The symbol (sign) of the franc (₣) is a short designation of the national currency of France (replaced by the euro in 2002), as well as other modern and historical currencies called “franc”. The peculiarity of the symbol is that in various fonts it... ... Wikipedia
The symbol (sign) of the pound (lira, livre) is a short designation of the British pound sterling in the form of the symbols £ or ₤. In addition to the UK, it is also used in other countries whose currency is the pound (for example, in Egypt) or the lira (for example, in Turkey) ... Wikipedia
The yen (yuan) symbol is a traditional hieroglyph or modern Latin-based grapheme (¥) used to briefly represent the Japanese yen and Chinese yuan. Contents... Wikipedia
It is a handwritten version of the Cyrillic letter “g” with two horizontal strokes ₴ (the sign may not be displayed in all browsers). The officially adopted reduction of the national currency of Ukraine for both Russian and Ukrainian... ... Wikipedia
The symbol (sign) of rial (﷼) is the Arabic and Persian word ريال (read in different countries as rial, real, riyal or riel), which is the name of several ... Wikipedia
Euro- (Euro) Euro is the single European currency Euro: description of coins and banknotes, history of creation and development, place in the world economy Contents >>>>>>>>>> ... Investor Encyclopedia
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Books
- Symbol of power (gift edition), V. P. Butromeev, V. V. Butromeev, N. V. Butromeeva. Stylishly designed gift edition with silk ribbon. The book is bound in leather and in a case, decorated with gold embossing. The three-sided edge is painted with abrasion-resistant natural…
- Symbol of power. Illustrated encyclopedic reference book, V. P. Butromeev, V. V. Butromeev, N. V. Butromeeva. Manifesting itself as a symbol in the name of the ruler, power gives rise to a whole system of symbols of power. Name. Title. The rite of coronation, the ceremony of taking power. Special clothes, from cloak to mantle, from...
Euro- the official currency of nineteen countries that are members of the European Union, and the national currency of six more European countries (see the list of countries where the euro is used below). The symbol for the euro is a round letter "E" with one or two lines crossing it horizontally: €.
1 euro consists of 100 cents, or euro cents. There are banknotes in circulation in denominations of 5, 10, 20, 50, 100, 200, and 500 euros. Coins in circulation: 1 and 2 euros, as well as 1, 2, 5, 10, 20, and 50 cents.
The roots of the euro go back to the economic crisis of the 1970s. Because of this crisis, the first plans arose to create a single currency, which was later replaced by the euro. Were different reasons to create a euro currency: concerns about the stability of the dollar, especially against the backdrop of a deteriorating US economy; strengthening the integration of European states; increased price competition in the Eurozone; and others. Read more about the history of the euro in the appropriate section below.
Today, the euro is not only a world currency, but also one of the global reserve currencies (the second largest). Central banks in many countries around the world are diversifying their reserves and holding them in US dollars, Japanese yen, and also euros. The euro is today the second most exchanged currency in the world, after the US dollar. As of 2014, almost a trillion euros were in circulation.
Euro exchange rate
In the currency converter you can see the exchange rate of the euro to the ruble and to the dollar today.
History of the euro, history of the euro currency
For the first time the euro was introduced as an accounting currency January 1, 1999. The history of the euro is closely connected with the adoption of the Maastricht Treaty (“Treaty of European Union”).
The history of the euro currency dates back to the time when member countries of the European Union began to accept the euro as their national currency. At the beginning of its history, the euro was used only as an electronic currency; as a cash currency, the euro was only accepted January 1, 2002. At the time of the introduction of the euro as a cash currency, it began to be used in 12 European countries at once. Subsequently, many other European countries switched to the euro (see the list of countries using the euro below).
Former currencies of European countries in the history of the euro
Many European currencies (German mark, French franc, Italian lira, and others) ceased to exist by July 1, 2002. This date is important in the history of the euro, it is considered the beginning of centralized monetary policy. With the introduction of the euro, the European Central Bank began to implement monetary policy in countries using the single euro currency.
Attempts to create a single currency have been made for a long time. Back in 1979, the European Monetary System was introduced, which was in effect until December 31, 1998, until the creation of the euro. This system used the European currency unit (ECU, from the English. ECU - European Currency Unit).
The purpose of the euro
The euro currency was introduced with the aim of creating a more stable European economy, which can be said to have been achieved - economic growth across Europe has increased since the adoption of the euro, and the different financial markets of Europe have become more integrated with each other. In addition, the euro currency has strengthened the European presence in the global economy due to its status as a reserve currency. Also, the introduction of the euro made it possible to mitigate exchange rate volatility between different European countries.
