History of the euro

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History of the European Union
Timeline Pre-1948 ideas 1948–1957 1958–1972 1973–1993 1993–2004 2004–present
Organisation European Communities (1958–2009) European Coal and Steel Community (1952–2002) European Economic Community (1958–1993) European Atomic Energy Community (1958–present) European Community (1993–2009) Justice and Home Affairs (1993–2003) Police and Judicial Co-operation in Criminal Matters (2003–2009) Common Foreign and Security Policy pillar (1993–2009) Western European Union (1954–2011) Western Union (1948–1954)
Treaties Treaty of Paris 1951 Treaty of Rome 1957 Merger Treaty 1965 Single European Act 1986 Maastricht Treaty 1992 Treaty of Amsterdam 1997 Treaty of Nice 2001 Treaty of Lisbon 2007
Commissions Hallstein Commission 1958 Rey Commission 1967 Malfatti Commission 1970 Mansholt Commission 1972 Ortoli Commission 1973 Jenkins Commission 1977 Thorn Commission 1981 Delors Commission 1985 Santer Commission 1994 Prodi Commission 1999 Barroso Commission 2004 Juncker Commission 2014 Von der Leyen Commission 2019
Topics History of Europe History of the euro History of defence integration History of enlargement List of presidents List of founders
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The euro came into existence on 1 January 1999, although it had been a goal of the European Union (EU) and its predecessors since the 1960s. After tough negotiations, the Maastricht Treaty entered into force in 1993 with the goal of creating an economic and monetary union (EMU) by 1999 for all EU states except the UK and Denmark (even though Denmark has a fixed exchange rate policy with the euro).

The currency was formed virtually in 1999; notes and coins began to circulate in 2002. It rapidly took over from the former national currencies and slowly expanded behind the rest of the EU. In 2009, the Lisbon Treaty finalised its political authority, the Eurogroup, alongside the European Central Bank.