How did the Euro originate? What are the motives behind adopting a single currency? What are the problems that the Euro faces?
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How did the Euro originate? What are the motives behind adopting a single currency? What are the problems that the Euro faces?
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Euro was adopted on January 1, 1999. The adoption of a common currency was preceded by a sequence of events going back more than 4 decades. The Treaties of Rome were signed in 1957 that paved the way for establishing the European Union. These were preceded by the setting up of European Coal and Steel Community in 1951 (the Treaty of Paris). Treaties of Rome included setting up of the European Economic Community (this is what is usually called the Treaty of Rome) and the European Atomic Energy Commission. The idea was to get a unifi ed Europe with a single currency, the Euro, that would enhance Europe's role in the world monetary system, and turn the European Union into a unifi ed market.
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