back, and there is nothing on the notesNational logo。
Coins are made byeurozoneAll coins are minted in various countries. The front of all coins is engraved with the symbol of the European Economic and Monetary Union, and the reverse is the design of various countries.
For euro notesTissue paperIt is made with a special feel, some of which will be uneven, and has an anti-counterfeit line. The face value on the top of the note is usedColor changing inkPrinting.
Euro notes (as shown in the figure) are divided into 7 denominations of 5, 10, 20, 50, 100, 200 and 500 euros, with different sizes and colors.The notes of each denomination show a period of European architecture, a map of Europe and a European flag.For these seven kinds of banknotes, without exception, the design of doors and windows on the front and bridges on the back is adopted, which shows different architectural styles in different periods of Europe and represents European culture and history in seven different periods.The arches and windows symbolize the spirit of openness and cooperation,European UnionThe 12 stars represent the driving force and the unity of European countries.The bridge shaped building on the back of the note represents the cooperation and communication between European countries and between Europe and the world.The amount of money is printed on the note, which is marked with Latin and Greek letters respectively.European Central BankFor the acronym ofeuropean unionNationalofficial languageFive kinds oflanguage varietyLogo.The banknotes are printed with the flag and territory of the European Union, and the abbreviation of the European Central Bank and the signature of the President of the Central Bank are expressed in five official languages of the European Union, including BCE, ECB, EZB, EKT and EKP.
Euro coins
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Pattern of 2 Euro Coins in Each Country
country
positive
back
Austria
Belgium
Cyprus
Netherlands
Estonia
Finland
France
Germany
Greece
Ireland
Italy
Latvia
Lithuania
Luxembourg
Malta
Monaco
Portugal
San Marino
Slovakia
Slovenia
Spain
Vatican
Coins have 8 denominations: 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, 50 cents, 1 yuan, 2 yuan.eurozoneThe coins of 16 countries have the same design on one side and different designs on the other
Among them, 1, 2 and 5 cents have been minted since 2002 without modificationCopper plated steelCast 94.35% steel, 5.65% copper, the front shows Europe for the earth,Middle East，Africaone side
The other five types of frontal patterns are divided into the 2002 version and the 2007 version, and the European map in the pattern is different.
Euro Coin Information Table
face value
Diameter mm
Thickness mm
Mass g
features
texture of material
Design
particular year
edge
1 euro minute
sixteen point two five
one point six seven
two point three zero
Smooth edges
Copper plated steel core
Europe, Africa and the Middle East in the Earth
two thousand and two
2 euro points
eighteen point seven five
one point six seven
three point zero six
There is a groove on the edge
5 euro points
twenty-one point two five
one point six seven
three point nine two
Smooth edges
10 euro points
nineteen point seven five
one point nine three
four point one zero
Fine grain scale on the edge
Nordic gold
Europe on the left
two thousand and seven
20 euro points
twenty-two point two five
two point one four
five point seven four
Seven notches on the edge
50 euro points
twenty-four point two five
two point three eight
seven point eight zero
Edge fine grain scale
1 Euro
twenty-three point two five
two point three three
7.50 (core 3.71)
Three groups of fine edges, three groups of smooth blanks
Outer ring brass nickel plated inner ring white copper
Europe on the right
EUR 2
twenty-five point seven five
two point two zero
8.50 (core 4.10)
The lettering on the edge detail varies from country to country
Nickel plating on brass of outer ring and inner ring
Germany: 1,2,5 points - German oak branches also used on Fenny, Germany, 10,20,50 points - Brandenburg Gate, representing division and unity, 1,2 yuan - representing German sovereigntyGermanicEagle logo
France: 1,2,5 points-Marianahead portrait,FrenchRepublic logo, 10,20,50 points - sower, frontfrancThe theme used, 1,2 yuan - a stylizedhexagonThe tree inside is engraved with mottosLiberté Egalité Fraternité(Freedom, equality, fraternity)
Greece: 1 point - Athenian triple row battleship in the 5th century BC, 2 points - early 19th centuryfrigate, 5 points - Hyundaitanker, the symbol of Greek business, 10 points - Rigas Ferreos, Greek writer and revolutionist, 20 points - Jan Capoditchas, the first Prime Minister of Greece, 50 points-Elefcelios Venizelos, Greek statesman, 1 yuan - Athens in the 5th century BC 4drachmaCoin pattern, owl, 2 yuan - Zeus abducts Europa in the image of a bull
Slovenia: 1 cent - The stork used to spend 2 cents on the 20 Slovenian dollar coin - 5 cents for Prince Stone - 10 cents for Ivan Grohar's famous painting stars-Slovenian Parliament20 points-Lipizama50 points - Trigraf Mountain, the highest mountain in Slovenia 1 yuan - Primo Trubar, a Protestant reformer in Slovenia 2 yuan - Franze Plescheren
Estonia: A single design of all 8 coins, featuring a map of Estonia and surrounded by 12 stars.
