WORLD HISTORY

Detailed explanation-1: -The euro is the monetary unit and currency of the European Union, represented by the symbol €. It began as a noncash monetary unit in 1999 before being issued as currency notes and coins in 2002. The euro replaced the national currencies of participating EU states and some non-EU states.

Detailed explanation-2: -Currently, the euro (€) is the official currency of 20 out of 27 EU member countries which together constitute the Eurozone, officially called the euro area.

Detailed explanation-3: -In 2002, the euro, a single European currency, was adopted by 12 member states. Currently, the Eurozone has 20 member states.

Detailed explanation-4: -A single currency makes the euro zone a more attractive region for non-EU countries to do business with, thus promoting trade and investment. Prudent economic management makes the euro an attractive reserve currency for non-EU countries and gives the euro zone a more powerful voice in the global economy.