query: what currency is used in france before euro?

title: Euro

text: the highest weighting. With the exception of Bosnia, Bulgaria, Macedonia (which had pegged their currencies against the Deutsche Mark) and Cape Verde (formerly pegged to the Portuguese escudo), all of these non-EU countries had a currency peg to the French Franc before pegging their currencies to the euro. Pegging a country's currency to a major currency is regarded as a safety measure, especially for currencies of areas with weak economies, as the euro is seen as a stable currency, prevents runaway inflation and encourages foreign investment due to its stability. Within the EU several currencies are pegged to the euro,

title: Andorra and the euro

text: facto" used the EU's euro (the currency of the Eurozone states) as it had historically used the French franc and Spanish peseta. When those two currencies were replaced by the euro in 2002, the euro replaced the franc and peseta as the sole circulating currency in Andorra. Unlike the three other European microstates outside of the EU, Monaco, San Marino and the Vatican City, which adopted the euro when it was introduced, Andorra did not conclude a monetary agreement with the EU but rather used it unilaterally. These agreements gave the three microstates the right to issue their own euro

title: Overseas Territories of France (European Parliament constituency)

text: No. 2007-224 of 21 February 2007: Those eleven territories have different status with the European Union (none of them are part of the Schengen Area): The legal currency in those overseas territories is the Euro since 1999 (before then, it was the French franc), including in OCTs (by special agreement with the European Union) except those in the Pacific section which still use the CFP franc (bound to the Euro by a special agreement between France and the European Union, but with a revocable rate of 8.38 EUR for 1,000 XPF). Overseas Territories of France (European Parliament constituency) In European

title: Euro Currency Index

text: Euro Currency Index The Euro Currency Index (EUR_I) represents the arithmetic ratio of four major currencies against the Euro: US-Dollar, British Pound, Japanese Yen and Swiss Franc. All currencies are expressed in units of currency per Euro. The index was launched in 2004 by the exchange portal Stooq.com. Underlying are 100 points on 4 January 1971. Before the introduction of the European single currency on 1 January 1999 an exchange rate of 1 Euro = 1.95583 Deutsche mark was calculated. Based on the progression, Euro Currency Index can show the strength or weakness of the Euro. A rising index indicates

title: Euro Currency Index

text: table shows the annual high, low and closing levels of the back-calculated Euro Currency Index from 1971 until 2012. ¹ 31. December 2012 Euro Currency Index The Euro Currency Index (EUR_I) represents the arithmetic ratio of four major currencies against the Euro: US-Dollar, British Pound, Japanese Yen and Swiss Franc. All currencies are expressed in units of currency per Euro. The index was launched in 2004 by the exchange portal Stooq.com. Underlying are 100 points on 4 January 1971. Before the introduction of the European single currency on 1 January 1999 an exchange rate of 1 Euro = 1.95583 Deutsche

title: Euro Currency Index

text: points). The Euro Currency Index started on 4 January 1971 with 100 points. Before the introduction of the European single currency on 1 January 1999, an exchange rate of 1 Euro = 1.95583 Deutsche Mark was calculated. On April 19, 1971, the Euro Currency Index gained 99.67 points calculated with an all-time low. Until 3 December 1979, the index rose by 68.0 percent to 167.43 points. With the depreciation of the Deutsche Mark against the major currencies, the index fell to mid-1980s. On 3 May 1985, the Euro Currency Index was at level 122.26 points, up by 27.0 percent. The

title: Euro Currency Index

text: Euro Currency Index, since the competitiveness of European goods in comparison to other countries and trading partners is included in it. On September 13, 2005 Dow Jones & Company published two versions of the index, the Dow Jones Euro Currency Index (DJEURO) and the Dow Jones Euro Currency 5 Index (DJEURO5). Under-lyings of each were 100 points on 31 December 1998. The calculation of the Dow Jones Euro Currency 5 Index was set on 29 August 2008 (last value 121.97 points) and the calculation of the Dow Jones Euro Currency Index on 9 January 2009 (last value 119.41 points). The

title: Euro Currency Index

text: an appreciation of the Euro against the currencies in the currency basket, a falling index in contrast, a devaluation. Relationships to commodity indices are recognizable. A rising Euro Currency Index means a tendency of falling commodity prices. This is especially true for agricultural commodities and the price of oil. Even the prices of precious metals (gold and silver) are correlated with the index. Arithmetically weighted Euro Currency Index is comparable to the trade-weighted Euro Effective exchange rate index of the European Central Bank (ECB). The index of ECB measures much more accurately the value of the Euro, compared to the

title: Euro Currency Index

text: Euro Currency Index (ECX, also EURX or EXY) was launched on 13 January 2006 by the New York Board of Trade (NYBOT) and calculated back to 2001. In 2007, the IntercontinentalExchange (ICE) based in Atlanta (USA) changed the name of the stock exchange in IntercontinentalExchange The index was a ratio that compared the value of the Euro by a currency basket of five currencies: US-Dollar (31.55 percent), British Pound (30.56 percent), Japanese Yen (18.91 percent), Swiss Franc (11.13 percent) and Swedish Krona (7.85 percent). The ECX was the geometrically weighted average compared to these currencies. The formula for the calculation

title: Euro Currency Index

text: summer of 2007, the index began to decline. On 6 February 2009 a value of 187.84 points was determined. In the following eight months, the European single currency rebounded from the lows. On 13 October 2009, the index rose by 208.45 points, near its historical high point. A financial crisis in several member states of the Euro zone in 2010 led to the outbreak of the Euro crisis. Particularly affected is Greece (see Greek government-debt crisis from 2010), but also other countries such as Ireland, Spain, Italy and Portugal. The weakness of the Euro against almost all global currencies caused

title: Euro

text: Euro The euro (sign: €; code: EUR) is the official currency of 19 of member states of the European Union, as well as some of the territories of the EU. This group of states is known as the eurozone or euro area. It is the second largest and second most traded currency in the foreign exchange market after the United States dollar. The euro is subdivided into 100 cents. The currency is also officially used by the institutions of the European Union and its territories, four other European countries, as well as unilaterally by two others, and is consequently used

