The Euro

By: Robby Wiens

FTS Money

October 30, 2004

The Beginning

In 1946 Winston Churchill suggested the creation of The United States of Europe.

Process of creating the Euro got its real start in 1989 when the Delors Report was published by Jacques Delors, president of the European Commission.

The Euro Begins

On January 1, 1999 the Euro became the official currency of the EU but it co-existed with the countries national currencies also.In 2001 Greece joined the EU.The Euro Currency was introduced on January 1, 2002 to replace the national currency completely.On that date things bought with national currency were given Euro change and ATM’s and banks also changed over to strictly Euro.

Euro Users

Monaco, Vatican City, San Marino, Andorra, Kosovo, and Montenegro also use the Euro.

                                                                              

                                                              

Euro Designing

Now they had to decide on a design for the new currency that all 12 of the countries would agree with.

The European Commission (EC) was given the task of designing the Euro.

Designing The Euro

The EC decided that the design had to accomplish three things:

Had to be easily recognized.

Had to be easily written by hand.

It had to be pleasing to look at.

The EC limited it down to 10 drawings and the public voted for which one they liked the best and the design that won was…

Euro Design

The design is based on the Greek letter epsilon.

They also incorporated the “E” from “Europe” in the design.

The two lines through the “C” represent stability.

Bank Note Designs

There are seven euro bank notes. (500’s, 200’s, 100’s, 50’s, 20’s, 10’s, and 5’s)They decided the designs by having another contest.The Contestants/Designers were nominated by the national central banks.The Designs were supposed to be based on the theme of “Ages and Styles of Europe” or an abstract modern theme.

Euro Bank Notes

Robert Kalina of the Oesterreichische National Bank won the competition.The seven bank notes are printed in different sizes and shapes for easier ID.

                                                                                                                                                                                                                                                                                                                                                                                                                                                             

Euro Bank Notes

Back sides of the bills:

                                                                        

                                                           

Euro Coins

There are 8 Euro coins ranging from 1 cent to 2 Euros.

The Coins vary in size and thickness according to their value for easier ID.

Believe it or not, they had another contest for the design of the 8 coins and the winner is…

Euro Coins

Luc Luycx, of the Royal Belgium Mint.On the front side the design features one of three maps of Europe surrounded by the 12 stars representing the European Union countries.On the back side there is designs specific to each country also with 12 stars.

The Coins

                                                                                                                                                                                                                                                                                                                                                        

Euro Coins

The 2 Euro coin weighs 8.5 grams. Which is about the weight of a quarter and a penny.

Here is what the country specific backsides look like for the 2 Euro coin:

                        

                        

                        

                        

                        

                        

                       

                       

                        

                        

                        

                        

Euro Today

Today the Euro is still going strong and other nations are thinking about joining the European Union.