Questions about Euro

Short answers, pulled from the story.

Who suggested the name euro for the European Union currency?

The name euro was suggested by a Belgian teacher named Germain Pirlot. He wrote to Jacques Santer, the President of the European Commission, proposing the name on the 4th of August 1995. The name was officially adopted four months later on the 16th of December 1995.

When did physical euro coins and banknotes enter circulation?

Physical euro coins and banknotes entered circulation on the 1st of January 2002. The euro was introduced as an accounting currency on the 1st of January 1999, but the physical currency became the day-to-day operating currency of its original members in 2002. By March 2002, the old currencies had completely vanished.

Who designed the euro banknotes and what do they symbolize?

The Austrian designer Robert Kalina won the competition to design the euro banknotes. His design features windows and gateways on the front to symbolize openness and cooperation, and bridges on the back to represent links between states and with the future. The initial designs were based on specific bridges like the Rialto in Venice and the Pont de Neuilly in Paris.

Which countries were affected by the eurozone crisis of 2009?

The eurozone crisis of 2009 affected states like Greece, Cyprus, Ireland, Italy, Portugal, and Spain. The Greek government-debt crisis was the spark that ignited the fire, but the crisis led to a series of bailouts and credit rating downgrades for nine euro-area countries including France. The crisis revealed the fragility of the euro as countries found themselves unable to devalue their currency to recover international competitiveness.

How many people use the euro and which microstates have adopted it?

358 million people in the eurozone use the currency and over 200 million people worldwide use currencies pegged to the euro. The euro has been designated as the sole and official currency in four European microstates awarded minting rights, including Andorra, Monaco, San Marino, and the Vatican City. It has also been adopted unilaterally as the sole currency of Montenegro and Kosovo.