Changes

[[Image:Euro banknotes.png|right|thumb|Euro banknotes|300px]]

[[Image:Euro banknotes.png|right|thumb|Euro banknotes|300px]]

The '''euro''' is the common [[currency]] in the Eurozone (a group of 17 [[European Union]] member states with a population of 320 million), five other states with formal agreements to use it, and four others without formal agreement. Use of the euro began in January 2002, and 12 nations switched their currency immediately to the euro. There was more than €610 billion in circulation in December 2006 (worth US$802 billion at the time), hence the euro has the highest value of cash in circulation in the world, having surpassed the U.S. dollar.<ref>{{cite web| last = Atkins| first = Ralph| title = Euro notes cash in to overtake dollar| publisher = Financial Times|date=2006-12-27| url = http://www.ft.com/cms/s/18338034-95ec-11db-9976-0000779e2340.html| accessdate = 2007-05-04}}</ref>

The '''euro''' is the common [[currency]] in the Eurozone (a group of 18 [[European Union]] member states with a population of 320 million), five other states with formal agreements to use it, and four others without formal agreement. Use of the euro began in January 2002, and 12 nations switched their currency immediately to the euro. There was more than €610 billion in circulation in December 2006 (worth US$802 billion at the time), hence the euro has the highest value of cash in circulation in the world, having surpassed the U.S. dollar.<ref>{{cite web| last = Atkins| first = Ralph| title = Euro notes cash in to overtake dollar| publisher = Financial Times|date=2006-12-27| url = http://www.ft.com/cms/s/18338034-95ec-11db-9976-0000779e2340.html| accessdate = 2007-05-04}}</ref>

==Creation==

==Creation==

In January 1999 the exchange rates of countries that had passed the criteria (and were not exercising an opt-out) were fixed to the euro.  The European Central Bank (ECB) came into being. Euro coins and notes were introduced to the general public on the 1st of January 2002 as legal tender, alongside national currencies. In March 1998, when the calculations in countries that had met the convergence criteria were finalised, eleven countries were admitted to join the European Monetary Union: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain. In June 2000 Greece was admitted. Slovenia joined in 2007, and Malta and Cyprus joined in 2008. Since 2011 the Euro is the currency of [[Estonia]]. On January 1, 2014 the Euro will be imported in [[Latvia]].

In January 1999 the exchange rates of countries that had passed the criteria (and were not exercising an opt-out) were fixed to the euro.  The European Central Bank (ECB) came into being. Euro coins and notes were introduced to the general public on the 1st of January 2002 as legal tender, alongside national currencies. In March 1998, when the calculations in countries that had met the convergence criteria were finalised, eleven countries were admitted to join the European Monetary Union: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain. In June 2000 Greece was admitted. Slovenia joined in 2007, and Malta and Cyprus joined in 2008. Since 2011 the Euro is the currency of [[Estonia]]. On January 1, 2014 the Euro was imported in [[Latvia]].

==Criteria for adoption==

==Criteria for adoption==