The euro - the EU single currency

Latest business news about the euro - the Common Currency of the European Union.

The euro is the single currency shared by (currently) 17 of the European Union's Member States, which together make up the euro area.

The introduction of the euro in 1999 was a major step in European integration. It has also been one of its major successes: around 329 million EU citizens now use it as their currency and enjoy its benefits, which will spread even more widely as other EU countries adopt the euro.

FACT SHEETS

General Information

• The Euro and Economic and Monetary Union
• The Euro and International Financial Markets

Business

• The Euro - Business Benefits
• Financing Programmes for SMEs

Useful Links

Economies of the EU Member States

EU Economic and Financial Affairs Contacts

LATEST NEWS

Spain launches EUR 50bn bank reform — 03 February 2012, 16:44 CET

Spain's conservative government Friday launched a major clean-up of the country's troubled banks, approving a law that obliges them to set up a financial safety net totalling 50 billion euros.

Spain unveils EUR 50bn bank sector clean-up — 02 February 2012, 19:49 CET

Spain's government unveiled reforms Thursday that will oblige banks to clean up their bad loans by building up provisions and capital reserves totalling 50 billion euros.

Spain pays lower rates in EUR 4.56bn bond issue — 02 February 2012, 12:12 CET

Spain's borrowing rates tumbled Thursday in a sale of its medium-term bonds, the central bank said, a fresh sign of easing market confidence as the country fights to stabilise its finances.

EU mulling lighter lending rules for banks: report — 02 February 2012, 10:44 CET

The European Union is mulling lighter rules on banking reserves in a development that could see regulators stand accused of buckling to industry pressure, the Wall Street Journal reported Thursday.

Banks set to double borrowing from ECB: report — 31 January 2012, 11:56 CET

European banks plan to borrow at least twice as much money from the European Central Bank next month as they did in December, the Financial Times reported Tuesday, which would bring the sum to around one trillion euros.

French banks would come to Britain to avoid tax: Cameron — 31 January 2012, 10:13 CET

British Prime Minister David Cameron took a fresh dig at cross-channel rival France Monday, warning that French banks would flee to Britain if Paris introduces a financial transactions tax.

ECB chief hails EU fiscal pact — 31 January 2012, 10:08 CET

The president of the European Central Bank, Mario Draghi, Tuesday welcomed a European accord on tighter budgetary rules, hailing it as a movement in the path towards a fiscal union.

ECB bond purchases dry up — 30 January 2012, 18:16 CET

Data published by the European Central Bank on Monday revealed that the bank's purchases of the bonds of eurozone nations diminished sharply last week amid signs of stabilisation on sovereign bond markets.

Football:National stadium rocks on its inauguration — 29 January 2012, 22:22 CET

Poland cleared a crucial hurdle Sunday in its closely-watched preparations for Euro 2012, as thousands braved bone-chilling temperatures at the rock'n'roll inauguration of its new national stadium.

Hungary says IMF talks have no 'preconditions' — 27 January 2012, 19:03 CET

Talks on a credit line between Hungary and the International Monetary Fund and the European Union will be held without "preconditions," a government spokesman told state television on Friday.

Brussels to probe Latvian bank sale plans — 26 January 2012, 16:23 CET

The European Commission said Thursday it was launching a probe into state support for Latvia's Hipoteku un Zemes Banka (Mortgage and Land Bank, MLB) ahead of an eventual sell-off of its commerical assets.

EU breaks impasse on derivatives regulation — 24 January 2012, 20:25 CET

European finance ministers broke an impasse Tuesday in regulation of the multi-trillion-euro trade in over-the-counter (OTC) financial derivatives.

Italy wants to double size of eurozone bailout fund: report — 22 January 2012, 11:42 CET

Italian Prime Minister Mario Monti is pushing to double the size of Europe's permanent bailout fund to one billion euros ($1.3 billion), a German media report to be published Monday said.

Record bank deposits at ECB: sign of a new credit crunch? — 22 January 2012, 03:57 CET

Crisis-hit eurozone banks are parking record amounts of cash at the European Central Bank for overnight storage, despite low interest rates, indicating to some analysts the threat of a new credit crunch.

East Europe central bankers still keen on euro — 18 January 2012, 17:43 CET

Countries in central and eastern Europe, including Hungary, still want to join the euro despite the current debt crisis, central bankers in the region told a conference Wednesday.

Hungarian central bank chief says independence vital — 18 January 2012, 12:59 CET

Hungary's government has no choice but to ensure central bank independence, the head of the country's central bank said Wednesday, after the EU launched legal action over reforms to the lender.

Nervous banks park record sums at ECB — 18 January 2012, 12:59 CET

Crisis-hit eurozone banks parked a record 528.18 billion euros ($675.60 billion) overnight at the European Central Bank, data showed on Wednesday, suggesting the crucial interbank market is clogged.

Greece's creditors 'committed' to debt deal — 17 January 2012, 18:46 CET

Greece's bank creditors said Tuesday that they are still committed to reaching a deal on writing down the country's debt and would resume talks in Athens on Wednesday.

EU bailout fund bonds see strong demand after downgrade — 17 January 2012, 18:43 CET

The EU's bailout fund, the EFSF, enjoyed strong demand Tuesday at an auction of six-month debt, Germany's central bank said, only a day after ratings agency Standard and Poor's downgraded it.

Strong demand for EU bailout fund bonds: Bundesbank — 17 January 2012, 12:47 CET

The EU's bailout fund, the EFSF, enjoyed strong demand Tuesday at an auction of six-month debt, Germany's central bank said, only a day after ratings agency Standard and Poor's downgraded it.

Banks' deposits at ECB hit another record high — 17 January 2012, 18:28 CET

Banks' deposits with the European Central Bank have hit yet another record, data showed Tuesday, suggesting ongoing tension in the financial system despite unprecedented liquidity injections.

ECB triples bond buys — 16 January 2012, 16:22 CET

The European Central Bank said on Monday it more than tripled its purchases of the bonds of eurozone nations last week, as it seeks to keep a lid on borrowing costs for crisis-wracked members of the bloc.

Sharp drop in euro forgeries: ECB — 16 January 2012, 14:22 CET

The number of counterfeit euro banknotes withdrawn from circulation dropped sharply last year, the European Central Bank said Monday, warning the public nevertheless to stay alert for fakes.

Banks' deposits at ECB hit another record — 16 January 2012, 14:20 CET

Banks' deposits with the European Central Bank have hit yet another record, data showed Monday, suggesting ongoing tension in the financial system despite unprecedented liquidity injections.

Greece and Europe belong together, says German minister — 15 January 2012, 22:37 CET

Greece and Europe belong together, Germany's foreign minister said Sunday after meeting the debt-crippled country's leaders ahead of a week of tough talks for Athens with its creditors.