what happened when the euro was introduced
The name euro was officially adopted on 16 December 1995. 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).ince late 2009, the euro has been immersed in the European sovereign-debt crisis which has led to the creation of the European Financial Stability Facility as well as other reforms aimed at stabilising the currency.
Use of the euro. The euro was launched on 1 January 1999, when it became the currency of more than 300 million people in Europe.For the first three years it was an invisible currency, only used for accounting purposes, e.g. in electronic payments.Euro cash was not introduced until 1 January 2002, when it replaced, at fixed conversion rates, the banknotes and coins of the national currencies like the Belgian franc and the Deutsche Mark.oday, euro banknotes and coins are legal tender in 19 of the 28 Member States of the European Union, including the overseas departments, territories and islands which are either part of, or associated with, euro area countries. These countries form the euro area.