1998-2009 : Single currency
From 1998 to 2009
The common currency was adopted in May 1998. The governments committed to respecting the common rules intended to maintain monetary stability. Eleven countries fulfilled the requirements to join the Euro group.
Euros entered into circulation through the ECB in Frankfurt on 1 January 2002. With initiatives such as Erasmus, which had already sent millions of students in university exchanges, Europe wanted to encourage a true spirit of citizenship.
But despite its role in the Eastern countries’ evolution towards democracy, the Union faced protests both from alter-globalization groups and the defiance of citizens who no longer believed in its plans for the future.