5/16/2008

Europe's single currency

A decade on from the decision to launch the euro

Ten years after the EU's historic decision to adopt a single currency, the European Commission has presented a detailed analysis of the euro's experience to date and launched a debate on how to address the challenges likely to be faced over the next decade.

In May 1998 European leaders agreed to introduce the euro in 11 countries at the start of 1999. Although euro banknotes and coins did not make their appearance until 2002, economic and monetary union (EMU) started in 1999 with a single exchange rate and monetary policy run by the European Central Bank (ECB). A decade later, the euro zone embraces 15 members with a total population of 320m, greater than that of the US. ...



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