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

Football: Fans protest at Warsaw Euro 2012 stadium — 11 February 2012, 23:32 CET

Three thousand supporters of Legia Warsaw staged an angry protest on Saturday after a match scheduled to be the first at the city's Euro 2012 stadium was cancelled on security grounds.

Greek police demand arrest of EU-IMF mission over austerity — 10 February 2012, 18:04 CET

Greek police unionists have called for the arrest of head auditors from the EU, the IMF and the European Central Bank for destroying social cohesion with a tough austerity plan ongoing for a third year.

EU agrees new rules to police derivatives market — 09 February 2012, 22:27 CET

EU government and parliament negotiators have struck a deal to impose new rules on the multi-trillion-euro derivatives market, an obscure instrument maligned for helping cause the global financial crisis.

EU authority satisfied with bank recapitalisation plans — 09 February 2012, 21:06 CET

The EU banking regulator said Thursday that recapitalisation plans drawn up by European banks were sufficient to achieve new capital requirements without hurting lending to the real economy.

ECB says does not rule out giving up profits on Greek bonds — 09 February 2012, 16:37 CET

European Central Bank chief Mario Draghi said Thursday the ECB did not rule out giving up the profits on its massive holdings of Greek bonds as part of a wider debt bailout for the country.

Greece says agreement reached on austerity measures: ECB — 09 February 2012, 16:23 CET

A deal has been reached among Greek political leaders on additional austerity measures demanded by EU-IMF creditors in return for a loan bailout, European Central Bank chief Mario Draghi said Thursday.

UN trade chief defends transactions tax — 07 February 2012, 19:02 CET

UN trade and development chief Supachai Panitchpakdi on Tuesday defended the introduction of a European financial transaction tax.

General strike hits Greece, EU raises pressure on debt — 07 February 2012, 15:03 CET

A general strike gripped Greece on Tuesday in protest against new austerity measures demanded with increasing urgency by the European Union as part of a debt rescue deal with banks.

Dutch central bank against financial transaction tax — 06 February 2012, 19:16 CET

The Dutch central bank said Monday it opposed plans for a financial transaction tax in the EU as it will cost banks, pension funds and insurers in the Netherlands billions of euros and discourage growth.

ECB bond purchases remain negligible — 06 February 2012, 16:42 CET

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

EU ramps up pressure on Greece as timetable slips — 06 February 2012, 20:51 CET

Embattled Greek Prime Minister Lucas Papademos faced growing EU pressure Monday to quickly agree tough austerity measures in a new bailout but talks with his coalition partners on the deal were delayed.

EU regulator 'impressed' with banks on recapitalisation — 06 February 2012, 16:47 CET

The EU banking regulator said Monday that it was "impressed" with the willingness of European banks to meet new recapitalisation demands, ahead of a progress update due this week.

Strain shows in Greek coalition ahead of fresh debt talks — 06 February 2012, 11:20 CET

Leaders of Greece's ruling coalition were steeling themselves for fresh talks Monday after objections to another round of spending cuts stalled progress on clinching a critical debt rescue package.

Greece forces overtime in critical debt talks — 05 February 2012, 22:57 CET

Greece on Sunday insisted on extending critical talks on a debt rescue into Monday, as the government's coalition backers denounced pressure from public creditors to pass harsher austerity measures.

Greek leaders in emergency meeting for debt deal — 05 February 2012, 20:53 CET

Greek Prime Minister Lucas Papademos held an emergency meeting with political allies on Sunday after hours of "superhuman" negotiations with EU-IMF bailout auditors failed to produce a rescue deal.

Judgement day for Greek default rescue — 05 February 2012, 14:51 CET

Greek PM Lucas Papademos summoned political allies to an emergency meeting on Sunday after hours of "superhuman" negotiations with EU-IMF bailout auditors failed to produce a rescue deal.

24 hours to clinch Greek bankruptcy-saving deal — 04 February 2012, 22:43 CET

Greece has one day left to clinch a eurozone bailout and a bond swap with creditors to manage its crushing debt repayments, its finance minister said Saturday, warning that talks were "on a knife edge."

Pressure mounts on Greece as marathon rescue talks resume — 04 February 2012, 22:39 CET

Greece is to resume marathon talks with European and IMF officials on Saturday as negotiations to produce a bailout deal for its crisis-hit economy by next week reached a climax.

Eurozone ministers to discuss Greece amid bailout deadlock — 04 February 2012, 12:41 CET

Eurozone finance ministers were to confer by telephone on Saturday after 12 hours of talks in Athens failed to produce a breakthrough on a deal to bail out Greece.

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.