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The Euro - the New United European Currency

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  • Tontcho Tontchev

Abstract

The short following of the evolution development of the functional mechanism of the European currency system (ECS) and of the European unit of account – EKU, gives opportunity for revealing of the objective conditions and premises for more effective and acting coordination of the economic and currency policy of the EU countries. On this basis are interpreted the actual problems of the transition to economic and currency union (ECU) and the replacement since 01.01.1999 of the existing collective currency unit EKU with new united European currency – Euro. Mentioned are the concrete stages in the creation of ECU, analyzed are the phases of introducing the Euro and its turning on 01.01.2002 from “ideal” into real currency in the Euro zone. Interesting are the questions connected with the symbols, the technical characteristics and the defensive techniques against falsification of the new European money.

Suggested Citation

  • Tontcho Tontchev, 2002. "The Euro - the New United European Currency," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 88-105.
  • Handle: RePEc:bas:econth:y:2002:i:2:p:88-105
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    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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