Euro
Definition
The Euro is the name of the European single currency created by the Maastricht Treaty. Although it has only been in circulation since 1st January 2002, it has existed since 1999, the date when the exchange rates were pegged between the currencies of the 11 countries in the Euro Zone. The number of these countries then increased to 12 with the arrival of Greece in January 2001, to 13 with Slovenia in 2007, to 15 with the arrival of Cyprus and Malta in 2008, to 16 with the arrival of Slovakia in 2009 and to 17 with Estonia in January 2011.
The Euro is managed by the European Central Bank.
