Belgian Esperantist Germain Pirlot, a former teacher of French and history is credited with naming the new currency by sending a letter to then President of the European Commission, Jacques Santer, suggesting the name "euro" on 4 August 1995. Due to differences in national conventions for rounding and significant digits, all conversion between the national currencies had to be carried out using the process of triangulation via the euro. The "definitive" values of one euro in terms of the exchange rates at which the currency entered the euro are shown on the right.
Introduction
Euro
Euro | Introduction
The euro (symbol: €; code: EUR) is the official currency of 19 of the member states of the European Union. It is the official currency of 19 of the member states of the European Union. It is the official currency of 19 of the member states of the European Union. It is the official currency of 19 of the member states of the European Union
when did the euro come out in spain
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2002
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Eurosis is the third album by the Spanish ska punk band Ska-P, released on April 28, 1998. The album cover depicts a pack of playing cards with a euro coin in the centre, embellished with missiles, machine guns and syringes. The ever-present Gato López, joint in mouth, is flanked by tanks and the two lion statues from the front steps of Spain's parliament. The title is a play on words with "neurosis" and the "euro" which was about to be introduced as an accounting currency in Europe the following year, and as legal tender in 2002.
Eurosis | Introduction
The euro was established by the provisions in the 1992 Maastricht Treaty. To participate in the currency, member states are meant to meet strict criteria, such as a budget deficit of less than 3% of their GDP, a debt ratio of less than 60% of GDP (both of which were ultimately widely flouted after introduction), low inflation, and interest rates close to the EU average. In the Maastricht Treaty, the United Kingdom and Denmark were granted exemptions per their request from moving to the stage of monetary union which resulted in the introduction of the euro. (For macroeconomic theory, see below.) The name "euro" was officially adopted in Madrid on 16 December 1995.
Euro | Introduction
Spain was one of the first countries to join the eurozone. The Spanish starter kits or "Monedero Euro" had a face value of €12,02, equivalent to 1999.96 pesetas; however, they were sold for 2000 pesetas. These kits were released on 15 December 2001. On 1 September 2001, special starter kits for merchants were issued. The latter had a face value of €30,41 (5060 pesetas).
Euro starter kits | Spain
With the creation of the single European currency, the euro has been in effect since January 1, 2002.
Costa Brava | Currency
The Euro became the official currency of certain European Union members on January 1, 2001. The currency was signed into effect in 1992 in the Treaty of Maastricht. The initial idea behind the Euro was that it eliminates exchange rates between European nations and makes currency fluctuation risks minimal.
Economic History of Europe (1000 AD — Present) | Introduction of the Euro
In the Spanish language, the official plural is the same as its regular plural "euros". For the cent, the word "céntimo" (plural "céntimos") can be used. The fraction of the peseta was also called "céntimo", but no céntimo coins had been issued since 1980, and had since been demonetised. The word "euro" is pronounced in Spanish, and "céntimo" or . Slang terms: the euro is often referred to as "pavo", meaning "turkey" in English (the usual translation for "buck" in dubbed films).
Language and the euro | Spanish
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, particularly due to opposition from the United Kingdom, the Maastricht Treaty entered into force in 1993 with the goal of creating an economic and monetary union 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.
History of the euro | Introduction
This is a list of currency of Spain. The current currency since 2002 is the Euro.
Currency of Spain | Introduction
This practice has obviously ended with the introduction of the euro in 2002.
Italian lira | Introduction
The euro came into existence on 1 January 1999. The euro's creation had been a goal of the European Union (EU) and its predecessors since the 1960s. The Maastricht Treaty entered into force in 1993 with the goal of creating economic and monetary union by 1999 for all EU states except the UK and Denmark (though Denmark has a policy of a fixed exchange rate with the euro). In 1999, the currency was born virtually, and in 2002 notes and coins began to circulate. It rapidly took over from the former national currencies and slowly expanded around the rest of the EU.