title: Andorra and the euro

text: Andorra and the euro Andorra has a monetary agreement with the EU allowing it to make the euro its official currency, and permitting it to issue euro coins from 1 July 2013. They planned to issue their first coins by March or April 2014. On 23 December coins were delivered for pre-booked customers at the Government Administration Building, and actual circulation began on 15 January 2015. Andorra did not have an official currency before adopting the euro, and unlike its two larger neighbours, France and Spain, which surround it, it is not a member of the EU. However it "de

title: Euro

text: states; it was not a currency in its own right. They could not be set earlier, because the ECU depended on the closing exchange rate of the non-euro currencies (principally the pound sterling) that day. The procedure used to fix the conversion rate between the Greek drachma and the euro was different, since the euro by then was already two years old. While the conversion rates for the initial eleven currencies were determined only hours before the euro was introduced, the conversion rate for the Greek drachma was fixed several months beforehand. The currency was introduced in non-physical form (traveller's

title: 10 euro note

text: about 1.5 years before it is replaced due to wear. It is the second-smallest note measuring 127x67 mm with a pink colour scheme. The ten euro banknotes depict bridges and arches/doorways in Romanesque architecture (between the 11th and 12th centuries). The ten euro note contains several complex security features such as watermarks, invisible ink, holograms and microprinting that document its authenticity. The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accountancy. Euro cash

title: De facto currency

text: De facto currency A de facto currency is a unit of money that is not legal tender in a country but is treated as such by most of the populace. The United States dollar and the European Union euro are the most common de facto currencies. Andorra used the euro unofficially prior to June 2013, at which point the euro became its official currency. The euro remains the de facto currency in Kosovo and Montenegro. Countries using the United States dollar as their de facto currency include Aruba and Cambodia, where most hotels, restaurants, and transportation are priced in dollars;

title: Euro Currency Index

text: the index to fall from 29 June 2010 to 175.31 points. In the following months, the European Stability Mechanism was developed, which provides for mutual assistance in case of emergency to avoid the bankruptcy of the Member States. By May 4, 2011, the index rose to a level of 200.20 points. With the intensification of the sovereign debt crisis in the Euro zone, the Euro Currency Index fell 24 July 2012 with 168.38 points, its lowest level since March 29, 2006. Compared to the all-time high of 29 December 2008, this represents a decrease of 19.7 percent . The below

title: Euro

text: currency in Cuba since 1998, and Syria since 2006. There are also various currencies pegged to the euro (see below). In 2009, Zimbabwe abandoned its local currency and used major currencies instead, including the euro and the United States dollar. Since its introduction, the euro has been the second most widely held international reserve currency after the U.S. dollar. The share of the euro as a reserve currency increased from 18% in 1999 to 27% in 2008. Over this period, the share held in U.S. dollar fell from 71% to 64% and that held in Yen fell from 6.4% to

title: Currency Centre

text: Currency Centre The Currency Centre (also known as the Irish Mint) is the mint of coins and printer of banknotes for the Central Bank of Ireland, including the euro currency. The centre is located at Sandyford, Dublin, Ireland. The centre does not print the complete range of euro banknotes. Other denominations are imported. The centre was designed by the architect Sam Stephenson, for which he won the RIAI Triennial Gold Medal in 1977-1979 and opened for business in 1978. Before the centre was established, Irish coins were produced in the Royal Mint. The first euro coins were minted in the

title: Euro

text: national currencies had to be carried out using the process of triangulation via the euro. The "definitive" values of one euro in terms of the exchange rates at which the currency entered the euro are shown on the right. The rates were determined by the Council of the European Union, based on a recommendation from the European Commission based on the market rates on 31 December 1998. They were set so that one European Currency Unit (ECU) would equal one euro. The European Currency Unit was an accounting unit used by the EU, based on the currencies of the member

title: Euro sign

text: Euro sign The euro sign (€) is the currency sign used for the euro, the official currency of the European Union (EU) and other non-EU countries (Kosovo and Montenegro). The design was presented to the public by the European Commission on 12 December 1996. The international three-letter code (according to ISO standard ISO 4217) for the euro is EUR. In Unicode it is encoded at . In English, the sign precedes the value (for instance, €10, not 10 €, unlike most other European languages). In some style guides, but not others, the euro sign is unspaced. The first letter of

title: Currency symbol

text: Currency symbol A currency symbol is a graphic symbol used as a shorthand for a currency's name, especially in reference to amounts of money. Although several former currency symbols were rendered obsolete by the adoption of the euro, having a new and unique currency symbol implementation of which requires the adoption of new Unicode and type formats has now become a status symbol for international currencies. The European Commission considers the global recognition of the euro sign part of its success. In 2009, India launched a public competition to replace the ₨ ligature it shared with neighbouring countries. It finalised

title: Currency symbol

text: fonts. The original design was also exceptionally wide. These two factors have led to most typefaces employing customized, font-specific versions, usually with reduced width. Currency symbol A currency symbol is a graphic symbol used as a shorthand for a currency's name, especially in reference to amounts of money. Although several former currency symbols were rendered obsolete by the adoption of the euro, having a new and unique currency symbol implementation of which requires the adoption of new Unicode and type formats has now become a status symbol for international currencies. The European Commission considers the global recognition of the euro

title: Currency pair

text: a dot or a dash. A widely traded currency pair is the relation of the euro against the US dollar, designated as EUR/USD. The quotation "EUR/USD 1.2500" means that one euro is exchanged for 1.2500 US dollars. Here, EUR is the base currency and USD is the quote currency(counter currency). This means that 1 Euro can be exchangeable to 1.25 US Dollars. The most traded currency pairs in the world are called the "Majors". They involve the currencies euro, US dollar, Japanese yen, pound sterling, Australian dollar, Canadian dollar, and the Swiss franc. Currency quotations use the abbreviations for currencies

title: Euro sign

text: but the cent sign "¢" also appears. Other abbreviations include "ct" (particularly in Germany and Lithuania), "cent." in Spain and Italy, "snt" (Finland) and Λ (the capital letter "lambda" for λεπτό, "lepto", in Greece). Euro sign The euro sign (€) is the currency sign used for the euro, the official currency of the European Union (EU) and other non-EU countries (Kosovo and Montenegro). The design was presented to the public by the European Commission on 12 December 1996. The international three-letter code (according to ISO standard ISO 4217) for the euro is EUR. In Unicode it is encoded at .

