Converting to the euro

The Treaty lays out the procedures and timing for deciding on a conversion rate from a national currency to the euro. How the conversion rate is applied is also of great importance to make sure people have trust in the new, single currency, and to ensure the continuity of contracts and other legal instruments.

ERM II – the EU's Exchange Rate Mechanism

The Exchange Rate Mechanism (ERM II) was set up on 1 January 1999 as a successor to ERM to ensure that exchange rate fluctuations between the euro...