Euro banknotes | History
Public support for the euro in each state between 2001 and 2006
History of the euro | Public support
The ERM-II is sometimes described as "waiting room" for joining the Economic and Monetary Union of the European Union. The third and final stage dominated by the introduction of the Euro (currencies of the most countries of the European union, basically the Eurozone countries are using Euro). The Madrid European Summit on 15 and 16 December 1995 was set the start date for stage 3 on 1 January 1999, fixed the final euro conversion rates of the participated monetary units, and finished in 2002 with the introduction of euro notes and coins. In the EMU (stage III) the actual currencies in the participating member states are replaced by euro banknotes and coins and entered into the Eurozone.
European Monetary System | Stage III
Spanish euro coins feature three different designs for each of the three series of coins. The minor series of 1, 2, and 5 cent coins were designed by Garcilaso Rollán, the middle series of 10, 20, and 50 cent coins by Begoña Castellanos, and the two major coins feature the portrait of King Felipe VI of Spain. All designs feature the 12 stars of the EU, the year of minting, and the word "España" (Spanish for Spain).
Spanish euro coins | Introduction
The peseta was replaced by the euro on 1 January 1999 on currency exchange boards. Euro coins and notes were introduced in January 2002, and on 1 March 2002 the peseta lost its legal tender status in Spain, and also in Andorra. The conversion rate was 1 euro = 166.386 ESP. Peseta notes issued since 1939 and coins that were legal tender on 31 December 2001 remain exchangeable at any branch of the Spanish Central Bank until 31 December 2020. According to that entity, as of March 2011 pesetas to a value estimated at €1.7 billion had not been converted to euros.
Spanish peseta | Replacement by the euro
The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accountancy. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the French franc and the Spanish peseta. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011 Latvia in 2014, and Lithuania joined in 2015.
100 euro note | History
Belgian Esperantist Germain Pirlot, a former teacher of French and history is credited with naming the new currency by sending a letter to then President of the European Commission, Jacques Santer, suggesting the name "euro" on 4 August 1995. Due to differences in national conventions for rounding and significant digits, all conversion between the national currencies had to be carried out using the process of triangulation via the euro. The "definitive" values of one euro in terms of the exchange rates at which the currency entered the euro are shown on the right.
Euro | Introduction
On 13 October 2009, the index rose by 208.45 points, near its historical high point.
Euro Currency Index | Historical overview
It laid out monetary union being accomplished in three steps. Beginning the first of these steps, on 1 July 1990, exchange controls were abolished, thus capital movements were completely liberalised in the European Economic Community. Leaders reached agreement on currency union with the Maastricht Treaty, signed on 7 February 1992. It agreed to create a single currency, although without the participation of the United Kingdom, by January 1999.
History of the euro | Relaunch
On 1 January 1994, the second stage of the EMU began under the Maastricht Treaty with the establishment of the European Monetary Institute. On 16 December 1995, the date for the introduction of the euro was set as 1 January 1999. On 14 October 1996 the Finnish mark entered the ERM and the Italian lira re-entered the ERM on 25 November. The Greek drachma entered the ERM on 16 January 1998, too late for the 3 May 1998 Council meeting where 11 members (the 15, minus Sweden, Denmark, Greece and the United Kingdom) would adopt the euro in 1999. On 1 June the European Central Bank was established.
History of the European Union (1993–2004) | Economic and Monetary Union
The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accountancy. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Finnish markka. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia joined on 1 January 2014 and Lithuania joined on 1 January 2015.
200 euro note | History
the Castilian maravedi). A modern unit of account is the European Currency Unit, used in the European Union from 1979 to 1998; its replacement in 1999, the Euro, was also just a unit of account until the introduction of notes and coins in 2002.
Unit of account | History
The euro came into existence on 1 January 1999. It had been a goal of the European Union (EU) and its predecessors since the 1960s. The Maastricht Treaty entered into force in 1993 with the goal of creating economic and monetary union by 1999 for all EU states except the United Kingdom and Denmark (even though Denmark has a fixed exchange rate policy with the euro). In 1999 the currency was born virtually and in 2002 notes and coins began to circulate. It rapidly replaced the former national currencies and the eurozone has since expanded further to some newer EU states.
