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What is the ECU? The history of the Euro and the countries using the Euro!

by Financial Economy

Euro is among the currencies that came into our lives with the 21st century. However, the emergence of the Euro has been based on a while ago. In 1995, the name “Euro” was agreed upon in line with the goal of developing a common currency in the European Union Countries. The euro was officially adopted on 16 December 1995. The introduction of the euro to the world public opinion as a unit of account took place in 1999. Detailed information about the ECU and Euro is in the rest of the article. You can browse here for Malaysian currency.

What is the ECU and EMS?

EMS stands for European Monetary System. ECU is a term created from the initials of (European Currency Unit). It is the currency used and accepted in the European Monetary System (EMS). It was used for many years before the euro. ECU; It can be converted as a European Currency Unit. Between 1979 and 1999, it represents the common currency of Europe before the euro. On the other hand, European Monetary Cooperation Fund; He served as a Central Bank in the European Monetary System. Today, the European Monetary Cooperation Fund has become the European Central Bank.

What are the countries using the Euro?

Countries using the euro can be evaluated under two headings as the countries using the euro in the euro area and the countries using euro even though they are not a European Union country.

Euro Zone Countries

  • Germany
  • Austria
  • Belgium
  • Estonia
  • Finland
  • France
  • Netherlands
  • Ireland
  • Spain
  • Italy
  • Republic of Cyprus
  • Latvia
  • Lithuania
  • Luxembourg
  • Malta
  • Portugal
  • Slovakia
  • Slovenia
  • Greece

Apart from these countries, there are countries that accept and use the Euro as an official currency although there is no European Union country. Although Andorra, San Marino, Monaco and Vatican are not members of the European Union, they use the Euro within the framework of the treaties. Montenegro, Zimbabwe and Kosovo use the euro without any agreement.

For details: https://en.wikipedia.org/wiki/European_Currency_Unit

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