Single European Currency Day (Euro Day)

Every year on January 1, residents of the European Union celebrate Euro Day, the unified monetary unit of the association that came into circulation at the beginning of the 3rd millennium It is used daily by 334 million Europeans living in 16 countries, including the Republics of Cyprus and Malta The League of Nations first discussed a proposal to introduce a single European currency in 1929 In accordance with the rules, she developed a step-by-step plan In the late 1960s, the European Economic Community again began discussing a type of currency that would suit all European countries In 1979, several countries adopted the European Monetary System (EMS) Exchange rates were fixed on the European Currency Unit (abbr ECU) In 1988, France, Italy and the European Commission supported a monetary union with a central bank British Prime Minister Margaret Thatcher spoke out against this proposal Despite the lack of support from the United Kingdom, the creation of a single currency for European countries moved forward in 1992 Three years later, the European Council approved the name of the monetary unit - “euro” At midnight on January 1, 1999, it was introduced into non-cash circulation Europeans saw the new banknotes and coins “live” on January 1, 2002 Since then they have celebrated Euro Day every year The designs for the banknotes of the first series were invented by the Austrian Robert Kalina, who won an international European competition They are identical in all eurozone countries The banknotes depict elements of architectural structures from different eras Many Europeans are happy that they have their own currency One way to celebrate the holiday is to spend your accumulated euros But if you don't feel like doing this, spend your day usefully: • Familiarize yourself with the history of currency, which plays an important role throughout the world • Take an interest in other types of monetary units, find out how long ago they have been used and by which countries • Read how currency is prepared for issue and distribution Euro Day is a good reason to learn more about the countries of the European Union Although they all share the same currency, each has its own unique customs, history and culture Share your knowledge with social media users using the hashtag #EuroDay