Euro coins | History
The currency was introduced in non-physical form (traveller's cheques, electronic transfers, banking, etc.) at midnight on 1 January 1999, when the national currencies of participating countries (the eurozone) ceased to exist independently in that their exchange rates were locked at fixed rates against each other, effectively making them mere non-decimal subdivisions of the euro. The euro thus became the successor to the European Currency Unit (ECU). The notes and coins for the old currencies, however, continued to be used as legal tender until new notes and coins were introduced on 1 January 2002 (having been distributed in small amounts in the previous December).
History of the euro | Launch
Banknotes of the euro, the currency of the euro area and institutions, have been in circulation since the first series (also called "ES1") was issued in 2002. They are issued by the national central banks of the Eurosystem or the European Central Bank. In 1999 the euro was introduced virtually, and in 2002 notes and coins began to circulate. The euro rapidly took over from the former national currencies and slowly expanded around the European Union. Denominations of the notes range from €5 to €500 and, unlike euro coins, the design is identical across the whole of the Eurozone, although they are issued and printed in various member states.
Euro banknotes | Introduction
Euro- is a prefix usually meaning "European", often applied in relation to the European Union. It may also refer to the unit of currency, the euro.
Euro- | Introduction
In 2009, the Lisbon Treaty finalised its political authority, the Eurogroup, alongside the European Central Bank.
History of the euro | Introduction
Spain started the commemorative coin series "" (UNESCO World Heritage) in 2010, commemorating all of Spain's UNESCO World Heritage Sites, which could continue until 2050. The order in which the coin for a specific site is issued coincides with the order in which they were declared a UNESCO World Heritage site. The coins issued are:
Spanish euro coins | Spanish UNESCO World Heritage Sites series
The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accountancy. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Luxembourgish franc. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014 and Lithuania joined on 1 January 2015.
500 euro note | History
In 1997 Spain joined Eurocontrol as a full member.
ENAIRE | Entry of Spain into Eurocontrol
Silver 2000-peseta coins have been minted every year since 1994. Each year a €12 silver coin is released to continue this tradition in the new currency. The first of such was in 2002 celebrating Spain's presidency of the E.U.
Euro gold and silver commemorative coins (Spain) | 2000-peseta
The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accountancy. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Irish pound and the Austrian schilling. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011 and Latvia on 1 January 2014.
5 euro note | History
Coinciding with the incorporation of Spain to the European Economic Community, in 1986 AENOR was constituted. Until that date, standardization work was the responsibility of the Institute for Rationalization and Standardization (IRANOR).
AENOR | History
In 2010, Spain updated their national sides in order to comply with the European commission recommendations. In the €1 and €2 coins, the same portrait of king Juan Carlos I was used, but the year position was placed in the inner part of the coin. Moreover, the twelve star ring no longer contained chiseled sections. The chiseled sections were also removed from designs for the other coins. In 2015, the portrait on the €1 and €2 coins was changed to that of the new King Felipe VI following his father's abdication the previous year.
Spanish euro coins | Current series
Euro (sign: €; code: EUR) is the official currency of the eurozone. Euro may also refer to:
Euro (disambiguation) | Introduction
The euro is the second-most widely held reserve currency after the U.S. dollar. After its introduction on 4 January 1999 its exchange rate against the other major currencies fell reaching its lowest exchange rates in 2000 (3 May vs Pound sterling, 25 October vs the U.S. dollar, 26 October vs Japanese yen). Afterwards it regained and its exchange rate reached its historical highest point in 2008 (15 July vs U.S. dollar, 23 July vs Japanese yen, 29 December vs Pound sterling). With the advent of the global financial crisis the euro initially fell, to regain later. Despite pressure due to the European sovereign-debt crisis the euro remained stable.
Euro | Against other major currencies
The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accountancy. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Belgian franc and the Greek drachma. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014, and Lithuania in 2015.
20 euro note | History
Then, on 3 May 1998, at the European Council in Brussels, the 11 initial countries that would participate in the third stage from 1 January 1999 were selected. To participate in the new currency, member states had to meet strict criteria such as a budget deficit of less than 3% of their GDP, a debt ratio of less than 60% of GDP, low inflation, and interest rates close to the EU average. Greece failed to meet the criteria and was excluded from participating on 1 January 1999. On 1 June 1998 the European Central Bank succeeded the European Monetary Institute.
