the euro

             2) CREATION OF THE EUROPEAN MONETARY UNION
             5) THE STRUCTURE OF THE ECB AND ESCB
             7) HOW DOES IT AFFECT THE UNITED STATES?
             8) THE CURRENT SITUATION AND FUTURE OF THE EURO
             On January 1, 1999 the eleven countries that make up the European
             Monetary Union (EMU) officially adopted the Euro as the single currency for the
             economic region. Currently the participating countries of the EMU are Germany,
             France, Belgium, Luxembourg, the Netherlands, Finland, Austria, Spain,
             Portugal, Italy and Ireland. The United Kingdom, Denmark, Sweden, and Greece
             have not yet joined the EMU, but they are still part of the European Union (EU).
             Greece did no meet the requirements to become a member of the EMU and the
             UK, Denmark and Sweden chose not to join, yet.
             January 4, 1999 marked the actual first working day and thus the eleven
             countries were permanently linked to the Euro and each other. The Euro, whose
             symbol is €, entered the market on that first day at the value of $1.186 U.S.
             dollars and steadily depreciated to $1.03 in early June of 1999. This depreciation
             came to a surprise to those who thought that the Euro may hold strong against
             the dollar, but that was not the case. Some believe that part of the reason is due
             to the strength of the U.S. economy.
             It hasn't been since the fall of the Roman Empire since much of Western
             Europe has had a single currency. The idea of a single currency for Europe isn't
             new. Since the end of World War II the idea of a single European Currency
             surfaced. French Leaders Jean Monnet and Robert Schuman agreed that
             European economic integration was a key of embracing Germany and keeping
             them oriented towards the ways of the west. German political leaders such as
             Konrad Adenauer, Helmut Kohl, and Gerhard Schroeder have backed the
             integration along with the French, though almost entirely through economic and
             Although the Euro has officially b...

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