vatican: Head of the current Pope, currently the 266th PopeFrancis 。
Symbol
Euro symbolThe official structural form of, specifying the international three letter code of the euro that should be printed in yellow on a blue background（ISO 4217Standard) is EUR.Its symbol is a specially designed euro symbol.The winner is selected by a group of four experts.European CommissionDeclare that this symbol is "representative of European civilizationGreek alphabetepsilonΕ，The combination of E representing Europe and the horizontal parallel line representing the stability of the euro ".But before one EECArt DesignThe editor in chief claimed that he created this symbol as a representative symbol of Europe.
The European Commission initially stipulated that the euro symbol has a certain structural proportion, which does not change according to the font.This provision means that the euro symbol will be used as a symbol, not like letters ordollar、poundOthersCurrency symbolAs a designable symbol.However, strictly maintaining its size will cause the euro symbol to be wider than other symbols and numbers in most fonts, and sometimes lead to some layout problems.As a result, most font designers ignore the provisions of the European Commission and design their own variants of euro characters in various fonts, usually based on thecapitalC。The picture above is the official euro symbol.
Entering the euro symbol on a computer depends on the operating system and language usedLocale。someEurope and AmericaThe mobile phone company ofSMSservice system Specific tocharacter setThe software has made a transitional upgrade versionRMBorJapanese yenThe symbol ￥ is replaced by the euro symbol. The latest phone already contains both symbols.
International three letter code of euro（ISO 4217Standard) isEUR。Its symbol is the specially designed euro symbol (€), which is divided from tendesign schemeTwo of them will be selected and finally submittedEuropean CommissionSelect the final design.The winner was designed by a team of four experts.
Euro symbol inUnicodecharacter setThe name in is EURO SIGN, and the code is U+20AC（decimal system8364）。The upgraded version of the traditional Latin character set has the same encoding.Shortly after the introduction of the euro symbol, the HTML 4.0 version introduced the euro symbol, but some browsers could not parse this code correctly.
Entering the euro symbol on the computer depends on the operating system and language and regional settings.Some mobile phone companies in Europe and the United States have made a transitional upgrade version of the specific character set software of the SMS service systemJapanese yenThe symbol ￥ is replaced by the euro symbol. The latest phone already contains both symbols.
Oufen doesn'tOfficial recommendationThe amount is usually expressed as a decimal of Euro (such as € 0.05 instead of 5 ￠ or 5c).a lowercase letterlettercIt is also commonly used fromDutch guildersSecondary ofMonetary unitCent.stayIrelandUsually, it is indicated by a lowercase c (such as on a stamp), but the penny symbol ￠ is sometimes used in shops.Greece is widely represented by the capital letter lambda (Λ), the abbreviation of its original monetary unit Lepton (Λε πτ≤), and this unit is also used in theEuro coinsSelf designed surface.Germany usually uses the abbreviation "ct" for "cent".Finland generally uses decimal form, such as -. 82 €, but sometimes you can seeFinnishThe abbreviation of "sentti" is "snt", such as 50 snt.