History of the euro | Second stage
Europa Award (1976–2010).
Euroscar | Introduction
The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accountancy. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Italian lira and the German mark. Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia joined on 1 January 2014. and Lithuania joined on 1 January 2015.
10 euro note | History
The new management, led by José Ignacio Goirigolzarri reported losses before taxes of 4.3 billion euros (2.98 billion euros taking into account a fiscal credit) compared to a profit of 328 million euros reported when Rodrigo Rato was at the head of Bankia until May 9, 2012. On June 9, 2012, Spain asked Eurozone governments for a bailout worth as much as 100 billion euros ($125 billion) to rescue its banking system as the country became the biggest euro economy until that date, after Ireland, Greece and Portugal, to seek international aid due to its weaknesses amid the European sovereign debt crisis.
Economic history of Spain | Economic Crisis, 2008–2013
The economic policy caused an increase in the price of butane, gasoline, and tobacco, that led to an increase in the price of other goods that increased with the arrival of euro.
History of Spain (1975–present) | Spain under José María Aznar (1996–2004)
Delors' second stage began in 1994 with creation of the European Monetary Institute, succeeding the EMCF, under Maastricht. It was created as the forerunner to the European Central Bank. It met for the first time on 12 January under its first president, Alexandre Lamfalussy. After much disagreement, in December 1995 the name "euro" was adopted for the new currency (replacing the name "Ecu" used for the previous accounting currency), on the suggestion of then-German finance minister Theo Waigel. They also agreed on the date 1 January 1999 for its launch. On 17 June 1997 the European Council decided in Amsterdam to adopt the Stability and Growth Pact, designed to ensure budgetary discipline after creation of the euro, and a new exchange rate mechanism (ERM II) was set up to provide stability above the euro and the national currencies of countries that hadn't yet entered the eurozone.
History of the euro | Second stage
Beginning on 1 January 1999, all bonds and other forms of government debt by eurozone nations were denominated in euros. The value of the euro, which started at US$1.1686 on 31 December 1998, rose during its first day of trading, Monday, 4 January 1999, closing at approximately US$1.18. It was rapidly taken up and dealers were surprised by the speed at which it replaced the national currencies. Trading in the Deutsche Mark was expected to continue in parallel but vanished as soon as the markets opened. However, by the end of 1999 the euro had dropped to parity with the dollar leading to emergency action from the G7 to support the euro in 2001.
History of the euro | Launch
The development of the money market in the euro area or the euro money market made its inception with very low rates of interest.
Euro money market | Introduction
Spain was one of the few countries to vote Yes for the European Constitution in a referendum in February 2005, though by a lower margin in Catalonia and the Basque Country. In 2008, after the financial crisis reached Spain, the percentage of pro European persons started to fall. Thus, during the five years of the economic crisis, the Eurobarometer shows how the trust in the EU increasingly fell in Spain, and the confidence of the Spanish citizens in the European Union decreased for more than 50 points. Spain became one of the most Eurosceptic countries among all European Union Members, as it happened in pretty much European countries, where nationalist and eurosceptic characterised parties became stronger.
Euroscepticism | Spain
By the mid-1990s the economy had commenced the growth that had been disrupted by the global recession of the early 1990s. The strong economic growth helped the government to reduce the government debt as a percentage of GDP and Spain's high unemployment rate began to steadily decline. With the government budget in balance and inflation under control Spain was admitted into the Eurozone in 1999.
Spain | Economy
When available, seat projections are also displayed below the voting estimates in a smaller font.
1987 European Parliament election in Spain | Opinion polls
These are the statistics for the Euro 1992 in Sweden.
