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Euro Timeline

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Euro Timeline • Euro-Chronik


The timeline or Chronik below reveals the history of the euro and its impact on Europe and the world. Notice how the euro's history is closely tied to the development of European unity in general. A German version (Euro-Chronik) of this page is also available. After you have read the timeline and the preceding page you'll be ready to take our Euro-Quiz!


Euro Facts
and Figures
1 euro (€ - EUR) =
13.7603 ÖS
Austrian schillings (ATS)
1.95583 DM
German marks (DEM)
 
   The euro rates above and for the other national currencies of each euro zone country were permanently set just before midnight on the last day of 1998, on the eve of the euro's debut on the first day of 1999.
 
The Euro's
Designer
 
   The Austrian graphic designer Robert Kalina designed the euro banknotes on a Power Macintosh computer using Adobe Photoshop and Macromedia Freehand software. Kalina graduated from Vienna's School of Graphic Arts in 1975. His designs were chosen in a 1996 competition that specified strict requirements for the new money's look and security features. Kalina, an engraver at the Austrian National Bank, had only six months to complete the final designs for each of the seven euro bills in denominations of 5, 10, 20, 50, 100, 200 and 500 euros, each with its own architectural theme (classical, baroque, romanesque, etc.).
 
The Euro's
Design
 
   Each banknote has its own design, size and color scheme. The size of the paper money increases from the smaller 5-euro bill up to the larger 500-euro bill (to help the blind).
 
5 euro - grey
10 euro - red
20 euro - blue
50 euro - orange
100 euro - green
200 euro - ochre
500 euro - mauve
 
   One euro equals 100 cents. The euro coins were designed by Luc Luycx of the Belgian mint. The front (obverse, head) side is the same in all countries. Unlike the bills, which have the same design in all countries, the coins' reverse side is unique to each country. (The German 10, 20 and 50-cent coins, for example, feature the Brandenburg Gate.) Euro coins are minted in the following denominations: 1, 2, 5, 10, 20, 50 cent; one and two-euro coins.
 
Deutsche Version dieser Seite.
1946
Following the devastation of WWII, Winston Churchill calls for the “United States of Europe.” - but without Great Britain.

1947
As a result of the Bretton Woods (New Hampshire, USA) agreement of 1944, the International Monetary Fund (IMF) opens for business and a fixed rate of exchange is set between the US dollar and other world currencies, based on the gold standard.

1948
The Allied currency reform of June 20 creates the Deutsche Mark (DM).

1951-1952
On the initiative of Robert Schuman and Jean Monnet of France, the European Coal and Steel Community (ECSC) is founded by six countries: Belgium, France, Italy, Luxemburg, the Netherlands and West Germany. The ECSC treaty (Montanunion) goes into effect on June 25, 1952. The ECSC would become the basis for the future “Common Market” (EEC, EC) and European Union (EU).

1957-1958
On March 25, 1957 the same six countries sign the Treaty of Rome, thereby creating the European Economic Community (EEC) and the European Atomic Energy Community (EURATOM). The “Common Market” agreement goes into effect on Jan. 1, 1958.

1967
In July the European Community (EC) is formed by the merger of the ECSC, EEC and EURATOM.

1968
In July the Tariff Union (Zollunion) abolishes all tariffs and import restrictions between EC countries and introduces a single tariff rate for trade between EC and non-EC countries.

1969
Leaders of the EC countries propose a three-stage economic and currency union to be formed over ten years. The so-called “Werner Plan” is named for Luxembourg's Pierre Werner.

1971
The Werner Plan is approved but fails with the collapse of the Bretton Woods system that had gone into effect in 1947. The US abandons the gold standard and worldwide fixed exchange rates.

1972
The EC countries establish the European Currency Cooperative. Exchange rate fluctuations among EC currencies are limited to a range of 2.25 percent above or below set rates. Sept. 26: Norwegian voters reject EC membership.

1973
Following the entry of Denmark, Great Britain and Ireland, the EC now has nine member states.

1974
The Council of Europe becomes a permanent institution, agreeing to hold regular summit meetings of EC leaders.

1979
March: Creation of the ECU (European Currency Unit) as an artificial currency, a composite of national currencies in the new European Monetary System (EMS). June 7-10: First direct elections of members of the European Parliament.

1981
Greece joins the EC.

1986
Spain and Portugal become EC members.

1989
November 9: The Berlin Wall opens, paving the way for German reunification in 1990.

NEXT > Euro Timeline: 1990-2007


Euro & Money Glossary
An annotated English-German glossary.

Euro-Chronik - Deutsch
The same euro facts and chronology on this page - in German.

NEXT > 1990-2007 - 1 | 2 | 3 | Euro-Quiz


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