WORLD HISTORY

Detailed explanation-1: -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-2: -EMU involves coordinating economic and fiscal policies, a common monetary policy, and a common currency, the euro.

Detailed explanation-3: -European Union – Economy Euro is used as the common currency in the Eurozone. Euro is the 2nd most traded currency in the world.

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.

Detailed explanation-5: -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.