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) 16 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

ECB unveils Bosnian bank programme — 15 March 2010, 12:23 CET

The European Central Bank has unveiled a million-euro programme to help Bosnia implement European Union banking standards as it prepares for EU membership.

ECB to examine European IMF plan: Trichet — 11 March 2010, 23:41 CET

The European Central Bank will consider a proposed emergency fund for eurozone economies in distress, ECB chief Jean-Claude Trichet said on Wednesday.

EMF plan 'unhelpful': German central bank chief — 10 March 2010, 00:46 CET

The idea of a European Monetary Fund is "unhelpful" but could be welcomed if it cuts deficits, Germany's central bank chief said Tuesday, stressing that Europe should focus on existing debt rules.

ECB economist rejects idea of a 'European IMF': report — 08 March 2010, 17:37 CET

The European Central Bank's head economist took aim Monday at a proposal to create a "European IMF" that would come to the aid of heavily indebted countries like Greece.

EU budget chief to enforce Greek cuts — 25 February 2010, 22:40 CET

Caught between striking workers and sceptical EU officials, Greece's crisis-hit Socialist government will have to brief the EU's budget chief next week on its plans to tame the country's massive debt.

Eurozone lending drop reveals recovery risk: analysts — 25 February 2010, 22:39 CET

A steep fall in eurozone lending even though the amount of money available rose slightly in January highlights a serious risk to Europe's fragile finances and recovery, analysts say.

Strike-hit Greece faces EU budget test — 25 February 2010, 13:47 CET

European Union and IMF experts on Thursday were finalising a report on Greece's crisis-hit finances as the embattled Socialist government digested the impact of a general strike against its austerity cuts.

Greece enters new critical phase of judgement on debt — 25 February 2010, 11:57 CET

Greece enters a new phase of tense uncertainty over its programme to slash overspending on Thursday when European Union and IMF experts leave Athens with their findings of an audit of national finances.

Eurozone lending falls even as money supply rises: ECB — 25 February 2010, 14:36 CET

A sharp contraction in eurozone lending even as the overall amount of money swirling around the 16-nation bloc edged higher underscored concern over the strength of a European recovery on Thursday.

EU choose Portuguese ECB deputy chief — 16 February 2010, 19:21 CET

European finance ministers on Tuesday chose Portugal's Vitor Constancio for the key job of deputy head of the European Central Bank (ECB), an EU statement said.

Germany must fight to get Weber named ECB chief: Juncker — 16 February 2010, 13:22 CET

Germany will have to battle to get its central bank governor Axel Weber named as the European Central Bank's next president, the head of the eurozone finance ministers warned on Tuesday.

Germany moves closer to naming next ECB president — 15 February 2010, 16:25 CET

Germany is set to step up its campaign to name central bank chief Axel Weber as the next European Central Bank president as eurozone ministers meet to decide on the next ECB vice president.

ECB chief tells Greece to strengthen audit procedures — 14 February 2010, 19:32 CET

European Central Bank President Jean-Claude Trichet on Sunday told debt-ridden Greece to strengthen its audit procedures, saying that using unverified figures "should not have been tolerated."

ECB chief welcomes 'important' EU statement on Greece — 12 February 2010, 07:57 CET

European Central Bank president Jean-Claude Trichet welcomed on Friday comments by European Union leaders on the Greek debt crisis, calling their joint statement "important".

Germany wants Papademos to oversee Greece: report — 10 February 2010, 17:52 CET

Germany wants the Greek vice-president of the European Central Bank, Lucas Papademos, to be named head of a European surveillance group overseeing Greece, a press report said Wednesday.

ECB chief leaves Australia early for EU summit — 09 February 2010, 15:50 CET

European Central Bank president Jean-Claude Trichet will leave a central bankers' meeting in Sydney early to attend an informal European Union summit in Brussels, an ECB spokesman told AFP on vTuesday.

ECB sees 'uneven' eurozone recovery — 04 February 2010, 16:32 CET

Eurozone growth is likely to be only moderate in 2010 and economic recovery "uneven," the head of the European Central Bank said on Thursday.

Europe needs Fed-style crisis mechanism: Stiglitz — 02 February 2010, 12:37 CET

The European Union and the European Central Bank should create a crisis mechanism akin to the US Federal Reserve to help debt-hit member-states such as Greece, Nobel lauriat economist Joseph Stiglitz said Tuesday.

Fitch, ECB sound alarm on European national debts — 26 January 2010, 17:15 CET

The Fitch credit rating agency and the European Central Bank issued strong warnings on Tuesday about the weight of European government debt threatening financial markets and economic recovery this year.

German bank chief rules out aid for crisis-hit Greece — 26 January 2010, 09:22 CET

The head of the German central bank, Axel Weber, said Tuesday that any aid for crisis-hit Greece at the European level would be counterproductive and impossible to justify politically.

ECB euro area real-time statistical database — 21 January 2010, 23:46 CET

The European Central Bank (ECB) launched a euro area Real-Time DataBase (RTDB) on 19 January. This new database contains vintages of time series for several macroeconomic and financial variables for the euro area, at the time of publication (i.e. before any revisions carried out at a later stage). It is based on time series reported in the ECB’s Monthly Bulletin since January 2001. The database is available online in the ECB’s Statistical Data Warehouse (SDW) and will be updated on a quarterly basis. The database has been constructed in the context of the Real-Time DataBase (RTDB) project that is being coordinated by the Euro Area Business Cycle Network (EABCN). An in-depth presentation of this euro area RTDB can be found in ECB Working Paper No 1145, entitled “An area-wide real-time database for the euro area”, which was published on 19 January 2010.

Financial supervision training for EU candidates — 19 January 2010, 11:48 CET

The European Central Bank is setting up a two-year programme to train financial watchdogs in the western Balkans and Turkey as they pursue EU membership.

ECB reveals rise in fake euro seizures — 11 January 2010, 16:58 CET

The number of fake euro banknotes seized in the second half of 2009 was eight per cent higher than in the first six months, the ECB said on Monday, continuing a trend.

Greece must not expect EU bailout: ECB — 06 January 2010, 19:01 CET

Greece, threatened by massive overspending, must not expect an EU bailout, the European Central Bank warns as an EU mission to Athens prepares to scrutinise a crisis budget.

Greece will not tear eurozone apart: ECB's Nowotny — 10 December 2009, 13:52 CET

The current crisis in Greece's finances will not lead to a breakup of the eurozone, a top European Central Bank official assured on Thursday but signalled that Greece could not count on help.