UEFA Euro 1992 statistics | Introduction
EuroMillions is a transnational lottery that requires seven correct numbers to win the jackpot. It was launched on 7 February 2004 by France's Française des Jeux, Spain's "Loterías y Apuestas del Estado" and the United Kingdom's Camelot. The first draw was held on 13 February 2004 in Paris. Initially, only the UK, France and Spain participated, with the Austrian, Belgian, Irish, Luxembourgish, Portuguese and Swiss lotteries joining for the 8 October 2004 draw. Drawings are held every Tuesday and Friday night at 20:45 CET in Paris. A standard EuroMillions ticket costs €2.50, £2.50 or CHF3.50 per line played, but this depends on the local currency.
EuroMillions | Introduction
When available, seat projections are also displayed below the voting estimates in a smaller font.
1994 European Parliament election in Spain | Opinion polls
"See also:" 2004 European Parliament election in Spain
David Hammerstein Mintz | Introduction
The English plural of the word euro was first defined as "euro" without final "s", before becoming "euros" with a final "s".
Euro English | Vocabulary
In Leonese, a language spoken in the Spanish provinces of León and Zamora, the word for "euro" is "euru", the plural being "euros".
Language and the euro | Leonese
Due to differences in national conventions for rounding and significant digits, all conversion between the national currencies had to be carried out using the process of triangulation via the euro.
History of the euro | Second stage
"Last updated after Russia-Spain on 26 June 2008."
UEFA Euro 2008 statistics | By team
In 1998, eleven member states of the European Union had met the euro convergence criteria, and the eurozone came into existence with the official launch of the euro (alongside national currencies) on 1 January 1999. Greece qualified in 2000, and was admitted on 1 January 2001 before physical notes and coins were introduced on 1 January 2002, replacing all national currencies. Between 2007 and 2015, seven new states acceded.
Eurozone | European Union member states
Currencies: Peseta (₧, 1868–2002)Euro (€, 2002–present)"See also Spanish peseta."
List of people on banknotes | <a href="Spain">Spain</a>
The coins have been used from 2002, though some are dated 1999 which is the year the euro was created as a currency, but not put into general circulation.
2 euro coin | Design
In 1996, the centre-right "Partido Popular" government came to power, led by José María Aznar. On 1 January 1999, Spain exchanged the "peseta" for the new Euro currency. The peseta continued to be used for cash transactions until January 1, 2002. On 11 March 2004 a number of terrorist bombs exploded on busy commuter trains in Madrid by Islamic extremists linked to Al-Qaeda, killing 191 persons and injuring thousands. The election, held three days after the attacks, was won by the PSOE, and José Luis Rodríguez Zapatero replaced Aznar as prime minister. As José María Aznar and his ministers at first accused ETA of the atrocity, it has been argued that the outcome of the election has been influenced by this event.
History of Spain | Spain within the European Union (1993 to present)
The actual circulation began on 15 January 2015.
Andorra and the euro | Currency agreements
After dropping to an interday low of US$0.8296 on 26 October 2001, and a brief crash to $0.8115 on 15 January 2002, the euro soon recovered from its early slump. Its value last closed below $1.00 on 6 November 2002 ($0.9971), and increased rapidly from there. It peaked at $1.35 in 2004, and reached its highest value versus the U.S. dollar at $1.5916 on 14 July 2008. As its values increased against the pound sterling in the late-2000s, peaking at 97.73p on 31 December 2008, its international usage grew rapidly. The euro grew in importance steadily, with its share of foreign exchange reserves rising from nearly 18% in 1999 to 25% in 2003 - while the dollar share fell by an equivalent margin.
History of the euro | Early growth
Like all member nations, these coins come in denominations of 1, 2, and 5 cents in copper plated brass, 10, 20, and 50 cents in Nordic gold, and bimetallic 1 and 2 euros with a common reverse design. The obverse of the first three denominations feature Cathedral of Santiago de Compostela, the 10, 20, and 50 cents depict Spanish poet-writer Miguel de Cervantes, and the 1 and 2 euros depict the effigy of King Juan Carlos I or King Felipe VI.
Spanish peseta | Spanish euro coins
Beginning in 1999, all deposits and loans were technically in euros, but deposits and withdrawals continued in the legacy currency. Statements would bear balances in both currencies beginning no later than 1 July 2001, and earlier if required by the customer's needs.
