Tag: Eurosystem

The University of Maastricht visits the Museum

As part of the ‘Financial Market Reform in the European Union’ summer program, organized by the University of Maastricht, the Museum welcomed prof. David Cleeton, expert authority in Political Economy of the European Union of Illinois State University, and his students.

Bye-bye litas, hello euro!

On 1 January 2015, it will be exactly 13 years since the euro became our official currency. For Lithuania, it will be first day. The last of the three Baltic states will be joining the euro area at the beginning of next year, making it the 19th member country.

When Milda joins Europe

2014 wordt een memorabel jaar voor de Eurozone. Om te beginnen is het op 1 januari vijftien jaar geleden dat de euro giraal werd geïntroduceerd en twaalf jaar dat de munten en biljetten bestaan. Dit getal is symbolisch belangrijk omdat het ook om het aantal sterren gaat die afgebeeld zijn op de Europese vlag. Maar het belangrijkste getal is 18. De Eurozone verwelkomt immers zijn achttiende lidstaat: Letland.

Designing the Euro banknotes

Today, more than nine years after €-Day, when the fiduciary euro was put into circulation, the design of euro banknotes has been is only of secondary importance. But deciding what the new banknotes should look like was actually a very long drawn-out process.

Tere Euro!

With cries of “Tere Euro!”or “Hello Euro”, Estonia was given a hearty wecome into the European single currency club on 1 January 2011. With this move, Estonia became the seventeenth member country of the euro area. It was also the first Baltic state to meet the Maastricht criteria.

The road to the euro

The introduction of a single currency in Europe forms part of a long process of economic integration. That is nothing new. Monetary history and the currencies of the past provide us with several examples of common currencies and monetary unions.

Nový člen eurozóny (a new Euro country)

How many Euro countries are there? Twenty-seven? No, although the European Union has 27 member states since 1 January 2007, the Euro area is not that large. Twelve? Almost, that was the correct answer in 2002. Fifteen then? Until a short while ago this was correct, but we are now in 2009 and that’s the year that the Euro area welcomes its sixteenth member: Slovakia. High time to discover the newest series of Euro coins.

Cyprus and Malta join the Euro area

1 January 2008, the Euro area enlarged again as Cyprus and Malta joined the other 13 members of the euroclub. Both countries only recently joined the European Union, i.e. 1 May 2004 which means that they were very succesful in adapting their economies.