Euro

The euro is the common currency used by 20 European Union countries and several other European states. It is divided into 100 cents and managed by the Eurosystem.

European Central Bank: The European Union institution responsible for monetary policy in the euro area and maintaining price stability. It sets euro-area monetary policy and issues euro banknotes.
Werner Report: A 1970 plan proposing that the European Economic Community move toward economic and monetary union. It set out an early blueprint for a shared European currency.
Euro banknotes: The paper money denominated in euros and issued within the Eurosystem. They provide the shared physical currency used across the euro area.
European sovereign debt crisis: A 2009–2012 crisis in which several euro-area governments faced severe borrowing and refinancing pressures. It exposed strains created by a shared currency without unified national budgets.
Eurosystem: The European Central Bank and the national central banks of countries that use the euro. Together, these central banks carry out monetary policy and currency operations for the euro area.
European Monetary System: A 1979 arrangement that coordinated exchange rates among participating European currencies. It developed monetary cooperation that preceded the euro.
Euro coins: Coins denominated in euros, with a common European side and a national design side. Their shared denominations circulate alongside country-specific designs.
Opt-out in European Union law: A formal exemption allowing a European Union member state not to participate in a particular area of EU policy. Denmark’s euro opt-out contrasts with the adoption commitments of most EU members.
Eurozone: The group of European Union countries that have adopted the euro as their currency. Its members share the euro and participate in the common monetary policy.
Maastricht Treaty: The 1992 treaty that established the European Union and laid the foundations for economic and monetary union. It committed participating states to a path toward adopting the euro.

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