EUR (Euro)

EUR/Euro appeared on the 1st of January 1999 and united 11 European countries into one powerful economic alliance that deal with the fifth part of all goods and services produced in the world trade. The Euro-region (“Eur-area”) consists of: Austria, Belgium, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, Finland and France and occupy the territory of 2365000 square kilometers with population of 291 million people (there are 269 millions in USA and 126 millions in Japan).

The creation of united European currency is undoubtedly the greatest financial experiment in history as there was no success in attempts to create economical unions before that.

The table below demonstrates cross-rate values of 11 currencies fixed on the 31st of December 1998.

Currency Units for 1 Euro
Deutsche mark 1.95583
French franc 6.55957
Italian Lira 1936.21
Spanish peseta 166.386
Portuguese escudo 200.482
Finnish Markka 5.94573
Irish pound 0.787564
Belgian / Luxembourg Franc 40.3399
Dutch Guilder 2.20371
Austrian schilling 13.7603