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 Replies: 9 / Views: 1,246 |
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Pillar of the Community
United States
749 Posts |
What countries now use the Euro?
When did they change over and why did they decide on doing so?
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Pillar of the Community
Germany
1238 Posts |
The current euro countries are: Austria (since 1999), Belgium (1999), Cyprus (2008) Finland (1999), France (1999), Germany (1999), Greece (2001), Ireland (1999), Italy (1999), Luxembourg (1999), Malta (2008), Netherlands (1999), Portugal (1999), Slovenia (2007), Spain (1999). The year refers to when the country introduced the euro (always January 1); note that the euro cash was not issued until late 2001 and did not become legal tender until Jan-2002.
Then there are Monaco, San Marino and the Vatican which have monetary agreements with the EU and can issue euro coins. The euro is also used in Andorra, Montenegro and a few other countries/areas. Slovakia is likely to join next year.
In 1970 the EU (back then the EEC) presented the first plan for a currency union - apparently a little to ambitious back then. So we had the European Currency Unit for a couple of years, a setup much like the current Exchange Rate Mechanism. The Maastricht Treaty (1991/92) which established the European Union was also the fundament for the currency union. Since Denmark and the UK would have blocked the Treaty due to the common currency issue, they were given the option to not participate.
All countries that joined "after Maastricht" are theoretically obliged to join the euro area once they meet the convergence criteria. The Swedish example, and the previous Polish government's attitude, have shown that there are of course ways to stay out if a country does not want to join. Not a problem, as the EU will most probably always have more than one currency ...
Christian
Edited by chrisild
04/04/2008 8:01 pm
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Pillar of the Community
Australia
2830 Posts |
G'day, it's been done before. Napoleon Bonaparte, a.k.a. Emperor Napoleon I, established a parity between the currencies of France, Italy, & others. Even after the Empire was long gone, the principle remain undisturbed under title "Latin Monetary Union", which was adopted my most European and some other countries. This persisted right up to WW1.
The cornerstone of the system was a 20-Franc coin, weighing 6.45 grams, called a "Napoleon".
Peter in Oz
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Valued Member
France
285 Posts |
small correction, in France the conversion of Franc to Euro was decided in 1999 (1 euro = 6.55957 Francs) but currency in circulation 1st january 2002.
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Pillar of the Community
Germany
1238 Posts |
The final conversion rates for all founding members of the currency union were fixed on the day before the euro was introduced; since that day (1 January 1999) all participating currencies have been non-decimal sub-units of the euro so to say. All stock markets in the currency union have been euro based since Jan-99, for example, and back then I already had the option to make non-cash payments (checks, transfers) in euro. Did initially not use it much though ... So basically you have had the euro since 1999 too. But sure, as I wrote in my previous post, it took a while until we started using the € cash. After all, the printers and mints had to make it first.  Now the member states that have joined the currency union in the past few years - Slovenia, Cyprus, Malta - did not have such long changeover periods. They preferred the "big bang" model, and Slovakia plans to do that too. Christian |
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Valued Member
Italy
244 Posts |
just few additional details about years printed on euro coins:
all 12+3 small starting countries had the choice to print on the coins the same year when they were minting coins or the first year of euro was in circulation, and they decided:
Spain, France, Finland, Belgium, Netherland to start w/ 1999
Monaco to start w/ 2001
Austria, Germany, Italy, Portugal, Ireland, Vaticano, San Marino, Greece, Luxemburg to start w/ 2002
all the next they don't have a choice, they can just use the first year they are using euro.
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Pillar of the Community
Australia
853 Posts |
There are now over 1500 euro coins to collect if you collect all the unc 1c to 2euro coins for each country, each mint mark and each year.
Anyone have a cheap vatican 2002 or 2005 mint set of a 2007 Monarco 2 euro comemorative. These are the only 17 coins I am missing from my set up to 2007.
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Valued Member
Italy
244 Posts |
Hi Bigfella,
about mint sets you are mentioning the chepeast on the coin market here in Italy is Vatican 2005, it should be available around 100 euros, while 2002 around 500 euros and Monaco 2 € CC around 450 euros, this one I'm also missing.
Bye, Antonio.
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Pillar of the Community
Germany
1238 Posts |
As for the 2005 sets, it depends on which one you want: The regular set (John Paul II) has a somewhat higher mintage, and is somewhat less expensive, than the Sede Vacante set (85,000 vs 60,000). By the way, newly issued Vatican sets may be affordable even for those who can/do not buy them from the UFN. The mintage of the FDC/BU version used to be 65,000 in 2002 and 2003, then went up to 85,000 - and this year's FDC set has a mintage of 91,400 ...
Christian
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Pillar of the Community
Australia
853 Posts |
Yes Antonio...talking some big $$$$....what makes it hard is I rely on swaps to complete my collection...though I now have been accepted by UFN for vatican unc sets and coins.
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Replies: 9 / Views: 1,246 |
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Posted 04/05/2008 02:24 am
