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The Euro is the official currency of 19 of the 28 countries of the European Union. The Euro was introduced by the EU into the financial community in 1999, and in 2002 monetary coins and paper notes were introduced. The Euro is printed and managed by the European System of Central Banks (ESCB).

The Euro is the national currency of the EU member states that have adopted it, including Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain. Together these countries create what is called Eurozone – a region in which the Euro serves as a common national currency for all countries.

This has important advantages, such as eliminating currency risk from enterprises and financial institutions operating in an increasingly globalization economy. On the other hand, critics of the Eurosystem argue that it has negative consequences, such as the concentration of the monetary policy of the European Central Bank. This eliminates the ability of EU member states to implement monetary policy by blocking them in the monetary policy of the Eurozone, although local monetary conditions may differ significantly from the entire Eurozone.

One of the criticisms of the Euro is that the currency, whose value is closely linked to the German economy, suffers, and other small states that are at different stages of their economic cycle. For example, if the German economy is booming, the Euro is likely to be high. However, if another country, such as Spain, is experiencing an economic downturn, it may use some relief with a weaker currency, and in the Euro regime this is often not the case.

The Euro is the second most traded currency behind the US Dollar.

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