Problems and difficulties in the history of the euro
Since the adoption of the euro, some difficulties have sometimes arisen. Although the euro has improved stability throughout the region, all countries have to maintain roughly the same interest rate to avoid interest arbitrage. This circumstance has led to difficulties in some economies of the European Union countries, in particular in Germany. Due to the introduction of the euro, it is no longer possible to use the interest rate as an instrument of fiscal policy. If the growth of a country's economy slows down, the government of that country will not be able to lower the interest rate to stimulate growth.
Euro in different countries, in which countries is the euro
Today, the euro is one of the most powerful currencies in the world. The currency is used by almost 340 million Europeans in twenty-four European countries (nineteen of which are members of the European Union). The euro is also used in some non-European countries.
In which countries is the euro
Listed below are the countries that use the Euro currency. Euro is also used in some overseas territories and possessions of European countries not listed below. In addition, over 200 million more people in the world use currencies pegged to the euro.
Countries in bold on the list are members of the European Union.
| A country | Year of adoption of the euro | Currency previously used |
| Austria | 1999 | Austrian schilling |
| Andorra | 2012 | Did not have official currency; French franc and peseta were used |
| Belgium | 1999 | Belgian franc |
| Vatican | 2002 | Vatican lyre |
| Germany | 1999 | German mark |
| Greece | 2001 | Greek drachma |
| Ireland | 1999 | Irish pound |
| Spain | 1999 | Peseta |
| Italy | 1999 | Italian lira |
| Cyprus | 2008 | Cypriot pound |
| Kosovo | 2002 | Yugoslav dinar, German mark, US dollar, Swiss franc |
| Latvia | 2014 | Latvian lat |
| Lithuania | 2015 | Lithuanian litas |
| Luxembourg | 1999 | Luxembourg franc |
| Malta | 2008 | Maltese lira |
| Monaco | 2002 | Monegasque franc |
| Netherlands | 1999 | Dutch guilder |
| Portugal | 1999 | Portuguese escudo |
| San Marino | 2002 | Sanmarine lira |
| Slovakia | 2009 | Slovak koruna |
| Slovenia | 2007 | Slovenian tolar |
| Finland | 1999 | Finnish brand |
| France | 1999 | French franc |
| Montenegro | 2002 | Did not have an official currency; German mark was used |
| Estonia | 2011 | Estonian kroon |
Euro banknotes with photos, euro banknotes, euro bills with photos
All possible euro banknotes with photos are listed below. Both front and back sides of banknotes are presented.
| Number of euros | Front side | Reverse side |
| 5 euros |  |
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| 10 euros |  |
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| 20 euros |  |
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| 50 euros |  |
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| 100 euro |  |
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| 200 euros |  |
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| 500 Euro |  |
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Euro coins, euro coins with photos, euro coins
Listed below are all issued euro coins with photos. Different countries issue different euro coins; below are photos of euro coins from all countries where they are issued (part of the European Union).
Austria. Coins of Austria
Andorra. Coins of Andorra
Belgium. Coins of Belgium
Vatican. Vatican coins
Germany. Coins of Germany
Greece. Coins of Greece
Ireland. Coins of Ireland
Spain. Coins of Spain
Italy. Coins of Italy
Cyprus. Coins of Cyprus
Latvia. Coins of Latvia
Lithuania. Coins of Lithuania
Luxembourg. Coins of Luxembourg
Malta. Coins of Malta
Monaco. Monaco coins
Netherlands. Coins of the Netherlands
Portugal. Coins of Portugal
San Marino. Coins of San Marino
Slovakia. Coins of Slovakia
Slovenia. Coins of Slovenia
Finland. Coins of Finland
France. Coins of France
TASS DOSSIER. 15 years ago, on January 1, 2002, the European currency, the euro, was introduced into cash circulation.
The euro is the single European currency. It is official in the countries of the eurozone, which includes 19 of the 28 EU members (Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Finland, France , Estonia). By agreement with the European Union, the euro is used in Andorra, Monaco, San Marino and the Vatican, and on a non-contractual basis in Montenegro and Kosovo.
Story
Ideas for creating a single European currency were expressed back in the first half of the 20th century. Thus, in 1929, the German politician Gustav Stresemann spoke about the need for its introduction at a meeting of the League of Nations. Members of the European Economic Community (EEC - a regional integration association in Europe in 1957-1993, predecessor of the EU) have been discussing this possibility since the late 1960s.