title: Language and the euro

text: and a 50 euro banknote is called ("penintariko"), derivatives of the words for ten, twenty and fifty. 10 lepta of a drachma were called ("dekara"), but since lepta of the drachma were out of circulation long before the euro, this word is now considered too old-fashioned and only used in old expressions and thus it is not used for the 10 eurocent coin. Nevertheless, all Greeks understand the word to stand for 10 cents of any currency and thus use it for non-euro currencies like the dime of the US dollar. The same is true for the 5-cent coin which

title: Euro

text: not eуро ("euro") in all official documents. In the Greek script the term ευρώ (evró) is used; the Greek "cent" coins are denominated in λεπτό/ά (leptó/á). Official practice for English-language EU legislation is to use the words euro and cent as both singular and plural, although the European Commission's Directorate-General for Translation states that the plural forms "euros" and "cents" should be used in English. Euro The euro (sign: €; code: EUR) is the official currency of 19 of member states of the European Union, as well as some of the territories of the EU. This group of states is

title: World currency

text: Currency). Some of the world's currencies are still pegged to the dollar. Some countries, such as Ecuador, El Salvador, and Panama, have gone even further and eliminated their own currency (see dollarization) in favor of the United States dollar. Only two serious challengers to the status of the United States dollar as a world currency have arisen. During the 1980s, the Japanese yen became increasingly used as an international currency, but that usage diminished with the Japanese recession in the 1990s. More recently, the euro has increasingly competed with the United States dollar in international finance. The euro inherited its

title: Euro

text: austerity while France and the United States were relatively strong creditors – gained attention in summer 2012 even as Germany received a debt-rating warning of its own. In the enduring of this scenario the Euro serves as a mean of quantitative primitive accumulation. The euro is the sole currency of 19 EU member states: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. These countries constitute the "eurozone", some 343 million people in total . With all but two of the remaining EU members obliged to join, together

title: Currency pair

text: euro has strengthened, or both. On the other hand, if the EUR/USD (or EURUSD) quote changes from 1.2500 to 1.2490 the euro has become relatively weaker than the dollar. The rules for formulating standard currency pair notations result from accepted priorities attributed to each currency. From its inception in 1999 and as stipulated by the European Central Bank, the euro has first precedence as a base currency. Therefore, all currency pairs involving it should use it as their base, listed first. For example, the US dollar and euro exchange rate is identified as EUR/USD. Although there is no standards-setting body

title: Optimum currency area

text: rationale behind the creation of the euro is that the individual countries of Europe do not each form an optimal currency area, but that Europe as a whole does. The creation of the euro is often cited because it provides the most modern and largest-scale case study of an attempt to identify an optimum currency area, and provides a comparative before-and-after model by which to test the principles of the theory. In theory, an optimal currency area could also be smaller than a country. Some economists have argued that the United States, for example, has some regions that do not

title: Yuan (currency)

text: code for renminbi is CNY, an abbreviation of "Chinese yuan". (A similar case is the use of the terms "sterling" to designate British currency and "pound" for the unit of account.) The symbol for the yuan (元) is also used in Chinese to refer to the currency units of Japan "(yen)" and Korea "(won)", and is used to translate the currency unit "dollar" as well as some other currencies; for example, the United States dollar is called "Meiyuan" () in Chinese, and the euro is called "Ouyuan" (). When used in English in the context of the modern foreign exchange

title: Euro

text: daily by some 343 million Europeans . Outside Europe, a number of overseas territories of EU members also use the euro as their currency. Additionally, 240 million people worldwide use currencies pegged to the euro. The euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar. , with more than €1.2 trillion in circulation, the euro has one of the highest combined values of banknotes and coins in circulation in the world, having surpassed the U.S. dollar. The name "euro" was officially adopted on 16 December 1995

title: Mark (currency)

text: Germany was reunified in 1990. The German mark was replaced by the euro, first as an accounting currency on 1 January 1999, at a conversion rate of 1.95583 marks per euro. Thereafter, the mark-denominated notes and coins represented the euro at that conversion rate, and remained legal tender until 1 January 2002, when they were replaced by euro notes and coins. Germany mints its own German euro coins, but all euro coins are legal tender throughout the Eurozone. The remaining Convertible mark of Bosnia-Herzegovina is a currency that officially replaced the German mark as de facto currency of the ruptured

title: Euro Currency Index

text: was 34.38805726 multiplied by the product of all components in the basket of currencies, that have been raised to a high number of their percentage, weighting equal to: ECX = 34.38805726 x (EURUSD^(0.3155) x EURGBP^(0.3056) x EURJPY^(0.1891) x EURCHF^(0.1113) x EURSEK^(0.0785)) The all-time low was constructed on 6 July 2001, with 83.36 points and the all-time high on July 14, 2008, 123.82 points. On 20 May 2011, the exchange ICE Futures U.S. ended the trading of futures and options on the index. On July 28, 2011, the calculation of the ICE Euro Currency Index was discontinued (last value was 108.88

title: History of the euro

text: official currency. The euro is only used in the government-controlled areas of the Republic, the Sovereign Base Areas of Akrotiri and Dhekelia (under UK jurisdiction, outside the EU) and in the United Nations Buffer Zone in Cyprus. The de facto Turkish Republic of Northern Cyprus continues to use the new Turkish lira as its primary currency and the euro as its secondary currency. Malta replaced the Maltese lira with the euro on 1 January 2008. The aims were officially confirmed on 26 February 2007. On 16 May 2007, the Commissioner for Economic & Financial Affairs of the EU, Joaquín Almunia,

title: Euro banknotes

text: particular country may have been printed in another country. The printers used to print euro banknotes include commercial printers as well as national printers, some of which have been privatised, some previously produced national notes before the adoption of the euro. There is one former or current national printer in each of the countries which issue euro notes, with the exception of Germany, where the former East German and West German printers now produce euro notes. There are also two printers identified in France, F. C. Oberthur, a private printer, and the Bank of France printing works, and also two

