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Why do we pay with euros?

Waehrung
A currency for Europe
The introduction of the euro was a currency conversion operation on an unprecedented scale. On January 1, 2002, we transitioned to the new euro money from one day to the next, but the launch of the common currency had been prepared well in advance. About 344 million people in 20 member states of the European Union (EU) and six other European countries use a single common currency: the euro

The introduction of the euro was a currency conversion operation on an unprecedented scale. On January 1, 2002, we transitioned to the new euro money from one day to the next, but the launch of the common currency had been prepared well in advance. As early as 1970, the then governments of the EU (at the time still called EC, European Community) proposed the introduction of a common currency. But it would take some years before this actually happened. In the past, currency exchange rates fluctuated massively, which meant that you could get more or less foreign exchange for your money when you changed it to buy something abroad. That was a problem for companies too because they could never budget reliably for imports and exports. The euro has been a tremendous success. The eurozone countries committed themselves to policies that safeguard the stability of the euro. This helped improve the economic performance of the whole euro region – which in turn ensured prosperity in the EU. Charges and commissions for changing money when you buy or sell something abroad are now a thing of the past. As companies no longer need to fear exchange rate fluctuations within the eurozone, trade among the EU countries has expanded massively. The euro has grown into one of the world’s most important currencies, second only to the US dollar. In addition to its function as a means of payment, it has also become an expression of European identity.

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Why do we pay with euros?

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