In 1979, the European Monetary System (EMS) began operating, within which the European Currency Unit (ECU) was introduced. It was calculated as a basket of currencies of the EMU member countries. Each European currency that was part of the system had a fixed exchange rate to the ECU, on the basis of which fixed exchange rates were formed in relation to each other.
In 1992, the Maastricht Treaty on the European Union was signed, which established the procedure for creating a monetary union and “a stable currency for the 21st century.” The “Maastricht criteria” were established - the requirements necessary for joining the union. Among them are a positive or zero state budget balance (in exceptional cases, a deficit of no more than 3% of GDP), public debt of no more than 60% of GDP, low inflation, and stable exchange rates. After the Maastricht Treaty came into force on November 1, 1993, the EMU effectively ceased to exist.
On December 15, 1995, the European Council approved the name of the new common currency - the euro. When creating the symbol for its designation, the letter “epsilon” of the Greek alphabet, which is crossed by two parallel lines, was taken as a basis. The letter itself is an association with the word "Europe", and the two lines symbolize its stability and reliability. The official presentation of the mark took place on December 12, 1996.
In May 1998, the European Commission named 11 countries whose economic indicators met the “Maastricht criteria.” The list included Austria, Belgium, Germany, Holland, Ireland, Spain, Italy, Luxembourg, Portugal, Finland and France (Great Britain and Denmark also met the stated conditions, but back in 1992 they stipulated in a special protocol their right not to switch to a single currency; the Swedish authorities also decided to preserve the national currency).
These states introduced the euro into non-cash payments on January 1, 1999; at this stage it was in circulation along with national currencies. The cent became the currency of exchange for the euro (1 euro = 100 cents; the name “eurocent” is often used). The first exchange rate between the euro and the US dollar was established on January 4, 1999: then 1 euro was worth 1.1789 dollars. Subsequently, the minimum euro-dollar exchange rate was recorded on October 26, 2000 ($0.8252 per 1 euro), the maximum on July 15, 2008 ($1.599 per 1 euro).
After the introduction of the euro into cash circulation on January 1, 2002, for some time, eurozone member states continued to use national currencies. In a number of countries (for example, Austria, Germany and Ireland) it was announced that the old currency would be accepted indefinitely and exchanged for euros at fixed rates.
Eurozone expansion
The number of eurozone participants gradually expanded. Greece joined it back in 2001, Slovenia - in 2007, Cyprus and Malta - in 2008, Slovakia - in 2009, Estonia - in 2011, Latvia - in 2014, Lithuania - 2015 G.
It is expected that other EU members (Bulgaria, Czech Republic, Hungary, Romania, Croatia, Poland and Sweden) will also join the eurozone. However, according to representatives of the European Union, at present they do not fully comply with the “Maastricht criteria”.
Currency management
Monetary policy in the eurozone is carried out by the European Central Bank (ECB). He coordinates his actions with the national central banks of 19 countries (together they form the Eurosystem).
The remaining states using the euro cannot influence the decisions of the ECB and send their representatives to its governing bodies.
Issue, banknotes and coins
The ECB has the exclusive right to authorize the issue of the euro. Banknotes (in denominations of 5, 10, 20, 50, 100, 200, 500 euros) are printed by the Eurosystem (within the quotas established by the ECB). They share a single design developed by the Austrian Robert Kalina in 1996. They depict schematic examples of European architecture from various styles and periods of history. Depending on the denomination, banknotes have different colors and sizes. In 2013, the first of the updated banknotes with improved security features and Cyrillic inscriptions were put into circulation (in anticipation of the introduction of the euro in Bulgaria). In 2018, the 500 euro banknote will be withdrawn from circulation.
Coins (1,2,5,10,20,50 cents, as well as 1 and 2 euros) are minted in the member states of the eurozone, and also, in accordance with an agreement with the EU, in Andorra, Monaco, San Marino and Vatican City . The coins have a common part of the reverse (back side), the image for which was designed by the Belgian Luc Leix. Their obverse design varies depending on the issuing country. As a rule, it depicts National symbols, historical events, famous people, works of art, etc. Eurozone countries also issue commemorative (usually 2 euro) and bullion coins.
As of November 2016, there are 1.1 trillion euros in cash circulation.
International status of the euro
The euro quickly established itself as the world's second most valuable international currency after the US dollar. Currently, its share in international payments is 29.4%. The euro partially inherited from the German mark, the French franc and other European currencies the status of one of the main reserve currencies: its share in world foreign exchange reserves in 2015 was 19.9%.