title: Reserve currency

text: before the beginning of the worldwide credit crunch related recession and Eurozone crisis, which harmed the euro and slowed its adoption. Since 2009, the reserve currency use of the euro has continued to drop, down to 23.9 percent in 2013. The Dutch guilder was the "de facto" reserve currency in Europe in 17th and 18th centuries. The United Kingdom's pound sterling was the primary reserve currency of much of the world in the 19th century and first half of the 20th century. The emergence of the USA as an economic superpower, and the establishment of the U.S. Federal Reserve System

title: 20 euro note

text: 20 euro note The twenty euro note (€20) is the third-lowest value euro banknote and has been used since the introduction of the euro (in its cash form) in 2002. The note is used in the 23 countries which have it as their sole currency (with 22 legally adopting it); with a population of about 343 million. In August 2018, there were approximately 3,845,000,000 twenty euro banknotes in circulation around the eurozone. It is the second most widely circulated denomination, accounting for over 17% of the total banknotes. Estimates suggest that the average life of a twenty euro banknote is

title: 10 euro note

text: 10 euro note The ten euro note (€10) is the second-lowest value euro banknote and has been used since the introduction of the euro (in its cash form) in 2002. The note is used in the 23 countries which have it as their sole currency (with 22 legally adopting it); with a population of about 343 million. In August 2018, there were approximately 2,500,000,000 ten euro banknotes in circulation around the eurozone. It is the fourth most widely circulated denomination, accounting for over 11% of the total banknotes. Estimates suggest that the average life of a ten euro banknote is

title: 5 euro note

text: 5 euro note The five euro note (€5) is the lowest value euro banknote and has been used since the introduction of the euro (in its cash form) in 2002. The note is used in the 25 countries which have it as their sole currency (with 23 legally adopting it); with a population of about 343 million. In August 2018, there were approximately 1,871,000,000 five euro banknotes in circulation around the eurozone. It is the fifth most widely circulated denomination, accounting for over 8% of the total banknotes. Estimates suggest that the average life of a five euro banknote is

title: Romania and the euro

text: law requires that the coat of arms of the country be used on coin designs. In Romanian, the currency is called "euro" , and its subunit "eurocent" . Romania and the euro Romania is required by its EU accession agreement to replace the current national currency, the Romanian leu, with the euro, as soon as Romania fulfills all of the six nominal euro convergence criteria. The leu is not yet part of the European Exchange Rate Mechanism (ERM II), of which minimum two years of stable membership is one of the six nominal convergence criteria to comply with to qualify

title: History of the euro

text: support the euro in 2001. Later in 2000, Denmark held a referendum on whether to abandon their opt-out from the euro. The referendum resulted in a decision to retain the krone, and also set back plans for a referendum in the UK as a result. The procedure used to fix the irrevocable conversion rate of 340.750 between the Greek drachma and the euro was different, since the euro by then was already two years old. While the conversion rates for the initial eleven currencies were determined only hours before the euro was introduced as a virtual currency, the conversion rate

title: 50 euro note

text: 50 euro note The fifty euro note (€50) is one of the middle value euro banknotes and has been used since the introduction of the euro (in its cash form) in 2002. The note is used by some 343 million Europeans and in the 23 countries which have the euro as their sole currency (with 22 legally adopting it). In August 2018, there were about 10,030,000,000 fifty euro banknotes in circulation in the eurozone. It is by far the most widely circulated denomination, accounting for over 46% of the total banknotes. Estimates suggest that the average life of a fifty

title: European Currency Unit

text: European Currency Unit The European Currency Unit (₠ or ECU, ) was a basket of the currencies of the European Community member states, used as the unit of account of the European Community before being replaced by the euro on 1 January 1999, at parity. The ECU itself replaced the European Unit of Account, also at parity, on 13 March 1979. The European Exchange Rate Mechanism attempted to minimize fluctuations between member state currencies and the ECU. The ECU was also used in some international financial transactions, where its advantage was that securities denominated in ECUs provided investors with the

title: Euro

text: 3.3%. The euro inherited and built on the status of the Deutsche Mark as the second most important reserve currency. The euro remains underweight as a reserve currency in advanced economies while overweight in emerging and developing economies: according to the International Monetary Fund the total of euro held as a reserve in the world at the end of 2008 was equal to $1.1 trillion or €850 billion, with a share of 22% of all currency reserves in advanced economies, but a total of 31% of all currency reserves in emerging and developing economies. The possibility of the euro becoming

title: From What Is Before

text: score of 100% rating based on 5 critics. From What Is Before From What Is Before () is a 2014 Filipino drama film directed by Lav Diaz. The film follows a remote town in the Philippines during the 1970s under the Marcos dictatorship. The film had its world premiere in the Philippines on 3 July 2014, and competed at the 2014 Locarno International Film Festival where it won the main prize, the Golden Leopard. The film also had its North American premiere at the 2014 Toronto International Film Festival, under the Wavelengths section. In addition, the film had its Philippine

title: From What Is Before

text: From What Is Before From What Is Before () is a 2014 Filipino drama film directed by Lav Diaz. The film follows a remote town in the Philippines during the 1970s under the Marcos dictatorship. The film had its world premiere in the Philippines on 3 July 2014, and competed at the 2014 Locarno International Film Festival where it won the main prize, the Golden Leopard. The film also had its North American premiere at the 2014 Toronto International Film Festival, under the Wavelengths section. In addition, the film had its Philippine screening for free at 21 September 2014. The

title: 100 euro note

text: 100 euro note The one hundred euro note (€100) is one of the higher value euro banknotes and has been used since the introduction of the euro (in its cash form) in 2002. The note is used daily by some 343 million Europeans and in the 23 countries which have it as their sole currency (with 22 legally adopting it). In August 2018, there were approximately 2,725,000,000 hundred euro banknotes in circulation in the eurozone. It is the third most widely circulated denomination, accounting for over 12% of the total banknotes. It is the third largest note measuring × and

title: 200 euro note

text: 200 euro note The two hundred euro note (€200) is the second-highest value euro banknote and has been used since the introduction of the euro (in its cash form) in 2002. The note is used in the 23 countries which have the euro as their sole currency (with 22 legally adopting it); with a population of about 343 million. In August 2018, there were about 251,000,000 €200 banknotes in circulation around the eurozone. It is the least widely circulated denomination, accounting for 1.2% of the total banknotes. It is the second-largest note, measuring 153 × 82 mm, and has a

