Belgium, The Euro Turn

Every country needs a safe, durable and easy to use means of payment.

As from 1832, Belgium used thè frane as its currency.
The responso was the introduction of the European Monetary System (EMS) in 1979, based on thè new European Currency Unit (ECU).

The next step carne in 1990 with the establishment of thè Economie and Monetary Union (EMÙ). The ultimate goal was to introduce a single currency in the EU mem­ber states.

Economie efforts were demanded of ali candidates for accession to thè System. In December 1991 the EU member states signed thè Treaty of Maastricht, thus accepting the idea of a single European currency, which was given thè name "euro" in December 1995.

On 1 January 1999 each acceding member state pegged its national currency to thè euro, creating a de facto currency union. In Belgium, one euro was worth 40.3399 francs. The Belgians were asked to hand in their coins between 15 October and 15 November 2001. T

he first euro mini-kits worth 500 francs went onsaleon 15 December 2001. 1 January 2002 was an importantday forthegreat European dream, as thè euro notes and coins became legai tender. On 28 February 2002 a dozen EU member states voted to adopt the euro as the only legai means of payment. Since that date the European Union has strengthened its economie and politicai position compared with superpowers like the United States and Japan.

Daily life has changed radically since the introduction of the euro. A whole generatori had to learn how to count and pay in euros and cents. And you cari now pop over the border to Amsterdam, Paris or Cologne without having to buy forex.

That's ali thanks to the euro.

Data issue: 19/01/2009

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