The exchange rates of more than 20 countries around the world are pegged to the euro (Bosnia and Herzegovina, Bulgaria; African countries, included in the CFA franc zone, etc.). In Russia, the euro is taken into account in the bi-currency basket, which the Central Bank of the Russian Federation uses as a guideline when determining exchange rate policy (from the ratio of 55 US centers to 45 euro cents).
The euro was introduced to global financial markets as a currency of account in 1999, and banknotes and coins were introduced into cash circulation on January 1, 2002. The Euro replaced the European Currency Unit (ECU), which was used in the European Monetary System from 1979 to 1998, at a 1:1 ratio.
The euro is governed and administered by the European Central Bank (ECB), based in Frankfurt, and the European System of Central Banks (ESCB), which consists of the central banks of the eurozone member countries. The ECB is an independent central bank and has the exclusive right to set monetary policy in the eurozone. The ESCB is responsible for printing banknotes and minting coins, distributing cash across eurozone countries, and also ensures the functioning of payment systems in the eurozone.
Euro banknotes and coins
There are seven denominations of euro banknotes - 5, 10, 20, 50, 100, 200 and 500 euros. The banknotes are made in the same style, but depending on the denomination they differ in color and size. The front of the banknotes features windows and gates, a symbol of openness and the European spirit of cooperation. The reverse side of the banknotes features bridges symbolizing open communication. By January 1, 2002, 14.5 billion banknotes had been printed.
The banknote design was developed by Robert Kalina and selected among 44 entries on December 3, 1996 by a council of the European Monetary Institute.
Each banknote has its own size and color. Each banknote contains the flag of the European Union, the abbreviation “ECB” in five languages (BCE, ECB, EZB, EKT, EKP), a map of Europe, the name of the euro currency in Latin and Greek (“ΕΥΡΩ”) transcription, and the signature of the current ECB president. Additionally, 12 stars of the European Union flag are depicted. The banknotes also depict examples of European architecture from various styles and periods of history. Windows and gates are depicted on the front side of the banknotes, and bridges are depicted on the reverse side. Images are schematic illustrations and not representations of existing structures. Banknotes of different denominations have different colors and sizes. The higher the face value, the larger the banknote in size.
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5 euro banknotes. Size: 120×62 mm Main Color: Gray |
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10 euro banknotes. Size: 127×67 mm Main color: red |
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20 euro banknotes. Size: 133×72 mm Main color: blue |
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50 euro banknotes. Size: 140×77 mm Main color: orange |
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100 euro banknotes. Size: 147×82 mm Main color: green |
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200 euro banknotes. Size: 153×82 mm Main color: yellow |
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500 euro banknotes. Size: 160×82 mm Main Color: Purple |
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The coin range includes coins in denominations of 1, 2, 5, 10, 20 and 50 euro cents (1 euro = 100 euro cents), as well as 1 and 2 euros.
On the front side (obverse) of each coin there is a design minted that displays certain features of a particular state.
On the reverse side of the coins, one of three designs common to all countries is minted, depicting the outlines of Europe surrounded by 12 stars of the European Union. The overall design depicts a map of the EU against a background of parallel lines extending towards the 12 stars of the EU flag. The 1, 2 and 5 cent coins depict Europe's place on the world map, while the 10, 20 and 50 cent coins show Europe as a group of individual states. The 1 and 2 euro coins feature an image of a map of Europe without borders between individual states.
For people with impaired vision, the coins are equipped with an edge that helps determine their value. The 1 and 2 euro coins are minted from bimetal, which, together with the text placed around the edges of the 2 euro coin, should prevent them from being counterfeited.
All coins, regardless of country of origin, circulate freely in the eurozone. By January 1, 2002, about 50 billion coins of various denominations had been prepared.
