THE EURO'S TENTH ANNIVERSARY
Dick Johnson submitted this item on another anniversary – the tenth year of the Euro. –Editor
The euro –– with all its numismatic moneyifications of coins and currency –– is ten years old January 1st. Europe's single currency is "an unquestioned part of daily life for 330 million people in sixteen countries" according to a recent article –– Slovakia joined the first day of 2009.
With economic issues aside, how has the new currency effected the daily life of Europeans? Here are some of the recent factors:
- Euro coins are now circulated almost as widely as ancient Rome's denarius –– the first truly Pan-European coin.
- Half of French citizens still think in francs for every transaction in Euros.
- In several regional areas of Germany somewhat of a regional currency is in use –– shades of German State coinages of yore.
- Many countries are considering abolishing their lowest euro denomination coin or two because of entropy - they are just not viable in modern commerce. Much like other countries around the world which are abandoning their lowest coin, Europe's one-euro coins are destined to become extinct.
Still euro coins and paper money are serving well the purpose of a circulating medium for most of Europe. It is a compliment to the European Currency Union for their creation now with a decade of utility behind them.
"Currency unions come and go, typically revolving around one dominant power," states that same article. "The euro is a different animal. It has no political anchor. It is a leap into the unknown without a state, treasury, debt union, or EU social security net to back it up."
But economics dominates the discussion of any euro history, as does the long article below, which is chosen for its birthday celebration.
To read the complete article, see: The euro's bitter-sweet triumph at 10 (http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard
Wayne Homren, Editor
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