The Euro

On January 1, 2002, more than 300 million European citizens saw the euro turn from a virtual currency into reality. The entry into circulation of euro notes and coins means that European Monetary Union (EMU), a project devised by Europe's political elite over more than a generation, finally came down to the street. The psychological and economic consequences of the launch of Europe's single currency will be far-reaching. It will mark the final break from national currencies, promising …

…the sharing of executive seats and the composition of the governing council, may also be revised as the EU proceeds with enlargement to Central and Eastern Europe. After a turbulent decade, the euro is entering the post-Maastricht era, when it will become the currency of choice not just for the twelve-member ebro zone but also for many of the EU's neighbors. The next chapter in a process of truly historic proportions is about to begin.