| Denomination: 1 cent Diameter: 16.25 mm Thickness: 1.36 mm Weight: 2.30 grams Color: red |
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| Denomination: 2 cents Diameter: 18.75 mm Thickness: 1.36 mm Weight: 3.06 grams Color: red Metal: copper plated steel |
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| Denomination: 5 cents Diameter: 21.25mm Thickness: 1.36 mm Weight: 3.92 grams Color: red Metal: copper plated steel |
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| Denomination: 10 cents Diameter: 19.75 mm Thickness: 1.51 mm Weight: 4.10 grams Yellow color Metal: Nordic Gold |
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| Denomination: 20 cents Diameter: 22.25mm Thickness: 1.63 mm Weight: 5.74 grams Yellow color Metal: Nordic Gold |
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| Denomination: 50 cents Diameter: 24.25mm Thickness: 1.88 mm Weight: 7.80 grams Yellow color Metal: Nordic Gold |
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| Denomination: 1 euro Diameter: 23.25mm Thickness: 2.125 mm Weight: 7.50 grams Color: white/yellow |
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| Denomination: 2 euro Diameter: 25.75mm Thickness: 1.95 mm Weight: 8.50 grams Color: white/yellow Metal: copper-nickel, nickel alloys |
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The reverse side of the coins characterizes a separate country of the European Union and is different from the rest.
Checking the serial number. The euro banknote number consists of a letter and eleven digits. Numbers are generated using a special algorithm, resulting in interesting mathematical patterns.
Country of issue
When you add up all the digits of a number, you get a two-digit number. If you repeat the operation for the found result (several times if necessary), you can eventually reach the digital root from 1 to 9. The letter and this single-digit number will indicate the country in which the bill was printed.
Each country that has the right to issue the euro is assigned a certain letter, as well as a checksum number: Austria - N - 3, Belgium - Z - 9, Germany - X - 2, Greece - Y - 1, Ireland - T - 6, Spain - V - 4, Italy - S - 7, Cyprus - G - 1, Malta - F - 2, Netherlands - P - 1, Portugal - M - 4, Slovakia - E - 3, Slovenia - H - 9, Finland - L - 5, France - U - 5, Estonia - D - 4.
Example. 100 euro banknote with number S11752786501. The double sum is equal to: 1+1+7+5+2+7+8+6+5+0+1=43; 4+3=7. Both the letter S and 7 refer to Italy.
Checksum 8
The letter of the serial number is replaced by a number corresponding to the serial number of the letter in the English alphabet. This number and all the digits of the number are added until a single digit number is obtained. For a genuine banknote, the final amount is always 8.
Letters of the English alphabet in order: A - 1, B - 2, C - 3, D - 4, E - 5, F - 6, G - 7, H - 8, I - 9, J - 10, K - 11, L - 12, M - 13, N - 14, O - 15, P - 16, Q - 17, R - 18, S - 19, T - 20, U - 21, V - 22, W - 23, X - 24, Y - 25, Z - 26.
Example. 100 euro banknote with number S11752786501. The letter S is the 19th letter in the alphabet. Addition chain: 19+1+1+7+5+2+7+8+6+5+0+1=62; 6+2=8.
External signs of euro authenticity
Each euro banknote has its own size, dominant color and design style. A set of mandatory attributes is present on banknotes of any denomination.
Paper
To make euros, special paper made from pure cotton is used. It is smooth to the touch on the front side and slightly rough on the back, hard, crunches when bent and, unlike regular paper, does not glow in ultraviolet rays.
Relief printing
Special printing methods give individual elements of banknotes a distinct tactile texture.
On the front side there are denomination numbers, a sign, the ECB (European Central Bank) line in five languages, the year of issue, the Latin and Greek spelling EURO, and the main drawing.
Water marks
When viewing the light coupon fields of a banknote against the light, an image becomes visible, which is formed due to the special structure of the paper (areas of different densities).
Watermarks on the euro are a partial repetition of the main image of the obverse (window or gate), denomination numbers, as well as a machine-readable barcode in the form of vertical dark and light stripes.
Hologram (kinegram)
All euro banknotes have a hologram on the front side - a pressed design on metallized foil with a three-dimensional image effect.
On the 5, 10 and 20 euro banknotes there is a silver transverse stripe on the right, on which either the denomination numbers in a ring of stars or the € symbol are visible at different angles to the light source.
The hologram on the 50, 100, 200 and 500 euro banknotes is an overlay of a certain geometric shape. By changing the angle of view, you can alternately see either the denomination numbers or the architectural motif against the background of diverging rainbow circles formed by microtext (EURO in Latin and Greek and denomination numbers).
Security thread
When examining the banknote against the light, a dark vertical stripe appears in the middle part - this is a security tape completely embedded in the paper web with light microtext EURO and denomination numbers printed on it in upright and inverted display.
Color change
On the reverse of the 50, 100, 200 and 500 euro banknotes, the denomination numbers in the lower right corner are printed with optically variable ink, which changes color from violet to olive brown as the viewing angle changes.
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Machine readable euro security features The following signs of Euro authenticity require special equipment to detect.