History of the euro | Minting
When available, seat projections are also displayed below the voting estimates in a smaller font.
1989 European Parliament election in Spain | Opinion polls
In September 1995, Waigel first proposed that countries adopting a single currency agree to reinforce rules on budget deficits and impose financial sanctions against deficit violators that go beyond the penalties included in the [[Maastricht Treaty]]. Also in September 1995, Waigel first floated Euro as the name of the new single currency. He later overruled the French government with his proposal; France had favored want the name ECU, the [[European Currency Unit]] which was used in many accounts and the issuance of some debt at the time. The name "Euro" was later chosen for the new currency at the European Council in Madrid.
Theo Waigel | Introduction of the Euro
On 5 October 1992, a value of 195.98 points was determined. The increase in 1985 was 60.3 percent. On 25 October 2000, the index closed at 130.83 points, up by 33.2 percent. In 2000 began a multi-year upward movement of the Euro. On 29 December 2008, the index marked 209.65 points, an all-time high. The profit since year 2000 is 60.2 percent. In the course of the international financial crisis, from which the U.S. real estate crisis originated in the summer of 2007, the index began to decline. On 6 February 2009 a value of 187.84 points was determined. In the following eight months, the European single currency rebounded from the lows.
Euro Currency Index | Historical overview
The Spanish securities market was worth 22.65 million euros in 2007 an increase from 13.72 million euros in 2006 according to the supervisor's annual accounts published in the official gazette (Boletín Oficial del Estado)
Comisión Nacional del Mercado de Valores | Economic data
The obligation for EU member states to adopt the euro was first outlined by article 109.1j of the Maastricht Treaty of 1992, which became binding on all new member states by the terms of their treaties of accession. , there are 19 EU member states in the eurozone, of which the first 11 (Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain) introduced the euro on 1 January 1999 when it was electronic only. Greece joined 1 January 2001, one year before the physical euro coins and notes replaced the old national currencies in the eurozone. Subsequently, the following seven countries also joined the eurozone on 1 January in the mentioned year: Slovenia (2007), Cyprus (2008), Malta (2008), Slovakia (2009), Estonia (2011), Latvia (2014) and Lithuania (2015).
Enlargement of the eurozone | Introduction
In this regard, according to Eurostat's estimates for 2007 GDP per capita for the EU-27. Spain happened to stay by that time at 107% of the level, well above Italy who was still above the average (101%), and catching up with countries like France (111%).
Economic history of Spain | Convergence with the European Union
The Central Bank began production of euro coins in September 1999, producing over a billion coins, weighing about 5,000 tons, with a value of €230 million before the introduction into circulation of the euro coins in January 2002. Production of euro banknotes began in June 2000, with 300 million notes worth €4 billion being produced in denominations of 5, 10, 20, 50, and 100 euros. Euro banknotes produced for the Central Bank are identified by having the serial number begin with the letter T. The Bank did not initially issue €200 or €500 notes, but has since begun to do so.
Central Bank of Ireland | Towards the Euro
When available, seat projections are also displayed below the voting estimates in a smaller font.
1999 European Parliament election in Spain | Opinion polls
The euro sign, , is the currency sign used for the euro, the official currency of the Eurozone and some other countries (such as Kosovo and Montenegro). The design was presented to the public by the European Commission on 12 December 1996. It consists of a stylized letter E (or epsilon), crossed by two lines instead of one. In English, the sign precedes the value (for instance, €10); in most other European languages, the reverse is true (for instance, 10€).
Euro sign | Introduction
The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe. For the first three years of its existence it was an invisible currency, only used in accounting. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the 12 countries in the eurozone, such as the Dutch guilder and the Portuguese escudo. Today, the €50 note is used by some 332 million Europeans and in the 22 countries which have it as their sole currency (with 20 legally adopting it). Slovenia joined the Eurozone in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014, and Lithuania in 2015.
50 euro note | History
In 2007, Eurodicautom was replaced by Interactive Terminology for Europe (IATE).
