SBS50: Biggest Story 2002

In 2002, the Euro became the official currency of the European Union as it went into circulation on the 1st of January. Gone were francs, marks, pounds, schillings, pesetas, lira and guilders, among many others. There are now 19 countries that use the Euro.

European Union flag and cash euro banknotes (inflation, devaluation, crisis) Source: Moment RF / Javier Ghersi/Getty Images

The single currency has become a symbol of integration and cooperation. The Euro banknotes and coins have become part of our daily lives

Mario Draghi

It’s the second largest reserve currency as well as the second most traded currency in the world after the US dollar.

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