Let's debate on advantages and disadvantages!

   THE EURO:  WHY AND WHEN IT APPEARED.

- First off all, a short introduction about the European Monetary Union ( E.M.U)  and  about the Euro.

-The E.M.U. is officially the long term project for the unification of Europe. It includes the creation  of the "Euro", the new single currency for Europe, from 1st January 1999, and the fixing of conversion rates of eleven national currencies. "E.M.U" is also used more loosely to mean "European Monetary Union".

-The Euro is the name of the new European currency. The rules for its spelling, plural forms, pronunciation, gender, position of the symbol before or after the amount, use of the comma or the point for the decimal separator, and all similar usage issues, follow the rules of the language and the usages of
 the currency  of the country in which its is used. Like many other EU rules, it is a matter for subsidiarity-  such things are decided at a national level.

- After this introduction we are going to get into the main part of this web page.
  Why was the euro born? . The main reason of  the creation of the euro is actually to compete in the international market with the all-powered dollar which grew too high for the Europeans in the last ten years.

- Here is the currency symbol table for currencies all over Europe, including some non-EU states:

                In EMU countries:                      Non EMU countries:

               -ATS Austrian Schillings                             -SEK Swedish Krona
               -BEF Belgian Francs                                  -GBP British Pound
               -NLG Dutch Guilders                                 -DKK Danish Kroner
               -FIM Finnish Markka                                 -GRD Greek Drachmas
               -FRF French Francs
               -DEM German Marks
               -IEP Irish Pound                                    Non-EU Countries:
               -ITL Italian Lira
               -LUF Luxembourg Francs                           -CHF Swiss Francs
               -PTE Portugese Escudo                              -ISK Iclandic Krona
               -ESP Spanish Pesetas                                 -NOK Norwegian Kroner
 
 
 

CALENDAR OF THE  EMU IN THE EUROPEAN PARLAMENT:
 

- 1990 July 1:
  Beginning of the first phase of the Economic and Monetary Union.

- 1993 January 1:
  Full realization of the unique market.

- 1994 January 1:
  Beginning of the second phase of the EMU. Creation of the European Monetary In (IME) in Frankfurt.

- 1995 May 31:
  The Commission adopts the Green Book on the unique currency.
          December 15 and 16:
  The European Council of Madrid confirms the name of <<Euro>> for the unique currency.

- 1997  June 16 and 17 :
  European Council of Amsterdam. Final agreement on the juridic frame for the use of  Euro.

- 1998  May 3:
  The European Council meets in Brussels to set the countries of the Euro area and establishes the equivalences among the European currencies.

- 1999 January 1:
  Beginning of the third phase of the EMU. The council will fix the conversion Types.
           May 14:
  First vote in the plenary session of the members of the ECB
        June 3:
  The Economic and Monetary Commission of the EP writes  a report on the legislation acts derived for the  setting in March of the ECB Council in Brussels .
          June 15 and 16:
 European Council of Cardiff. The EP votes in plenary session the report on the legislation acts for the setting in March of the ECB.

___________________________________

Back