Euro Celebrates 27th Anniversary
The currency officially came into effect on Jan. 1, 1999, and began being used for daily transactions after a transitional period lasting three years. Euro banknotes and coins were introduced on Jan. 1, 2002, replacing the previous currencies in the participating countries.
At present, the euro is the official tender in Austria, Belgium, Bulgaria, Croatia, Estonia, Finland, France, Germany, Greece, the Greek Administration, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.
According to news agency, the European Commission, the European Central Bank (ECB), and EU finance ministers concluded that Bulgaria was finally ready to adopt the euro at the start of the new year.
Bulgaria, which joined the EU in 2007, entered the eurozone on Jan. 1, officially embracing the currency on New Year’s Day.
Countries in the EU that utilize the euro as their primary currency form the eurozone. The monetary policy for eurozone nations is coordinated by the Eurosystem, composed of the ECB and the central banks of its member states.
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