title: Euro

text: only recognised as legal tender within the Order. In economics, an optimum currency area, or region (OCA or OCR), is a geographical region in which it would maximise economic efficiency to have the entire region share a single currency. There are two models, both proposed by Robert Mundell: the stationary expectations model and the international risk sharing model. Mundell himself advocates the international risk sharing model and thus concludes in favour of the euro. However, even before the creation of the single currency, there were concerns over diverging economies. Before the late-2000s recession it was considered unlikely that a state

title: 200 euro note

text: yellow colour scheme. The two hundred euro banknotes depict bridges and arches/doorways in Art Nouveau style (19th and 20th centuries). The €200 note contains several complex security features such as watermarks, invisible ink, holograms and microprinting that document its authenticity. The new banknotes of the Europa series 200 euro banknote will start circulating on 28 May 2019. The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accountancy. Euro cash was not introduced until

title: 100 euro note

text: has a green colour scheme. The hundred euro notes depict bridges and arches/doorways in the Baroque and Rococo style (between the 17th and 18th century). The hundred euro note contains several complex security features such as watermarks, invisible ink, holograms and microprinting that document its authenticity. The new banknotes of the Europa series 100 euro banknote will start circulating on 28 May 2019. The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accountancy.

title: Language and the euro

text: plural). This pronunciation is rejected by official authorities, such as the Swedish Language Council, and not used in television news. In Sweden there are no widespread slang terms since the euro is a foreign currency. In Finland, the euro is the official currency, and Swedish is an official language alongside Finnish. The same spelling as in Sweden is used (officially Swedish in Finland is spelt as in Sweden). The pronunciation, however, is , which has some similarities to Finnish pronunciation. The abbreviation is like 3,14 €, same as for Finnish. Among Swedish-speaking as well as Finnish-speaking people in Helsinki, a

title: Language and the euro

text: currency's name in Hebrew arose. The official name of the currency established by the Academy of the Hebrew Language and the Bank of Israel is derived from An unofficial spelling and pronunciation , derived from the English pronunciation of the currency's name, is also used. Although in Hebrew currency names are usually declined for singular and plural, both forms of the Euro name are used for the singular and plural alike. In Hindi, the euro is spelt as यूरो (Yūro), while cent is written as सेंट (seṇṭ). Both the words are not pluralised. Europe is known as यूरोप (Yūrop) in

title: Language and the euro

text: European currency. Of other national Slavic languages using the Cyrillic alphabet, Macedonian, Russian and Serbian also use the spelling евро. Ukrainian uses євро and Belarusian uses еўра/эўра. In Catalan the official plural is the same as its regular plural "euros". The standard pronunciation of "euro" is . For the cent, the word "cèntim" (, plural "cèntims") is used, since historically this term has been used as the hundredth part of a currency unit. The fraction of the peseta was also called "cèntim", but it was withdrawn from circulation decades ago. In the Cornish language, euro is written "ewro" (like "Ewrop"

title: Currency

text: Several countries can use the same name for their own separate currencies (for example, "dollar" in Australia, Canada and the United States). By contrast, several countries can also use the same currency (for example, the euro or the CFA franc), or one country can declare the currency of another country to be legal tender. For example, Panama and El Salvador have declared US currency to be legal tender, and from 1791 to 1857, Spanish silver coins were legal tender in the United States. At various times countries have either re-stamped foreign coins, or used currency board issuing one note of

title: United Kingdom and the euro

text: United Kingdom and the euro The United Kingdom has never sought to adopt the euro as its official currency for the duration of its membership of the European Union (EU), and secured an opt-out at the euro's creation via the Maastricht Treaty in 1992. Polls have shown that the majority of British people have been against adopting the euro, and in a June 2016 referendum the UK voted to withdraw from the EU which would virtually eliminate the chance of any future adoption. Despite never being a member of the euro, the currency is used in the UK's Cypriot territories

title: World currency

text: or "supercurrency", as the proposed terra or the DEY (acronym for Dollar Euro Yen), produced and supported by a central bank which is used for "all" transactions around the world, regardless of the nationality of the entities (individuals, corporations, governments, or other organizations) involved in the transaction. No such official currency currently exists. Advocates, notably Keynes, of a global currency often argue that such a currency would not suffer from inflation, which, in extreme cases, has had disastrous effects for economies. In addition, many argue that a single global currency would make conducting international business more efficient and would encourage

title: International status and usage of the euro

text: considering making the euro a third official currency of the country to go along with the US dollar and the Balboa. In various countries the euro is accepted by some merchants albeit not being official currency there. Additionally sometimes it is used for pricing purposes even if the actual payments are made in the official currency (e.g., for real estate). The Swedish town of Höganäs has, since 1 January 2009, generally allowed shop payments in euros alongside the Swedish krona. Widespread usage, though unofficial, is also present in towns such as Haparanda, on the border with Finland. The euro is

title: Euro starter kits

text: were sold. Despite not being a member of the European Union, in 1999 Monaco also adopted the euro. This is mainly because Monaco never had its own currency and was using the French one, so when France switched to the euro Monaco had no option but to follow suit. The European Union has a special agreement with Monaco that allows this country to mint a limited number of euro coins. Late in 2001, Monaco issued 51,200 starter kits for the nominal price of €15,25 (100 francs) each; however, today their price on commercial websites is more than €600. The Netherlands

title: Euro coins

text: distinguish it from the 10 and 50 cent coins. Although there have been other currencies predating the euro that were specifically designed in similar ways (different sizes, colours, and ridges) to aid the visually impaired, the introduction of the euro constitutes the first time that authorities have consulted associations representing the blind and visually impaired before the release of a currency. Each state allowed to issue coins may also mint two commemorative coins each year from June 2012. From 2004 to May 2012, countries were only allowed to mint one coin per year. Only €2 coins may be used in

title: Bulgaria and the euro

text: numerals). However, the word stotinki (стотинки), singular stotinka (стотинка), the name of the subunit of the current Bulgarian currency, could be used in place of cent, as it has become a synonym of the word "coins" in colloquial Bulgarian; just like "cent" (from Latin centum), its etymology is from a word meaning hundred – "sto" (сто). Stotinki is used widely in the Bulgarian diaspora in Europe to refer to subunits of currencies other than the Bulgarian lev. Bulgaria and the euro Bulgaria committed to switching its currency, the lev, to the euro upon its joining the European Union in 2007,