There are also differences in the position of the euro symbol in currency representation.Although it is officially recommended to put it before the number, people in many countries still retain the habit of the original currency.People in Spain and France are hard to change into this kind of people. They think it is a little bitIllogicalIn the form of (currency symbol is in the front when writing: e.g. € 2; but in the back when reading: deux/dos euros "2 euros").So in France € 3.50 is usually written as 3 € 50, which comes fromfrancThe customary writing style (such as 22F96).
Euro notes are made byAustriaDesigned by Robert Kalina of the Central Bank, the theme is "European era and style", which describes the seven periods in Europe's long cultural historyarchitectural style。It also includes a series of anti-counterfeiting features and representative features of member states.
In the front design of the paper money, the windows and arches symbolize the openness and cooperation of Europe.representativeeuropean unionThe 12 five stars of the 12 member countries symbolize the vitality and harmony of contemporary Europe.The pattern on the back of the note depicts seven European bridges and maps of different times, implying close cooperation and exchanges between EU countries and the whole world.
Seven different types of banknotes adopt different colors as the main colors, and the specifications also increase with the increase of the face value.In addition, the euro notes have the following main characteristics:
（1） Watermark: Euro notes all adopt double watermarks, that is, they are identical with each denominationMain sceneDoors and windows with the same patternPattern watermarkAnd denomination figuresWhite watermark。
(II)Safety line: The euro notes adopt a fully buried black safety line, which contains the euro name (EURO) and denomination number.
(III)CounterprintPattern: The irregular figures on the upper left corner of the front and back of the euro notes are just complementary to the denomination figures, and the docking is accurate without dislocation.
(V)Pearlescent inkPrint pattern: a strip is printed with pearlescent ink in the middle of the back for 5, 10 and 20 euros, and different colors can be seen from different anglesEuro symbolAnd denomination figures.
（6） Holographic logo: Holographic film strips are pasted on the right side of the front of 5, 10 and 20 euros, and bright euro symbols and denomination figures can be seen by changing the angle of observation;50, 100, 200, 500 euros front rightLower cornerHolographic film block is pasted, and the bright main scene pattern and face number can be seen by changing the angle of observation.
（7） Light variable denomination number: 50, 100, 200, 500 euros The denomination number in the lower right corner on the back isPhotorefractive inkWhen printed, the banknote is tilted at a certain angle, and the color changes from purple to olive green.
（8） Colorless fluorescent fiber:ultravioletBelow, we can see that there are bright red, blue and green colorless fluorescent fibers in the Euro paper.
（9） Colored fluorescent printing pattern: under ultraviolet light,european unionFlags andEuropean Central BankThe blue ink signed by the president turns green;12 stars changed from yellow to orange;The map and bridge on the back turn yellow.
(X)Gravure printingMicrotext: The front and back of the euro notes are printed with micro textmagnifierIt was observed that the lines of the micro characters on the real coins were full and clear.
recognition methods
Just like the identification of RMB, the identification of euro notes also requires the method of "one look, two touch, three listening and four testing".
（1） The first one is the light facing perspective: mainly observe the watermark, safety line and counter printing pattern.The second is shaking observation: mainly observe the holographic logo, the pearlescent ink printing strip mark on the back of 5, 10, 20 euros, and the number of light variable ink on the lower right corner of the back of 50, 100, 200, 500 euros.
（2） The first is to touch the paper: the euro notes are thinStiffnessGood. It is not slippery and dense to the touch. You can feel the thickness changes at the watermark part.The second is to touch the intaglio printing pattern: the denomination number on the front of the euro note, the door and window pattern, the abbreviation of the European Central Bank, and thebrailleAll marks are made byIntaglio printing Yes, it has obvious concave and convex feeling.
（3） When you listen to the hand shaking of paper money, real money will make a crisp sound.
