Poll: Has the Euro Been a Success?
On June 1, 1998, the European Central Bank was formed with only six months to prepare for the unprecedented mission of launching a new currency to replace the sovereign coins and notes of its members, and devise a monetary policy for the budding union.
The 15 Member States of the European Union that use the euro are: Belgium; Germany; Ireland; Greece; Spain; France; Italy; Cyprus; Luxembourg; Malta; The Netherlands; Austria; Portugal; Slovenia and Finland.
Many of these countries have protested the bank's tough stance since the introduction of the currency, in the face of the ECB's primary objective of price stability, but from when the euro hit European wallets in 2002 it has made a steady march higher against the dollar, gaining nearly 70 cents to date.
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