title: Euro

text: with future members of the EU, the enlargement of the eurozone is set to continue. Outside the EU, the euro is also the sole currency of Montenegro and Kosovo and several European microstates (Andorra, Monaco, San Marino and the Vatican City) as well as in five overseas territories of EU members that are not themselves part of the EU (Saint Barthélemy, Saint Martin, Saint Pierre and Miquelon, the French Southern and Antarctic Lands and Akrotiri and Dhekelia). Together this direct usage of the euro outside the EU affects nearly 3 million people. The euro has been used as a trading

title: Reserve currency

text: the undisputed reserve currency of the world allows the United States to impose unilateral sanctions against actions performed between other countries, for example the American fine against BNP Paribas for violations of U.S. sanctions that were not laws of France or the other countries involved in the transactions. In 2014 Beijing and Moscow signed a 150 billion yuan central bank liquidity swap line agreement to get around American sanctions on their behaviors. The euro is currently the second most commonly held reserve currency, comprising about a quarter of allocated holdings. After World War II and the rebuilding of the German

title: Currency board

text: the Deutsche Mark from 1992 to 1999 when it switched to fixing to the Euro at par. The peg to the Euro was upheld until January 2011 with Estonia's adoption of the Euro. This policy is seen as a mainstay of that country's subsequent economic success (see Economy of Estonia for a detailed description of the Estonian currency board). Argentina abandoned its currency board in January 2002 after a severe recession. To some, this emphasised the fact that currency boards are not irrevocable, and hence may be abandoned in the face of speculation by foreign exchange traders. However, Argentina's system

title: Denomination (currency)

text: as Polish złoty (“golden”) and Vietnamese đồng (“copper”), or its geographical origin, e.g. Joachimsthaler (see Dollar). Denomination (currency) Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment like gift cards. For example, "five euros" is the denomination of a five euro note. In a currency, there is usually a main unit (base), and a subunit that is a fraction of the main unit. In some countries, there are multiple levels of subunits. In the former Ottoman Empire, 1 lira = 100 kuruş = 4000 para

title: Denomination (currency)

text: Denomination (currency) Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment like gift cards. For example, "five euros" is the denomination of a five euro note. In a currency, there is usually a main unit (base), and a subunit that is a fraction of the main unit. In some countries, there are multiple levels of subunits. In the former Ottoman Empire, 1 lira = 100 kuruş = 4000 para = 12000 akçe. Today, only a few places have more than one subunit, notably the Jordanian

title: Euro starter kits

text: Euro starter kits Euro starter kits are packs of euro coins of all the eight denominations sealed in a plastic bag. The scope of these kits is primarily to familiarise the citizens of a nation that is going to join the eurozone with the new currency, the euro. Another objective is to fill up cash registers well in advance of €-Day. Usually these kits are available from the local banks some weeks before the euro changeover. Mainly there are two types of starter packs: business starter kits and kits for the general public. The difference is in the number of

title: European Currency Unit

text: A common theme on the coins was usually celebrating European unity, such as celebrating membership of the European Union. In 1989, the government of the Netherlands issued a series of ECU coins from ₠2½ to ₠200, which could be spent in shops in The Hague, during the European Capital of Culture festival. Gibraltar issued commemorative coins from 1993 through 1996. European Currency Unit The European Currency Unit (₠ or ECU, ) was a basket of the currencies of the European Community member states, used as the unit of account of the European Community before being replaced by the euro on

title: Slovak euro coins

text: Slovakia planned to transport over €7 billion in banknotes from Austria and to mint coins worth €167 million to pre-stock itself with the new currency. Start-up packages containing the EUR equivalent of 500 Sk (16.60 €) were sold at all post offices from 1 December 2008. The package contained 45 Slovak euro coins with nominal values from 1-cent (0.30 Sk) to 2 euro (60.25 Sk). A few days before the €-day, the government spent €6.5 million to educate the public about the new currency. For images of the common side and a detailed description of the coins, see euro coins.

title: Reserve currency

text: It was "absolutely conceivable that the euro will replace the US dollar as reserve currency, or will be traded as an equally important reserve currency." Econometric analysis by Jeffrey Frankel and Menzie Chinn in 2006 suggested that the euro could replace the U.S. dollar as the major reserve currency by 2020 if either the remaining EU members, including the UK and Denmark, adopted the euro by 2020, or the recent depreciation trend of the dollar persisted into the future. In recent years, the euro's share of the worldwide currency reserve basket has continued to increase—albeit at a slower rate than

title: 500 euro note

text: 500 euro note The five hundred euro note (€500) is the highest-value euro banknote and was produced between the introduction of the euro (in its cash form) in 2002 until 2014. As of 2018, the banknote is still under circulation. It was one of the highest-value circulating banknotes in the world, worth around 620 USD, 3,914 CNY, 66,413 JPY, 584 CHF or 440 GBP. The note is used in the 23 countries which have the euro as their sole currency (with 22 legally adopting it), with a population of about 343 million. Initially, the high denomination notes were introduced very

text: euro exceed dollar reserves for the first time; Russia held 47.5% (up from 42% in 2008) in euro and 41.5% (down from 47%) in dollar leading the Central Bank of Russia to announce the euro had become the reserve currency of Russia. The usage of the euro is particularly strong in eastern Europe, not surprisingly in those that have joined the EU, with 54.8% of all loans in Bulgaria, and 85.2% in Latvia before Eurozone accession, being issued in euro rather than the local currencies. The following table shows central banks allocated reserves in euros and US dollar. A currency

title: Currency pair

text: going short on the pair, if they believe the value of the euro will go down relative to the US dollar. A pair is depicted only one way and never reversed for the purpose of a trade, but a buy or sell function is used at initiation of a trade. Buy a pair if bullish on the first position as compared to the second of the pair; conversely, sell if bearish on the first as compared to the second. Currency pair A currency pair is the quotation of the relative value of a currency unit against the unit of another

title: 500 euro note

text: 26 April 2019. “Authorities increasingly suspect that they (€500 notes) are being used for illegal purposes, an argument that we can no longer ignore,” according to a high-ranking bank official, Benoît Cœuré. The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accountancy. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Luxembourgish franc. Slovenia joined the