Eurodicautom | Introduction
The designs for the new coins and notes were announced between 1996 and 1998, and production began at the various mints and printers on 11 May 1998. The task was large, and would require the full three-and-a-half-years. In all, 7.4 billion notes and 38.2 billion coins would be available for issuance to consumers and businesses on 1 January 2002. In seven nations, the new coins—struck in the run-up to 1 January 2002—would bear a 2002 date. In Belgium, Finland, France, the Netherlands, and Spain, the new coins would bear the date of striking, so those five countries would be the only ones to strike euro coins dated 1999, 2000, and 2001.
History of the euro | Minting
Spain started the commemorative coin series (UNESCO World Heritage) in 2010, commemorating all of Spain's UNESCO World Heritage Sites, which could continue until 2050. The order in which the coin for a specific site is issued coincides with the order in which they were declared a UNESCO World Heritage site. The coins issued are:
2 euro commemorative coins | Spanish UNESCO World Heritage Sites series
In the wake of its joining the EEC, Spain experienced an economic boom during two decades, cut painfully short by the financial crisis of 2008. During the boom years, Spain attracted a large number of immigrants, especially from the United Kingdom, but also including unknown but substantial illegal immigration, mostly from Latin America, eastern Europe and north Africa. Spain had the fourth largest economy in the Eurozone, but after 2008 the global economic recession hit Spain hard, with the bursting of the housing bubble and unemployment reaching over 25%, sharp budget cutbacks were needed to stay in the Euro zone.
History of Spain | Spain within the European Union (1993 to present)
The last two digits represent the month. Example: "7805" represents "May 1978". Its use ceased in 2001, in coincidence with the upcoming introduction of the European wide Euro currency in 2002.
Gettone | Introduction
In English language newspapers and periodicals, the euro sign—like the dollar sign ($) and the pound sign (£)—is placed before the figure, unspaced, as used by publications such as the "Financial Times" and "The Economist". When written out, "euro" is placed after the value in lower case; the plural is used for two or more units, and (in English) euro cents are separated with a point, not a comma (e.g., "1.50 euro", "14 euros").
Euro sign | Use
As one of the largest eurozone economies (larger than Greece, Portugal and Ireland combined) the condition of Spain's economy is of particular concern to international observers. Under pressure from the United States, the IMF, other European countries and the European Commission the Spanish governments eventually succeeded in trimming the deficit from 11.2% of GDP in 2009 to 7.1% in 2013. Nevertheless, in June 2012, Spain became a prime concern for the Euro-zone when interest on Spain's 10-year bonds reached the 7% level and it faced difficulty in accessing bond markets. This led the Eurogroup on 9 June 2012 to grant Spain a financial support package of up to €100 billion.
European debt crisis | Spain
These are the statistics for the Euro 2004 in Portugal.
UEFA Euro 2004 statistics | Introduction
A euro calculator is a very popular type of calculator in European countries (see eurozone) that adopted the euro as their official monetary unit. It functions like any other normal calculator, but it also includes a special function which allows one to convert a value expressed in the previously official unit (the peseta in Spain, for example) to the new value in euros, or vice versa. Its use became very popular within the population and commerce of these countries especially during the first few months after adopting the euro. As so many were produced, they are also found outside the eurozone to help staff with conversions at airports or railway stations where the euro has a strong presence.
Euro calculator | Introduction
All nations that have joined the EU since 1993 have pledged to adopt the euro in due course.
Euro | Administration
In 2001, the Bank of Greece issued starter kits for the introduction of the Euro.
Greek euro coins | Greek starter kit
"Euro Weekly News" (EWN) is the largest English newspaper in Spain.
EuroWeekly News | Introduction
Group C of UEFA Euro 2000 began on 13 June and ended on 21 June 2000. Spain won the group ahead of FR Yugoslavia. Norway and Slovenia were eliminated.
UEFA Euro 2000 Group C | Introduction
Besides the date of the introduction of the first set to January 2002, the publication of figures is more significant through the maximum number of banknotes raised each year. The number is higher the end of the year, except for this note between 2011 and 2013 until 2015. The figures are as follows:
500 euro note | Circulation
Spain and Portugal joined (having applied in 1977) on 1 January 1986 in the third enlargement.
