EU monetary cooperation
The Economic and Monetary Union involves the coordination of economic and fiscal policies, a common monetary policy and the euro as the common currency. The euro was launched on 1 January 1999 as a virtual currency for cash-less payments and accounting purposes. Banknotes and coins were introduced on 1 January 2002.
Which countries use the euro?
The euro (€) is the official currency of 19 out of 28 EU member countries. These countries are collectively known as the Euro area.