title: Maltese euro coins

text: Their face value range from 10 euro to 50 euro. This is mainly done as a legacy of old national practice of minting gold and silver coins. These coins are not intended to be used as means of payment, so they do not circulate. Maltese euro coins Maltese euro coins feature three separate designs for the three series of coins. Malta has been a member of the European Union since 1 May 2004, and is a member of the Economic and Monetary Union of the European Union. Malta adopted the euro as its official currency on 1 January 2008, replacing

title: Euro

text: mostly as a precondition to joining the eurozone. The Bulgarian lev was formerly pegged to the Deutsche Mark; one other EU currency with a direct peg due to ERM II is the Danish krone. In total, , 182 million people in Africa use a currency pegged to the euro, 27 million people outside the eurozone in Europe, and another 545,000 people on Pacific islands. Since 2005, stamps issued by the Sovereign Military Order of Malta have been denominated in euros, although the Order's official currency remains the Maltese scudo. The Maltese scudo itself is pegged to the euro and is

title: Euro

text: in Madrid. The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$1.1743). Physical euro coins and banknotes entered into circulation on 1 January 2002, making it the day-to-day operating currency of its original members, and by March 2002 it had completely replaced the former currencies. While the euro dropped subsequently to US$0.83 within two years (26 October 2000), it has traded above the U.S. dollar since the end of 2002, peaking at US$1.60 on 18 July 2008. In late 2009, the

title: 20 euro note

text: about two years before it is replaced due to wear. It is the third-smallest note, measuring 133 x 72 mm with a blue colour scheme. The twenty euro banknotes depict bridges and arches/doorways in Gothic architecture (between the 13th and 14th century CE). The twenty euro note contains several complex security features such as watermarks, invisible ink, holograms and microprinting that document its authenticity. The full design of the Europa series 20 euro banknote was revealed on 24 February 2015 and launched on 25 November 2015. The euro was founded on 1 January 1999, when it became the currency of

title: 50 euro note

text: became the currency of over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accounting. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the 12 countries in the eurozone, such as the Dutch guilder and the Portuguese escudo. Today, the €50 note is used by some 332 million Europeans and in the 22 countries which have it as their sole currency (with 20 legally adopting it). Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia

title: European Currency Unit

text: opportunity for foreign diversification without reliance on the currency of a single country. The ECU was conceived on 13 March 1979 as an internal accounting unit. It had the ISO 4217 currency code XEU. On 1 January 1999, the euro (with the code EUR and symbol €) replaced the ECU, at the value €1 = 1 ECU. Unlike the ECU, the euro is a real currency, although not all member states participate (for details on euro membership see Eurozone). Two of the countries in the ECU basket of currencies, UK and Denmark, did not join the eurozone, and a third,

title: Language and the euro

text: the same as the unit of measurement of time or of angle. The term , plural ("evroleptó", plural "evroleptá") is sometimes used when a speaker wants to be completely specific that they are referring to money and not time. Some colloquial names for currency are also in use for the euro. One and two euro coins are respectively called ("frago") and ("difrago") from the French "franc". A 5 euro banknote is also colloquially called ("taliro") from the Germanic root "thaler" via the Italian "talero". A 10 euro banknote is called ("dekariko"), a 20 euro banknote is called ("eikosariko") or ("eikosari"),

title: Lithuania and the euro

text: Reserve System." Lithuania and the euro Lithuania is an EU member state which joined the Eurozone by adopting the euro on 1 January 2015. This made it the last of the three Baltic states to adopt the euro, after Estonia (2011) and Latvia (2014). Before then, its currency, the litas, was pegged to the euro at 3.4528 litas to 1 euro. All members of the European Union, except Denmark and the UK, are required by treaty to join the euro once certain economic criteria have been met. The Lithuanian litas participated in ERM II since 28 June 2004, and was

title: Lithuania and the euro

text: Lithuania and the euro Lithuania is an EU member state which joined the Eurozone by adopting the euro on 1 January 2015. This made it the last of the three Baltic states to adopt the euro, after Estonia (2011) and Latvia (2014). Before then, its currency, the litas, was pegged to the euro at 3.4528 litas to 1 euro. All members of the European Union, except Denmark and the UK, are required by treaty to join the euro once certain economic criteria have been met. The Lithuanian litas participated in ERM II since 28 June 2004, and was pegged to

title: Croatia and the euro

text: said at the government session that "some occasional announcements when Croatia will introduce the euro shouldn't be taken seriously. We'll try to make it as soon as possible, but I distance myself from any dates and ask that you don't comment on it. When the country is ready, it will enter the euro area. The criteria are very clear." In November 2017, Prime Minister Andrej Plenkovic said that Croatia is aiming to join ERM-2 by 2020 and to introduce the Euro by 2025. Croatia and the euro Croatia's currency, the kuna, has used the euro (and prior to that one

title: Euro

text: two percent higher on the year, approximately at the same level as it was before the crisis kicked off in 2007. The formal titles of the currency are "euro" for the major unit and "cent" for the minor (one hundredth) unit and for official use in most eurozone languages; according to the ECB, all languages should use the same spelling for the nominative singular. This may contradict normal rules for word formation in some languages, e.g., those where there is no "eu" diphthong. Bulgaria has negotiated an exception; "euro" in the Bulgarian Cyrillic alphabet is spelled as eвро ("evro") and

title: Maltese euro coins

text: Maltese euro coins Maltese euro coins feature three separate designs for the three series of coins. Malta has been a member of the European Union since 1 May 2004, and is a member of the Economic and Monetary Union of the European Union. Malta adopted the euro as its official currency on 1 January 2008, replacing the Maltese lira. For a period of one month until 31 January, there was a dual circulation for Malta where the Euro and Maltese lira were used alongside each other. In 2008, the Monnaie de Paris (Paris Mint) was chosen to mint the coins;

title: Bank of France

text: part in the deliberations on ECB decisions) and implements it in France. It is also the guardian of currency: it prints euro bank notes (it is the largest printer of euro notes) and manages the circulation of bank notes and coins. It also participates in the fight against counterfeit money, by training bank employees, merchants, police, etc. The Bank of France establishes France's balance of payments and manages part of the foreign exchange reserves of the ECB. The Bank of France is responsible for overseeing the French financial sector, through its subsidiary ACPR (Autorité de Contrôle Prudentiel et de Résolution).

