Euro - Live Exchange Rates
Launched in 1999 the Euro is the sole currency used in the 17-nations that comprise the Eurozone single currency bloc.
The countries in the Eurozone are as follows; Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. In 2014, Latvia will also become a member of the Eurozone taking the total number of nations using the currency to 18. Several other nations will introduce the currency at some point in the future. Several European nations however refrained from adopting the currency; Switzerland, the UK and Denmark are some of those that opted out.
The main advantage of the Euro is that allows people and goods to travel from country to country with minimum difficulty as they no longer have to exchange currency for every member nation they visit or trade with.
Thanks to the number of nations that use the currency the Euro has become the second largest reserve currency in the world after the US Dollar. It is also the second most traded currency. Since 2002 the Euro has been managed by the European central bank based in Frankfurt and the Euro system which is comprised of the central banks of the member states.
Because of its common use in Europe it makes the region an ideal place to visit for minimum currency exchange fuss. The Euro has come under a lot of scrutiny in recent years due to the Euro crisis. Some economists brand the Euro as fundamentally flawed and the ECB and other institutions are pushing for greater fiscal union between Eurozone members to allay some of those flaws. Some say that the currency’s is fundamental flaw is that its creators did not take into account the differing sizes of the member nations economies and those were allowed to use the currency tweaked their figures to gain access.
As a result of the lack of a true banking union the Euro looks likely to remain the cause of Europe’s troubles until the currency bloc is either disbanded or a full monetary union is created.
Despite its problems the Euro allows you to visit the coliseum in Rome, Italy one day, and then the Eiffel tower in France the next, all without the need to exchange currency.
To get a live quote for exchanging funds to Euros please call 01455 897 874 or order online.