The front and back of euro notes are printed with micro text. When viewed under a magnifying glass, the micro text lines on the real currency are full and clear.
exchange rate
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Exchange with USD
At the beginning of the introduction of the euro, the euro against various currencies (especiallydollar）Both fell sharply.When the euro was introduced in 1999, it was 1.18 dollars per euro;On October 26, 2000, the euro fell to a historical low of US $0.8228.But then the euro began to experience a period of recovery.At the beginning of 2001, the euro rose to nearly US $0.96.But then it entered into a period of decline, although this timeDeclineSmaller, the lowest drop was 0.834 US dollars on July 6, 2001.currencyStart to restore the check and balance of the US dollar.Due to the influence of corporate scandals in the United States, the two currencies were close to 1:1 on July 15, 2002. By the end of 2002, the euro had reached $1.04, and then continued to rise.
On May 23, 2003, the euro exceeded its height of $1.18 on the day of its debut for the first time, and broke through $1.35 on December 24, 2004 (0.74 euros=1 dollar).On December 30, 2004, it set a record of $1.3668.Some analysts predict that the euro will remain strong against the dollar.On August 13, 2007, the euro reached $1.37.On November 23, 2007, the euro reached $1.49.On April 22 and July 15, 2008, the euro reached a record high of $1.60 twice.In the experiencefinancial crisisLater, the euro entered a period of strong shocks.
The euro is the official currency of 16 countries and regions outside the EU.Moreover, the currencies of 22 countries and regions are directly linked to the euro, including 14 West African countries and three French countriesPacific region, twoAfricaIsland countries and three countries on the Borgan Peninsula.
Driving force of exchange
From 2001 to 2004, one of the forces was that European interest rates were more attractive than those in the United States.Federal Reserve SystemIn recent years, it has maintained relatively highEuropean Central BankThe lower interest rate, except for several larger economies in Europe, especially Germany, grew very slowly or even did not grow.This phenomenon is attributed to the responsibility of the European Central Bank to coordinate the overall inflation rate of the euro area;Some countries with excellent performance, such asIrelandHas exceeded the ECB's goal.
However, although the difference in interest rates has become one of the reasons for the growth of the euro, the main reason is that the United Statescurrent accountThere are huge and unstableDeficit。The market generally pays attention to the double deficit problem in the United States.This issue has left the US dollar vulnerable.U.S.AdeficitUp to US $427 billion, accounting forgross domestic product3.7% of GDP. The current account, which includes capital flows, is the most commonly used trade indicator. Its deficit reached US $166.18 billion in the second quarter of 2004.
One of the main factors is thatAsiaThe exchange rate of the currency against the US dollar is not the same as that against the euro.ChinaRMBIt was not long ago that the yen was decoupled from the US dollarBank of JapanTo intervene and be held.These pressures have softened the dollar and strengthened the euro.
After the euro was introduced as a cash currency, it rebounded from the bottom.From 1999 to 2002, Eurosceptics believed that the weakness of the euro was a precursor to the failure of the euro experiment.The weak performance of the euro during this period may be due to the fact that the currency has not yet been "formally formed".Since the issuance of euro notes and coins had not yet started, the plan still had a chance to fail.However, when the euro is circulated in cash, the market's confidence in the euro increases, and more and more people believe that the euro will continue to circulate, which makes the value of the euro rise.During the period from 1999 to 2002, this factor had a great impact on the process of strengthening the euro from weakness, but after this period, other factors became more important.
