Ten years ago Europe’s newest single currency, the Euro, began trading. It was its start as a global financial power and it took three more years for the simultaneous conversion of eleven European currencies into euro notes and coins. In some countries the farewell to their own currencies was more painful than in others but nowadays hundreds of millions of Europeans use euros. The currency is now solid and its value as an international reserve currency is growing. In these days of financial instability, recessions across the European continent are testing its monetary union. As job losses mount and businesses go under, criticism of the euro and the European Central Bank can be expected to grow and in those countries with more problems many may begin to question whether euro membership was such a wise idea. Nevertheless, most Europeans seem to be content with having just one currency and few think it will disappear. Specially after a year like the last when the euro became much stronger than the historical most powerful currency, the dollar.
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