title: Euro

text: cheques, electronic transfers, banking, etc.) at midnight on 1 January 1999, when the national currencies of participating countries (the eurozone) ceased to exist independently. Their exchange rates were locked at fixed rates against each other. The euro thus became the successor to the European Currency Unit (ECU). The notes and coins for the old currencies, however, continued to be used as legal tender until new euro notes and coins were introduced on 1 January 2002. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, until 28 February

title: Language and the euro

text: euro-cent is sometimes used in countries (such as Australia, Canada, and the United States) which also have "cent" as a currency subdivision, to distinguish them from their local coin. This usage, though unofficial, is mirrored on the coins themselves, which have the words "EURO" and "CENT" displayed on the common side. In Faroese (and Icelandic) the euro is called evra, a feminine noun derived from the Faroese name of Europe, "Evropa"; this makes Faroese (with Icelandic) one of only two European languages in which the word for the euro is feminine. The plural is formed regularly: evrur. The cents are

title: Single Euro Payments Area

text: charged uniformly to all EEA participants, banks or payment institutions, domestic or foreign. This is relevant for countries which do not use the euro; domestic transfers in euro by consumers are uncommon, and inflated fees might be charged. Sweden and Denmark have legislated that euro transfers shall be charged the same as transfers in their own currency; which has the effect of giving free euro ATM withdrawals, but charges for ATM withdrawals in other currencies used in the EU. In regulation (EC) 924/2009 (the Cross-border Payments Regulation), the European Parliament mandated that charges in respect of cross-border payments in euro

title: Ireland 1996 25 euro coin

text: Ireland 1996 25 euro coin A 25 euro coin was struck in 1996 to show what an Irish euro coin could have looked like. As this coin is a private pattern coin, it has never had a legal tender status. It was minted by the International Currency Bureau. The obverse showed a harp with the denomination below it and 12 stars within a border and the inscription '25 EURO'. The reverse showed a squirrel on a paper disc with the country name above and the date below in a border and the inscription 'ÉIRE 1996' - Ireland 1996. The edge

title: 1 euro coin

text: that have not yet adopted the euro, some of them have already agreed upon their coin designs; however, it is not know exactly when they will adopt the currency, and hence these are not yet minted. See enlargement of the Eurozone for expected entry dates of these countries. One-euro coins have been produced every year in Belgium, Finland, France, the Netherlands and Spain. In Austria, Germany, Greece, Ireland, Luxemburg, Portugal, San Marino and the Vatican City no €1 coins were minted dated 1999, 2000 and 2001. In Monaco, no €1 coins were minted in 1999, 2000, 2005, 2008 and 2010.

title: Euro gold and silver commemorative coins (France)

text: that 5-euro and 15-euro coins will be available in silver while the 100-euro coin will be in gold. Interesting enough, a further limited set of gold and silver coins will be issued by 2010, with the highest value a gold 500-euro coin was also recently announce by the French Mint. Euro gold and silver commemorative coins (France) France has a rich selection of Gold and Silver commemorative coins. These coins are minted by Monnaie de Paris, which is a state owned industrial and commercial company. Monnaie de Paris has a distinctive different mark (the horn of plenty) guaranteeing "Monnaie de

title: Khaleeji (currency)

text: US Dollar and the Euro. Saudi Arabia rejected calls for the International Monetary Fund SDR to be used as a reserve currency. It was provisionally agreed on May 5, 2009, at the GCC consultative summit held at the Daraeya Palace in Riyadh, that Riyadh, Saudi Arabia, will host the Gulf Central Bank for this common currency. The UAE did not agree with this decision and criticized the fact that the large majority of GCC institutions were headquartered in Saudi Arabia. The UAE later withdrew interest in a GCC common currency and completely rejected being a part of it anymore. Later,

title: Reserve currency

text: of all currency reserves. Analysts said this resurgence was caused by carry-trade investors considering the pound as a stable high-yield proxy to the euro, and by the position of London in world financial affairs. Japan's yen is part of the International Monetary Fund's (IMF) special drawing rights (SDR) valuation. The SDR currency value is determined daily by the IMF, based on the exchange rates of the currencies making up the basket, as quoted at noon at the London market. The valuation basket is reviewed and adjusted every five years. The SDR Values and yen conversion for government procurement are used

title: Currency substitution

text: financial assets denominated in a foreign currency. It can also occur as a gradual conversion to full currency substitution, for example, Argentina and Peru were both in the process of converting to the U.S. dollar during the 1990s. "Dollarization", when referring to currency substitution, does not necessarily involve use of the United States dollar. The currencies that have been used as substitutes have been the US dollar, the euro, and the Australian dollar. After the gold standard was abandoned at the outbreak of World War I and the Bretton Woods Conference following World War II, some countries sought exchange rate

title: Currency board

text: Currency board A currency board is a monetary authority which is required to maintain a fixed exchange rate with a foreign currency. This policy objective requires the conventional objectives of a central bank to be subordinated to the exchange rate target. The main qualities of an orthodox currency board are: The currency board in question will no longer issue fiat money but instead will only issue one unit of local currency for each unit (or decided amount) of foreign currency it has in its vault (often a hard currency such as the U.S. dollar or the euro). The surplus on

title: Euro sign

text: setups often produced errors. One example is a content management system where articles are stored in a database using a different character set than the editor's computer. Another is legacy software which could only handle older encodings such as ISO 8859-1 that contained no euro sign at all. In such situations, character set conversions had to be made, often introducing conversion errors such as a question mark (?) being displayed instead of a euro sign. Care has been taken to avoid replacing an existing obsolete currency sign with the euro sign. That could create different currency signs for sender and

title: Latvian euro coins

text: this special naming convention, but declined on 13 November 2012 and asked Latvia to repeal either the entire regulation or at least the paragraph that granted the euro currency a special Latvian name. On 4 March 2013, the Latvian Ministry of Justice clarified that while the official name of the currency for all financial and legal documents shall be "euro", the public will continue to be able to use the Latvian name "eiro", furthermore it is required to write "euro" in italics indicating the word is in a foreign language. Latvian euro coins feature three separate designs on the national