Another reason for the early decline of the euro is that the original purpose of holding multiple currencies is to avoid a single currencyexchange rateThe risk of decline, so whenfixed rateOnce identified, many investors andcentral bankWill sell a lot of their holdingsLocal currency。When the exchange rate between the currencies of the euro area countries is fixed, for example, GermanymarkandfrancIt has the same meaning.In addition, there is reason to believe that a large amount of black money has been converted into dollars to avoid public exchange of euros.
result
Although the euro and other major or minorappreciation, USAtrade deficitStill growing.economic theorythinkDepreciation of the dollar(That is, becoming cheaper) and the appreciation of the euro (that is, becoming more expensive) will help US exports and reduce US import activity.However, to some extent, it depends on the,Cost of moneyThe mode of transfer.In addition, the devaluation of the dollar makes foreign countries in the United StatesInvestment amountGrowth (although accompanied by lower returns), so the continued growth of foreign investment will consolidate the position of the US dollar to some extent.Moreover, the depreciation of the US dollar makes foreign countries in the United StatesInvestment costLower (although benefits have also decreased).Therefore, the increasing foreign investment will consolidate the position of the US dollar.US dollar as a globalreserve currency The role ofbudget deficitHowever, the normal operation of these two functions still depends on continued foreign support.
It is predicted that the strength of the euro against the dollar may encourage countries to use the euro as an alternativereserve currency 。Saddam Hussein EpochalIraqIn 2000, the reserve currency of the country was changed from the US dollar to the euro.Some countries with large reserve currencies (such as India and China) have alsoforeign exchange reserveConverting dollars into euros, or evenOPECThey also changed their trade currency from the US dollar to the euro.These will strengthen the depreciation trend of the US dollar in the long run.In 2004,Bank for International SettlementsAccording to the report of, the euro deposit rate of banks has increased from 12% in 2001 to 20%, and will continue to rise.The depreciation of the US dollar will also make Americans gain more from investing in foreign stocks, which further depresses the US dollar.
The appreciation of the euro will restrain the export of the euro area, but there is still little sign of this situation.The main reason is that the currencies of the major global consumer countries in the euro area also appreciate against the US dollar.As the current account deficit continues to rise, and the United States does not plan to take austerity measures to reduce imports and increase exports.This situation will probably cause the US dollar to lose its role as the worldSettlement currencyThe status of theA basket of currenciesreplace.
Exchange between Euro and RMB
As of January 15, 2013, 1 euro can be exchanged for 8.2903 yuan, up 6% from June 2012.industry insidersIntroduction: Due to the impact of the European debt problem, the euro area has always been volatile, but many countriesbusiness climate index Better than expected, it pushed the euro up continuously for a time, and made the euro get rid of the downward channel since May 2008. The resolution of the European Central Bank was undoubtedly the biggest focus of the market, and the result did not disappoint the market, leading to a strong counter attack on the euroBreak positionRising, many investment banks and other market investors have turned their backs and sharply bullish on the future of the euro.Good Spain andItalyThe results of standard bonds also laid a favorable atmosphere for the trend of the euro.Bank wealth managers believe thatbenchmark interest rateIs close to zero, andeconomic growth rateIs negative, so the euro zone'sFundamental planeThe environment is still weak, and Euro is expectedExchange rateIt will remain within the fluctuation range, and there is still the possibility of further rise in the future.If citizens are in urgent need of euros, it is recommended to buy more;If the euro will be used later, you can temporarily hold the currency to invest in other value-added channels, and move when the euro fluctuates again.
September 29, 2014People's Bank of Chinato grant authorization,China Foreign Exchange Trading CenterAnnounced oninterbank foreign exchange martCarry out direct transactions between RMB and Euro.Direct transactions between RMB and Euro are conducive to the formation of the direct exchange rate between RMB and Euro, reducingEconomic entityExchange costs to promote the exchange between RMB and Eurobilateral tradeUsed in investment.The People's Bank of China actively supports this.
The European Central Bank announced the openingQuantitative easing Policy, stimulated by the news, the euro exchange rate fell.China Foreign Exchange Trading Centerdata displayOn January 23, 2015, the inter-bank foreign exchange marketCentral parity rate of RMB exchange rateIs 1 euro to RMB 6.9795 yuan, compared with the previous oneTrading day1409 basis points lower than "7"Integer gateway, again hitting a new low since the reform of foreign exchange.
