POST COLD WAR WORLD
INTEGRATION OF EUROPE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lira
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Pound
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Dollar
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Mark
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Detailed explanation-1: -The name euro was officially adopted on 16 December 1995 in Madrid. 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).
Detailed explanation-2: -The eurozone was born with its first 11 Member States on 1 January 1999.
Detailed explanation-3: -After a decade of preparations, the euro was launched on 1 January 1999: for the first three years it was an ‘invisible’ currency, only used for accounting purposes and electronic payments. Coins and banknotes were launched on 1 January 2002, and in 12 EU countries the biggest cash changeover in history took place.
Detailed explanation-4: -On Jan. 1, 1999, the European Union introduced its new currency, the euro. 1 The euro was created to promote growth, stability, and economic integration in Europe. Originally, the euro was an overarching currency used for exchange between countries within the union.