The most important achievement of European reform since the Roman Empire.
The euro not only improves the European single market and makes free trade between eurozone countries easier, but is also an important part of the EU integration process.
In March 1969, the leaders of the six European Communities (Belgium, France, Federal Germany, Italy, Luxembourg and the Netherlands) gathered in The Hague, Netherlands, put forward the idea of establishing a European Monetary Union, and entrusted Pierre Werner, then Prime Minister of Luxembourg, to put forward specific proposals.
The first steps towards a single European currency were taken in March 1971 with the adoption of what came to be known as the Werner Plan.
In March 1979, under the initiative and efforts of France and Germany, the European monetary system was established and the European “Euju” was born.
In September 1992, EU member states decided to implement the single currency in the EU treaty signed at Maastricht.
The protocol attached to the treaty allowed Britain and Denmark to remain outside the single currency.
At the meeting of the European Council held in Madrid on December 15-16, 1995, the heads of 15 member states unanimously decided to select “Euro” as the name of the future European currency, which is translated as “Euro” in Chinese, replacing the European Monetary unit “EJU”, and agreed to formally launch the single currency on January 1, 1999.
It entered the circulation field on January 1, 2002.
