Euro History


Euro History

# History of world currencies

How world wars led to the creation of the Euro

The Eurozone is a German intelligence product.

Germany suffered two consecutive defeats in world wars. Berlin wants its world currency, but does not have time. USA in the place of the justice of the peace, policeman and treasurer. A weakened FRG enlisted the support of sworn friends – England and France, and in 1957 created the EEC – the European Economic Community. EEC creates a memorandum on a unified financial policy of member countries.

The 1972 crisis interferes with plans.

In 1979 , the ECU currency was created by the name of the French coin.

In 1992 , the Maastricht Treaty was adopted with ECU requirements for countries: inflation is not higher than 1.5% of the level of the 3 most stable EU countries; budget deficit no higher than 3% of GDP.

The ECU was abolished by 1998 after the announcement of the successor – the euro at the Madrid summit in 1995 .

The merit of the European Institute of Finance, created a year earlier.

The euro takes up a third of the interbank exchange in SWIFT, the dollar is above 40%. A quarter of world savings in euros.

Euro is the official currency of 19 countries of the Eurozone and over 340 million Europeans.

Euro – reserve currency since 1998 , inherited the share of the brand and franc.

On June 1, 1998 , the European Central Bank (ECB) was established, headquartered in Frankfurt am Main, Germany. The bank is trying to leave the euro with world currency, but it is being squeezed by the ruble and the yuan.

And England leaves the EU. Former Fed Chairman Alan Greenspan believes the euro could replace the US dollar.

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