Euro
| euro | |
|---|---|
| ISO 4217 | |
| Code | EUR (numeric: 978) |
| Subunit | 0.01 |
| Unit | |
| Unit | euro |
| Plural | euros |
| Symbol | € |
| Denominations | |
| Subunit | |
| 1/100 | cent |
| Plural | |
| cent | cents |
| Banknotes | |
| Freq. used | €5, €10, €20, €50, €100 and €200 |
| Rarely used | €500 |
| Coins | |
| Freq. used | 1, 2, 5, 10, 20 and 50 cent; €1 and €2 |
| Demographics | |
| Date of introduction | 1 January 1999 |
| User(s) | Euro area |
| Issuance | |
| Central bank | European Central Bank |
The euro is the official currency of the euro area. Its symbol is € and its ISO 4217 code is EUR. The euro is divided into 100 cents and is issued through the monetary system of the European Central Bank and the national central banks of the euro area states.
The currency is used for cash payments, electronic payments, bank accounts, wages, public budgets, contracts, trade, tourism, taxation, and financial reporting across the euro area. It is the official currency of countries including France, Italy, Greece, and other European states that adopted it through the European Union monetary framework.
History
[edit | edit source]The euro was introduced on 1 January 1999 as a non-cash currency. It was used for accounting, electronic payments, financial markets, and official monetary purposes. During this period, the former national currencies of the first participating states remained in physical circulation, while their exchange rates against the euro were fixed.
Euro banknotes and coins entered circulation on 1 January 2002. They replaced the former national cash currencies of the participating states after the cash changeover. The euro then became the everyday currency used by households, businesses, banks, public offices, and transport systems in the euro area.
The euro area expanded after its original introduction. Greece joined in 2001. Later accessions included Slovenia, Cyprus, Malta, Slovakia, Estonia, Latvia, Lithuania, Croatia, and Bulgaria. Bulgaria adopted the euro on 1 January 2026 and became the twenty-first European Union member state using the currency.
Structure
[edit | edit source]The euro is divided into 100 cents. Euro coins are issued in eight denominations: 1, 2, 5, 10, 20 and 50 cent, €1, and €2. Each coin has a common European side and a national side showing the issuing country. A euro coin issued by one euro area country is valid throughout the euro area.
Euro banknotes are issued in €5, €10, €20, €50, €100, €200, and €500 denominations. The €500 banknote is no longer issued, but existing notes remain legal tender and keep their value. The denominations used most often in daily circulation are the lower and middle-value banknotes.
Issuance
[edit | edit source]The European Central Bank manages monetary policy for the euro area through the Eurosystem. The Eurosystem consists of the European Central Bank and the national central banks of the euro area states.
Euro banknotes are issued by the European Central Bank and the national central banks. Euro coins are issued by the euro area states, while the European Central Bank approves the volume and value of coins issued each year. This gives the currency one shared monetary system while allowing national coin designs.
Use
[edit | edit source]The euro is the standard currency for ordinary payments and public accounting in the euro area. It is used in retail prices, salaries, tax records, banking systems, government budgets, company accounts, transport fares, invoices, and international trade inside the participating states.
In France, Italy, and Greece, the euro replaced the former national currencies and became the legal currency for state administration, private business, and household spending. It also serves as the reference currency for many European contracts and financial records.
Relation to Tanoan records
[edit | edit source]The euro appears in some records connected to the Tanoa Einsatzgruppen as an external reference currency. It was used in European invoices, foreign payment references, procurement documents, and comparative financial records.
Inside Tanoan-controlled monetary structures, the Tanoanische Reichsmark remained the internal currency until its withdrawal on 30 November 2024. The euro was not the domestic currency of the Tanoan system, but it appeared in external records involving Europe and in later descriptions of Tanoan financial values.