Microprinting and micropatterning
In some areas of banknotes, the text is printed in such a small font that it appears to the naked eye as a fine line or pattern, and is only understandable under a magnifying glass. Thus, the letters of the word EURO in Greek on the front side consist of repeating denomination digits on a micro scale.
The micropattern is also clearly visible at multiple magnifications.
Ultraviolet luminescence
The substrate remains dark in ultraviolet rays, while individual banknote patterns glow thanks to luminescent substances in the inks. The protective fibers of paper appear in UV rays as blue, red and green threads. The flag of the European Union on the front of the banknotes is green with orange stars, the signature of the President of the European Central Bank is green, and red-orange stars and background circles (dots) are also visible. The map, bridge, bilingual EURO inscriptions and denomination numbers on the reverse side appear green and yellow. In addition to the general features, there are other features depending on the denomination of the banknote.
Magnetic tags
In some areas of banknotes, inks with magnetic properties are used, which form marks that are detected by magnetic inspection devices. This is the security thread, the right side of the main design on the obverse, the top serial number on the back.
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Other automatically read hidden codes are not disclosed to the general public for currency security purposes.
Code of the country
Where exactly the banknotes themselves are printed depends on each country. Almost all member states of the euro area print “their” banknotes both at their own printing houses and at printing houses in other countries.
You can determine for which country the banknote was printed by its number - the first letter of the number indicates the issuing country. Also, a checksum is “linked” to each country, which is one of the degrees of protection of banknotes from counterfeiting.
Code of the country
Euro banknotes have the right to print exclusively by national central banks of countries belonging to the eurozone in agreement with the European Central Bank (ECB). The decision on the additional issue is made at a meeting of the ECB Governing Council, which includes 6 members of the ECB Directorate appointed by the European Parliament and 16 governors of national banks of the eurozone countries.
Where exactly the banknotes themselves are printed depends on each country. Almost all member states of the euro area print “their” banknotes both at their own printing houses and at printing houses in other countries.
You can determine for which country the banknote was printed by its number - the first letter of the number indicates the issuing country. Also, a checksum is “linked” to each country, which is one of the degrees of protection of banknotes from counterfeiting.
| Code | A country | Check sum |
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Slovakia |
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Slovenia |
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not used |
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Great Britain |
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Finland |
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Portugal |
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not used |
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Netherlands |
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not used |
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Luxembourg |
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Ireland |
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Germany |
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- * Denmark, Sweden and the UK have not yet joined the euro area, but national identifiers have already been assigned to them
- *** Luxembourg does not have its own certified printing houses and has not yet issued its “own” banknotes
Cliche code
Each of the 7 denominations of euro banknotes has a six-character code that contains information about the printing house on which the banknote was printed. The cliche code looks like “G013B6”, where the first letter identifies the printing house, the next three digits identify the cliche number. For example, "013" represents the 13th printing block of the printing house. The fifth and sixth elements of the code indicate, respectively, the row and column of the banknote location on the cliche. This means that with this code the banknote was located on the cliche in the second row, sixth column. Attention: the cliché code on the banknote must not coincide with the country code!
In the European Union there are both state printing houses and private ones that have a license to print money. Several printing houses from former East and West German territories operate in Germany. In France, the Bank of France printing house in Chamalieres and a private printing house in Chantepie have the right to issue Eurobanknotes.
