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Log out. US Markets Loading H M S In the news. For millions of Europeans, this week marked the 18th anniversary of when they started to use the euro. The euro was introduced in 12 countries as coins and bank notes on January 1 , replacing what were in some cases centuries-old currencies.
It's now the second most-used currency worldwide. Those countries had a long time to prepare. A three-year transition period began in that allowed the euros to be used for online payments, meaning the euro has now been around for 21 years.
People queued at cash machines to get their hands on the new money at midnight, in what the EU calls "biggest cash changeover in history. Visit Business Insider's homepage for more stories. But there is no sure way to predict what that new geography of money will ultimately look like. We have a fairly good idea of the principal factors that are likely to influence state preferences, but many configurations are possible and even probable.
Skip to main content. Email Facebook Twitter. Abstract Accelerating cross-border competition among currencies is creating increasing turbulence in the international monetary environment. For improved accessibility of PDF content, download the file to your device. Thumbnails Document Outline Attachments. Highlight all Match case. Whole words. Toggle Sidebar. Zoom Out.
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