History of the European Union | 1973–1993: Enlargement to Delors
The President of the Italian Republic Francesco Cossiga was present at this edition.
Euroflora | Euroflora 1991
The eusko is a local currency released by the "Eusko Moneta erakundea", and it is one of a number of currencies that are active in the Basque Country. It is mainly used in the Northern Basque Country. The currency was created on the 31st of January 2013.
Eusko | Introduction
(2004). "De la jerarquía al mercado: la reforma financiera española desde la nueva economía institucional." Papeles de Economía Española 101. Caminal, R., et al. (1990). Competition in Spanish Banking. European Banking in the 1990s. J. Dermine. Oxford. Canals, J. (1994). Competitive Strategies in European Banking. Oxford. Comín, F. (2003). "La Confederación Española de Cajas de Ahorros: asociación representativa, caja de cajas y proveedora de servicios (1928-2003)." Economistas 98: 36-45. Comín, F. and Torres, E. (2005). "La confederación española de cajas de ahorro y el desarrollo de la red de servicios financieros de las cajas en el siglo XX." Papeles de Economía Española 105-106: 48-65.
Savings bank (Spain) | Sources
The many years of the EU's existence have led to the appearance of EU-specific vocabulary.
Euro English | EU glossary
The coins are composed of an alloy called Nordic gold, with a diameter of 22.25 mm, a 2.14 mm thickness and a mass of 5.74 grams. The coins' edges are smooth with seven indentations from the coin's "Spanish flower" shape. The coins have been used from 2002, though some are dated 1999 which is the year the euro was created as a currency, but not put into general circulation.
20 euro cent coin | Design
2014, 2016, 2018: Spain 2015, 2017: France
Andorra and the euro | Mints
The adoption of the Euro in 2002 had driven down long-term interest rates, prompting a surge in mortgage lending that jumped more than fourfold from 2000 to its 2010 apex. The growth in the Spanish property market, which had begun in 1997, accelerated and within a few years had developed into a property bubble, financed largely by regional banks, known as "Cajas", which are regional savings banks under the oversight of regional governments, and fed by the historically low interest rates and a massive growth of immigration. Fueling this trend, the Spanish economy was being credited for having avoided the virtual zero growth rate of some of its largest partners in the EU in the months previous to the global Great Recession.
Economy of Spain | Property boom and bust (2003–2014)
In particular, Spain had a quarter of all these high-value bills within its borders in 2006. This concentration of €500 notes is far greater than expected for an economy of Spain's size, as prior to conversion to euro the largest banknote was 10,000 Spanish pesetas, worth €60. These notes are rarely seen in every-day commerce – they have been nicknamed "Bin Ladens" by the populace (as the presence and appearance of the notes are well-known, but the notes themselves are very difficult to find). British and Spanish police are using the bills to track money laundering.
500 euro note | Crime
The final decision was taken by the EU finance ministers (Ecofin) on 10 July 2007 and the conversion rate was fixed at 0.585274 CYP. On 23 October 2007, the coin designs were officially published in the Official Journal of the European Union.
History of the euro | Cyprus
The peseta (, ) was the currency of Spain between 1868 and 2002. Along with the French franc, it was also a "de facto" currency used in Andorra (which had no national currency with legal tender).
Spanish peseta | Introduction
However the Greek government-debt crisis led to former British Foreign Secretary Jack Straw claiming the eurozone could not last in its current form. Part of the problem seems to be the rules that were created when the euro was set up. John Lanchester, writing for "The New Yorker", explains it:
Euro | Optimal currency area
In these early times Spain had already a huge trade deficit, a loss of competitiveness against its main trading partners, an above-average inflation rate, house price increases, and a growing family indebtedness. During the third quarter of 2008 the national GDP contracted for the first time in 15 years, and, in February 2009, Spain (and other European economies) officially entered recession. The economy contracted 3.7% in 2009 and again in 2010 by 0.1%. It grew by 0.7% in 2011. By the 1st quarter of 2012, Spain was officially in recession once again. The Spanish government forecast a 1.7% drop for 2012.
2008–2014 Spanish financial crisis | Introduction