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The Euro was introduced on January 1, 1999, as an electronic currency in the member states of the European Monetary Union (EMU). It replaced the national currencies of 11 countries: the Belgian franc, the German mark, the French franc, the Italian lira, the Luxembourg franc, the Dutch guilder, the Austrian schilling, the Portuguese escudo, the Spanish peseta, the Finnish markka, and the Irish punt.
The name Euro was chosen by the European Council in Madrid in December 1995. It was selected because:
The Euro has since been adopted by an additional 19 countries in the EU, including the recent addition of Croatia in 2023. It has become one of the most widely used currencies in the world, representing a significant step in European economic and political integration.
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