Celebrating the euro's first decade
It is now ten years since the EU's momentous decision to launch a single currency, the euro, by setting up what is known as Economic and Monetary Union (EMU).
Today, the euro is the single currency of 15 EU Member States where 320 million citizens use it in their everyday business. Nine other countries use it as their effective currency. In addition to making foreign trade and travel easier, it is one of the world's most stable currencies, with low interest rates and inflation. The size and strength of the euro area also better protects it from external economic shocks, such as unexpected oil price rises. But it is not all about economics. The euro also gives EU citizens a tangible symbol of their European identity
Since its launch, the euro area has grown to encompass several new members and others are preparing to join. This is a clear sign of the attractiveness and success of the euro.