| Code | Printing house | Location | A country | Issuing country |
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| (A)* | (Bank of England Printing Works) | (Lawton) | (Great Britain) | --- |
| (B)** | not used | --- | --- | --- |
| (C)* | (Tumba Bruk) | (Tumba) | (Sweden) | --- |
| D*** | Setec Oy | Vantaa | Finland | L (Finland) |
| E | F. C. Oberthur | Chantepie | France | H (Slovenia) L (Finland) P (Netherlands) U (France) |
| F | Osterreichische Banknoten und Sicherheitsdruck | Vein | Austria | N (Austria) P (Netherlands) S (Italy) T (Ireland) Y (Greece) |
| G | Koninklijke Joh. Enschede | Haarlem | Netherlands | E (Slovakia) F (Malta) G (Cyprus) L (Finland) N (Austria) P (Netherlands) V (Spain) Y (Greece) |
| H | De La Rue | Gateshead | Great Britain | L (Finland) M (Portugal) P (Netherlands) T (Ireland) |
| (I)** | not used | --- | --- | --- |
| J | Istituto Poligrafico e Zecca dello Stato | Rome | Italy | S (Italy) |
| K | Banc Ceannais na hEireann/ Central Bank of Ireland | Dublin | Ireland | T (Ireland) |
| L | Banque de France | Chamalier | France | U (France) |
| M | Fabrica Nacional de Moneda y Timbre | Madrid | Spain | V (Spain) |
| N | Bank of Greece | Athens | Greece | Y (Greece) |
| (O)** | not used | --- | --- | --- |
| P | Giesecke & Devrient | Munich and Leipzig |
Germany | L (Finland) M (Portugal) P (Netherlands) U (France) V (Spain) X (Germany) Y (Greece) |
| (Q)** | not used | --- | --- | --- |
| R | Bundesdruckerei | Berlin | Germany | P (Netherlands) X (Germany) Y (Greece) |
| (S)* | (Danmarks National Bank) | (Copenhagen) | (Denmark) | --- |
| T | National Bank of Belgium | Brussels | Belgium | U (France) V (Spain) Z (Belgium) |
| U | Valora - Banco de Portugal | Carregado | Portugal | M (Portugal) |
- * Denmark, Sweden and the UK have not yet joined the euro area, but their national printing houses have already been assigned identifiers
- ** Several letters are already reserved for the future
- ***Currently not in use. After the complete sale of the printing house to Gemalto Oy in 2003, Finland stopped printing banknotes and ordered them from Europe.
European Central Bank (ECB) and its Presidents
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The European Central Bank is the central bank of the European Union and the euro area. It was formed on June 1, 1998. The bank's headquarters are located in German city Frankfurt am Main. Its staff includes representatives from all EU member states.
Main functions of the bank:
development and implementation of euro area monetary policy;
maintenance and management of official exchange reserves of euro area countries;
issue of euro banknotes;
setting basic interest rates.
maintaining price stability in the eurozone, that is, ensuring the inflation rate does not exceed 2%.
The European Central Bank is the successor to the European Monetary Institute (EMI), which played a leading role in the preparations for the introduction of the euro in 1999.
All euro banknotes bear the signature of the current President of the ECB. Directors are appointed for a term of eight years. In 1998-2010 the bank was headed by:
Wim Duisenberg (07/09/1935 - 07/31/2005), Minister of Finance of the Netherlands and the first president of the ECB. Left post October 31, 2003
Jean-Claude Trichet (b. 12/20/1942), Governor of the Bank of France since 1993, since 10/31/2003 - President of the ECB.
In 1962 The memorandum of the European Community spoke for the first time about the need for a unified financial policy in Europe. The idea of a “currency snake” is being put forward, that is, fixing the exchange rates of EU countries’ currencies in a certain range. The implementation of this plan was prevented by the energy crisis of 1972, caused by a sharp rise in oil prices.
In 1979 The idea of a "currency snake" was implemented and the European Monetary System was created. EU central banks have entered into an agreement to limit exchange rate fluctuations. A prototype of the euro, the single settlement currency ECU (ECU), was introduced.
These ideas were further developed in the Single European Act of 1986 and the Maastricht Treaty on European Union of 1992, which formally laid the foundations for the Economic and Monetary Union (EMU) and the single European currency.
The most important provisions of the Maastricht Treaty concerned economic and financial policies, the ultimate goal of which was the introduction of a single currency in the EU countries. The agreement provided for a timetable for the introduction of a single currency and general rules in the areas of government budgets, inflation and interest rates for all members of the future monetary union.
Stability criteria
In order for the euro to be put into circulation, all member countries of the monetary union must meet strict stability criteria enshrined in the Maastricht agreements: the inflation rate in a country wishing to join the monetary union can exceed those of the three most stable EU states by no more than by 1.5%; public debt can be no more than 60% of gross domestic product (GDP); the state budget deficit cannot exceed 3% of GDP; interest rates on bank loans may be only 2% higher than those of the three most stable countries; Candidates for joining the union do not have the right to devalue national currencies on their own initiative for two years.
In 1994, the European Monetary Institute was established in Frankfurt am Main, whose tasks included leading the project to create a single currency and monitoring economic processes in EU member countries.
The official scenario for the transition to a single currency was adopted at the Madrid summit on December 15-16, 1995, and the name of the new currency, “euro,” was also established.
In 1997-1998, a competition was held in several rounds for the best design of the euro cash, the winner of which was Robert Kalina, chief designer of the Central Bank of Austria. In February 1998, the design and specifications of the banknotes were approved by the Council of the European Monetary Union. In August 1998, major tests were carried out to print all banknote denominations to finally resolve the issue issues.
