Eurozone Fast Facts
Here’s a look at the eurozone.
Nineteen countries in the European Union use the euro as their currency, and comprise the eurozone.
Facts
The countries in the eurozone as of 2020 are: Austria , Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, The Netherlands, Portugal, Slovakia, Slovenia and Spain.
January 1, 1999 – The euro is introduced.
– Annual budget deficits must not exceed 3% of gross domestic product.
– Public debt must be under 60% of gross domestic product.
– The country must have exchange rate stability.
– Inflation rates must be within 1.5% of the three EU countries with the lowest rate.
Eurozone Fast Facts - ABC17NEWS
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What s stopping the ECB firing its bazooka?
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by Philipp Bagus via Mises
Twenty-five years ago, on December 15, 1995, the fifteen heads of state and government of the then EU decided at a council meeting in Madrid to name the future common currency the “euro” and to introduce it from January 1, 1999, initially as a book currency at a fixed exchange rate. The actual introduction of cash took place in 2002. Denmark, Great Britain, and Sweden, however, retained their national currencies and still do today.
Poland, the Czech Republic, and Hungary, which joined in 2004, also stubbornly resisted giving up the złoty, koruna, and forint for the euro. From the beginning, there were two competing views on what kind of fiat currency the European Central Bank’s (ECB) money should be.1 The euro was sold to a skeptical German public as the successor to the Deutsche mark. The common currency was not to be used to directly finance government budgets. Many Germans feared that they would have to pay for the high debts of the souther