Since May 2014, the euro has been in the downward channel against the RMB, and the market expects that the euro will continue to decline in the future.The reporter combed and found thatRMB middle rateFor example, after climbing to a recent high of 8.5756 yuan on May 7, 2013, the euro continued to decline all the way down to 6.9795 yuan as of May 2014, which means a decline of nearly 19% in more than eight months.[2]
In November 2023, global enterprises and banks are raising a record amount of RMB, which will push the RMB to surpass the euro and become the world's second largest trade financing currency.In September 2023, the data released by the International Fund Clearing System (SWIFT) shows that the RMB has achieved a record increase in its share of global payments, rising from 3.9% at the beginning of the year to 5.8%, surpassing the share of the euro for the first time.Since November, the offshore RMB exchange rate has soared nearly 2000 basis points.On the 22nd, both onshore and offshore RMB rose to around 7.13, a new high in nearly four months.[16]
Euro depreciation
The European QE will further devalue the euro, which willChina's economyWhat are the impacts.China Economic NetworkcommentatorLin YunSaid: "The devaluation of the euro has become an irreversible reality, because just after the news of the launch of QE by the European Central Bank, the euro showed a trend of breaking new lows, falling below the key point of 1 euro to US $1.15, which I believe will be a trend of weakening.""The impact on China is nothing more than trade and investment. The devaluation of the euro will certainly help some enterprises in the euro area to export to China. From the perspective of investment, the devaluation of the euro will make the yuan and the dollar more valuable, so it will become cheaper to buy assets. But be careful what you buy, and investors should see clearly."[3]
Due to the different rounding habits of the euro currency in different countries, the conversion between the currencies of various countries must be carried out through the euro.Fixation of Euro and original currencyConversion ratioAs follows:
These conversion ratios are determined byEuropean parliamentaccording toEuropean CommissionAccording to the proposal of December 31, 1998Market exchange rateDetermined on the basis of, 1European monetary unitIt is equal to 1 euro.Because the value of the European Monetary Unit depends on non euro currencies (mainlypound）The day ofClosing price, so the exchange rate was not determined earlier.
GreeceAt the beginning, it did not meet the standard of using the euro, so it did not join on January 1, 1999eurozone。Two years later, on January 1, 2001, Greece joined the euro area, and its currency conversion ratio was 340.750 Greek drachma (GRD) to 1 euro.
Of original notes and coinsConversion periodIt lasts for two months until February 28, 2002.The official date of stopping using the original currency as the legal tender varies from country to country. The earliest is Germany. The German mark was no longer the legal tender of Germany on December 31, 2001, but it can be converted into euros before February 28, 2002.By February 28, 2002, all countries had stopped using their original currencies as legal tender.However, after this date, the central banks of various countries will still accept the original currency for several years,Austria、IrelandCentral Bank of SpainPermanentAccepts the original currency.The earliest coins that were not used werePortugalEscudo, which ceased to haveMonetary valueThe paper currency will remain convertible until 2022.
FinlandIt was decided not to cast 1 euro cent and 2 euro cent coins except for a small amount for collectors. Therefore, when Finland exchanges euros, those ending in 1 euro cent or 2 euro cents will be rounded off, and those ending in 3 euro cents or 4 euro cents will be rounded up to 5 euro cents.But 1 euro and 2 euro are still in FinlandLegal tender。
SloveniaEuro was adopted on January 1, 2007.Its conversion ratio is 239.640 Slovenian Tolar (SIT) to 1 euro.
SlovakiaEuro was adopted on January 1, 2009.Its conversion ratio is 30.1260Slovak Krone（SKK）
EstoniaEuro was adopted on January 1, 2011.Its conversion ratio is: 15.6466Estonian Krone（EEK）
LatviaEuro was adopted on January 1, 2014.Its exchange rate is 0.70204 Latvian Latvian Latte (LVL)
LithuaniaOn January 1, 2015, it became the 19th member of the euro area, which coincided with the 15th anniversary of the birth of the euro.
