Adaptation of the Euro
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Countries that use the Euro
Over the last several decades, the entire world has observed while a number European countries made the transition to a single, shared currency.
- San Marino
- Vatican City
Intense media focus occurred in January 2002, when the member countries began to use the new currency in its material form, after several years of applying the unit of the Euro as an exchange rate to extant regional monies. Understandably, the transition to the new paper currency signaled the most tangible, readily observable change to the daily lives of the European citizenry.
Media Attention and the Euro
However, despite the sharply focused media attention during this period, the advent of the shared currency has actually been a slowly developing process that has gradually unfolded over the last several decades. Economists and historians alike point out that events as far back as the era of World War II must be considered when analyzing the conditions that eventually gave rise to the adoption of a shared currency in much of Europe. Clearly, the historical roots and the contemporary implications of the shared currency are much more complex and far-reaching than the change in the appearance of currency that went into effect at the broad array of ramifications that have resulted from the implementation of the euro. While the most obvious differences occurred in the way that business and financial transactions are conducted throughout Europe, these changes have engendered numerous consequences that have the potential to impact the global economy as a whole, as well as the sociocultural parameters of the international community.