Euro

Euro - the currency of the global circulationThe sign of the Euro currency - €, the international designation of the system - EUR. Officially, it is recognized as the currency in circulation in Ireland, Slovenia, Slovakia, Finland, Italy, Greece, Cyprus, Malta, Luxembourg, Portugal, Germany, Austria, the Netherlands, France, Belgium and Spain. In the nine states of the world it is used along with the state currency in free circulation.Since the currency itself is extremely popular, the stabilization fund and the euro money in the world is about 700milliardov currency, which makes a very stable currency, a means of payment, especially against the dollar.History of the Euro currency is surprising and rather short. Only in 1999 the world learned the calculated solid bill as an exchange of units. In 2002 there were outstanding not only paper money, coins and small change and small bills.Euro as currency, small coin drove out of the world the potential of ECU since 1979. For 20 years, the euro is only for intra-and inter-state calculations, about as large denomination bank notes are dollar bills are for calculations at the Fed.Currency of the Euro at this stage is controlled and is emitted by several banks of all EU member states. For each country, the image of currency - a special "talking". Designations on the bills you can understand where the currency was issued. Moreover, all euro denominations are equal and can be used in any state of the world where the currency is the Euro is in use.The central bank system is in Frankfurt, from which emanate all directives concerning the policy of the euro issue. It also made all the changes and upheavals associated with the currency. This is what the bank is entitled to change the monetary policy associated with Euro.Many countries in connection with an unprecedented increase in popularity of the euro tend to enter the euro zone, but that monetary policy must satisfy the conditions of the allied states, and the directives of the central bank.At the moment there is virtually no state of the world where the euro currency would not have been walking. Countries participating in the EU recognize the Euro as official currency, and yet not so long ago about this unique bank notes did not know anyone and anything. Where did that all the monetary unit?In 1957 among the countries of Belgium, the Netherlands, France, and Germany, and Italy, and Luxembourg signed an agreement on entry into the EEC area, and all governments have joined forces to create a zone of free enterprise and co-ordinated plans for implementation of the common monetary policy in Europe.Just then there was the first idea of ​​the "currency snake" that is, the regulator of economic change, release rates of exchange. In 1962 this idea have paid a huge amount of time, but in 1972 came the next stage of the economic crisis, and the image of a world currency is temporarily melted away in the haze of events. While a correction in oil prices in 1979, the bank signed an agreement on limiting exchange rate fluctuations. There was the first international currency ECU. In 1992 an agreement was signed Masstrihtsky, which was based on dogma and financial foundations of a future unified European community. The purpose of signing the contract, and served as the issuance of a single, accessible to all countries participating currencies. It also specified the uniform interest rate, currency corridor, and was first discussed by the type species of banknotes.Log into the EU was difficult for several reasons. First, the financial way of life of the country had to meet strict criteria for the stability of a single backup system state. Public debt of the country to be extremely low, the budget deficit must not exceed the notional point in 3 percent of GDP. Interest rates on loans should not be higher for more than two per cent from that of the three most stable countries.In 1992 he founded the first analytical financial institution that dealt with problems of predictions about global currency.The official currency in circulation was adopted in 1995. And finally, in 1997, was conducted worldwide design competition to create a sample of bank notes. The images were presented at the Euro multivariate sketches, but it got the approval of Robert Kalina - designer and banker in Austria. It was he who suggested to display on the monuments of European currencies, as well as used as a generic character all the intuitive images of windows and arches, as well as metaphorical bridges, as the binding element of the participating countries. Interestingly in this case that the tender for the supply of metal for coinage has won China's Luoyang Copper Plant.Since 1998, the official euro area housed no more than six states, but the desire for global unity government showed many countries. First, Greece is not allowed to enter the EU, Denmark is not passed on indicators of the constitutional order.Britain Sweden, too, have not accepted into the zone of "comfort", but only on their own volition. In 1998 was established the first European Central Bank (ECB) in Frankfurt am Main.Since 1999, became the official currency of cash in the world. From that moment were fixed rigid exchange rates of participating countries against the euro. In 2001 Greece joined the EU.Since 2002, all countries have the EU Union withdraw from circulation the national currency. Within six months the whole currency than the Euro in the EU was illegal.In 2007 joined the EU, Cyprus and Malta, and in 2008 - Slovakia.It is interesting that the images have been approved by the Euro in many countries, not even going to get into the zone of the EU. A Euro symbol was associated with an allegorical image across Europe.Itself consists of one hundred euro cents, which are sometimes (and also officially) called cents. Interestingly in this case that, although there are denominations in circulation and a two-cent coins, the euro area, many shops prefer to build a pricing policy in a way that was not to use "cents" that is, prices are rounded up to + -0.05 euros.At this stage in the currency issued banknotes in denominations of 500, 200, 100, 50, 20, 10 and 5 euros. The Central Bank of plans to produce Euro 2010 with a high degree of protection, though, and so at this point in time the currency is protected by all known and unknown ways fraudsters, so that the euro counterfeits in the world is very small. Images of the euro is also planning to change by the end of 2010 - is just now developing a new design. Since the euro plan to enter several other states, the denomination of bills will include an additional number of images according to the monuments of culture of the community. Currently it is estimated that in circulation is 11 billion euro banknotes with a total nominal value of 637 billion. This entire amount will be withdrawn and replaced by new banknotes.