Circulation area
according toeuropean unionProvisions of, Euroforeign cashIt was officially circulated on January 1, 2002,eurozoneThe original currencies of all member states of the Group will cease to circulate as of March 1, 2002.Now more than half of the 27 EU member states have joined the euro area,poland、Czech Republic、DenmarkFor reasons such as considering their own interests, other countries have not yet entered the euro area.
Sweden held a referendum in 2003. According to the result of the referendum, it refused to let the euro becomeSwedenThe currency of.
GreeceJoined the Eurozone in 2000, becoming the 12th member of the Eurozone.
SloveniaJoined on January 1, 2007eurozone, becoming the 13th member of the Eurozone.
CyprusBetween January 1, 2008 andMaltaJoined the Eurozone together, becoming the 14th and 15th member states.
SlovakiaJoined the euro zone on January 1, 2009, increasing the number of euro zone members to 16.
EstoniaThe euro was officially launched on January 1, 2011, becoming the 17th member of the Eurozone.
LatviaIt officially joined the euro area on January 1, 2014, becoming the 18th member of the euro area.
LithuaniaIt officially joined the euro area on January 1, 2015, becoming the 19th member of the euro area.
CroatiaJoining the euro zone on January 1, 2023, residentsbank accountOnKunaIt is automatically converted into euros at the exchange rate of 1:7.5345 between euros and Kuna.[11]
Previously used in MonacoFrench Franc、San MarinoAnd the Vatican used to use the Italian lira, and the two have been replaced by the euro.According to them andeuropean unionThey can also forge agreements on behalf of the European UnionEuro coins。
AndorraPreviously, French francs and Spanish pesetas were used,Montenegro 、Kosovo Previously, the German mark was used. After the above currencies were replaced by the eurocountries and regions The euro was used as the actual currency, but there was no legal agreement between them and the EU, and they did not participateEuropean Central Banking System。In October 2004, Andorra began to negotiate with the European Union on an agreement allowing Andorra to coin euro coins like Monaco, San Marino and the Vatican.
In December 2002, the DPRK used the euro instead of the US dollar as the main currency for external circulation and settlementblack marketThe dollar has also been replaced by the euro, compared with the stores that used to use dollars.
In general, the euro is the official currency of 23 countries and regions, and the exchange rates of 28 countries and regions are linked to the euro.
Exchange market black horse
The euro has become the absolute dark horse in the foreign exchange market in 2013IncreaseIt has exceeded 4% and is the currency with the highest growth rate.
On January 1, 2014,Prime Minister of LatviaEast BrofskisstayRigaAn ATM in the center of the city takes out Latvia's first euro note.On the same day, Latvia officially became the 18th member of the Eurozone.
(1) Strengthen own economic strength and improve competitiveness
futureeurozonestaygross domestic productandTotal foreign tradeBoth will be higher than that of the United States andJapan。After the launch of the euro, the joint promotion of the unified currency and the unified market will undoubtedly bring about new economic growth, making the EU in a favorable position in the competition with economic powers such as the United States and Japan.
Increasing economic competitionglobalizationIn the general trend of regionalization and collectivization, the unified currency is one of the most powerful weapons.The EU is the most integrated in the world todayregional group, but yesdomestic marketThe shock of turbulence still lacks resilience.1995Mexican PesoBoth the crisis and the yen crisis in 1996 once led to the decline of EU economic growth, export decline and employment reduction.It turns out that the EUfloating rateMultinational currencies that act independently under the mechanismMonetary ValueThe "soft" and "hard" are different. The differences in interest rates, changes in exchange rates and other factors have triggered internal EUfinancial orderThe chaos of.After the official use of the euro as a single currency, the above problems will naturally be greatly alleviated.
Londonmorgan stanley Economist Firth pointed out that the planning tools of EMUpersistenceThe advantages of this system have been reflected in the Asian financial crisis. In the past, the European region could not survive such storms.