The design of the banknotes uses images of outstanding European monuments. The windows and doors depicted on the front side symbolize the spirit of openness and cooperation within the European Community. The reverse side of each banknote features a bridge as a metaphor for how people communicate in the EU and beyond. All banknotes have special protection against counterfeiting.
The tender for the supply of metal for minting euro coins was won by China's Luoyang Copper Plant in the central province of Henan.
According to the criteria for joining the new currency, on May 2, 1998, the Council of the EU admitted Austria, Belgium, Germany, Ireland, Spain, Italy, Luxembourg, the Netherlands, Portugal, Finland and France to participate in the euro area. Two countries - Great Britain and Sweden - also met most of the specified criteria, but refused to enter the “euro zone” as its first participants. Denmark had constitutional problems, and Greece's financial performance did not meet the necessary requirements.
On June 1, 1998, the European Central Bank (ECB) was established. Its headquarters are located in Frankfurt am Main, Germany. The bank's objectives are to maintain price stability and implement a common monetary policy throughout the eurozone.
Walking among the people
The introduction of the euro occurred gradually: first in non-cash circulation, then cash bills were issued.
January 1, 1999 At 00.00 hours European time, the countries of the European Economic and Monetary Union (EMU) introduced a single currency, the euro (EUR), and began to use it for non-cash payments. From that moment on, the exchange rates of the national currencies of the participating countries in relation to the euro were rigidly fixed, and the euro became an independent, full-fledged monetary unit. At this stage, both the euro and national currencies functioned in parallel and on an equal footing. Euro trading began on January 4, 1999.
January 1, 2001 Greece joined the euro area and became the 12th country to adopt a single European currency on its territory.
Since January 1, 2002 within a period that each country determined independently (but not more than six months), euro banknotes and coins were introduced into circulation, replacing the previous banknotes and coins in national monetary units. Within six months, the old national banknotes and coins could still circulate on par with the euro. However, after June 1, 2002, the euro becomes the only legal tender in the Eurozone countries.
Slovenia became eligible in 2006 and joined the eurozone on January 1, 2007. Cyprus and Malta passed the approval procedure in 2007 and joined the eurozone on January 1, 2008. It is expected that the next country to join the eurozone will be Slovakia in 2009.
In addition, the euro was also put into circulation: in the dwarf states of Europe that are not formally members of the European Union (Vatican City, San Marino, Andorra and Monaco); in the overseas departments of France (Guadeloupe, Martinique, French Guiana, Reunion); on the islands that are part of Portugal (Madeira and Azores); in the Serbian province of Kosovo, controlled by international peacekeeping forces; in Montenegro (formerly the German mark).
Euro symbol
Euro (€, bank code: EUR). The Greek letter "upsilon" served as the basis for the graphic symbol of the euro, which has a connection with the first letter of the word "Europe". The parallel lines symbolize the stability of the euro. The official abbreviation for the euro is EUR, registered in International organization standards, ISO, and is used for business, financial and commercial purposes.
Euro - banknotes and coins
The euro is divided into 100 cents (euro cents). All euro coins, including the €2 commemorative coins, have one common side, which shows the denomination of the coin against a background of European countries, and a second "national" side, with an image chosen by the country in which the coin was minted. All coins, however, can be used in all Eurozone member countries.
Euro coins are issued in denominations of 2 and 1 euro, 50, 20, 10, 5, 2 and 1 euro cent. The last two coins are not minted in Finland and the Netherlands (but are also legal tender there). Many shops in the Eurozone prefer to align prices so that they are multiples of 5 cents and there is no need for 1 and 2 euro cent coins. The reverse side may vary depending on the country in which a particular coin was issued, and represents the national symbols of the country.
All euro banknotes have a common design for each denomination on both sides. Banknotes are issued in denominations of 500, 200, 100, 50, 20, 10 and 5 euros. Some higher denomination banknotes, such as the 500 and 200 euros, are not issued in some countries but are legal tender everywhere.
According to media reports, new euro banknotes with an increased degree of security will appear in 2010. The appearance of banknotes will also change. However, it was decided that the design on them would generally correspond to the current one - images of bridges, windows, the EU flag and a map of Europe. It is also necessary to make changes to the inscriptions on banknotes - in connection with the accession of new states to the EU and their entry into the euro zone in the coming years.
In total, during the replacement, 11.2 billion euro banknotes currently in circulation with a total denomination of 637 billion will be withdrawn. The operation is expected to take place in several stages.