The use of the euro not only simplifies procedures, saves time, speeds up the flow of goods and funds, but also reduces the exchange and commission losses of nearly 30 billion dollars, making EU enterprises virtually reduce costs and enhance their competitiveness.With the rise of the euro andEuropean Capital MarketsThe development ofCost of capitalIt will also decline, which is conducive to investment and economic growth.
Although unified within the EUBig marketIt has been established, but because of the existence of multiple currencies, the same resources, goods and services show different prices in different countries.If this phenomenon persists for a long time, it will distort theindustrial structureandinvestment structureIs not conducive to the rational development of the large market.If a single currency is implementedEuropean Central BankDevelop and implement unifiedmonetary policyThe prices, interest rates and investment interests of various countries will gradually narrow the differences or become consistent, forming a price andInterest rate levelThe overall decline, the expansion of residents' social consumption, enterprisesinvestment environmentImprovement, ultimately beneficialeuropean unionThe sound development of the overall economy.
Relationship with oil
Euro pairoil priceWill have a significant impact.eurozoneMore oil is imported for consumption than that of the United States, which means that the euro will flow into those who do not price oil only in dollarsOPECcountry.OPECIt is also often discussed to price oil in euros, which requires oil importing countries to reserve euros instead of dollars used for oil imports.althoughVenezuelaMost of its oil is exported to the United States, butPresident of Venezuela Chavez(Hugo Ch á vez) has declared support for this plan.Another person who supported this plan was the deceasedIraqex-presidentSaddam Hussein Iraq has the second largest oil reserves in the world.Since 2000, Iraq has used euros when exporting oil. In 2002, Iraq converted its dollar reserves into euros. A few months later, the United States decided to wage war against Iraq and then invade its territory.
If OPEC implements this plan, the euro area will receive the "subsidy" originally obtained by the United States.In EuropriceAnother important impact of oil is that the changes in oil prices in the euro area will closely follow the world oil prices.When September 2004Crude oil priceWhen it soared to $50 a barrelExchange rate riseThe oil price in the euro has not increased much.Similarly, when the oil price and the euro exchange rate decline together, the oil price in the euro will not decline significantly.On the other hand, if the oil price changes in the opposite direction to the exchange rate, the oil price change in the euro price will be amplified.Pricing in euros will eliminate the impact of European oil prices on the euro againstUSD exchange rateOfdependence。
On April 4, 2021, Robert Mondale, due to illnessItalyDied at the age of 88。[4]
financial risk
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The European Central Bank issues an issue every six monthsfinancial stability The assessment report, the latest financial stability assessment report released on May 25, 2022, pointed out that in view of the conflict between Russia and UkraineBulk commoditiesrise in price,eurozoneThe risk of high inflation increases, and the financial stability of the euro area deteriorates accordingly.European Central Bank Vice President De Jindos said that the conflict between Russia and Ukraine almost affectedeconomic activityAnd financing conditions increase the risk of financial stability.[6]
international news
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On July 23, 2022, the website of Ecuador's Latin America News Agency reported that the euro reached parity with the US dollar during the devaluation in the second week of July, which was the lowest point in the past 20 years.The political and military situation in Europe is the main reason for the weakening of the euro.Bruno Kerman, a well-known Belgian economist and professor of the Free University of Brussels, said on the French channel of Swiss Radio on the 12th that as long as the war between Russia and Ukraine continues, the weakness of the euro will continue, and "this may be a very long (period of time).[15]
The preliminary statistical data released by Eurostat on October 31, 2023 shows that the inflation rate in the Eurozone in October was 2.9% at an annual rate, lower than 4.3% in September and the lowest level in more than two years, due to the decline in energy prices and the increase in interest rates by the European Central Bank.Affected by previous interest rate hikes, the economy of the euro area may continue to weaken during the year. It is expected that the impact of interest rate hikes will last at least until the first quarter of 2024.[14]
