Money in Europe
The euro is used in Europe. In 1992 was decided to use the euro. First they want to call it the ecu, but the German didn’t like that name. They thought the euro sounds better. Almost all of the countries that are in the European union use the euro. The countries liked the idea that they had one coin to pay in the whole European union. Apart from England. In 2002 the euro was introduced. England is in the European union but they didn’t use the euro. They use the British pound. Switzerland is almost in the middle of Europe, but they aren’t at the European union so they won’t use the Euro. In Switzerland they use the Swiss Franc. The Swiss Franc is also used in Liechtenstein.
The Netherlands had the guilder. The guilder was used till 2002. One guilder was about 45 euro cent. In the Netherlands they decided to use the euro. It was signed in Maastricht.
In Italy they used the Italian Lira. Also in 2002 the lira was changed for the euro. The Exchange rate is 1 euro was 1936 lira. It was a big difference between the lira and the euro but when Italy went by the European union they had to use the euro. There were coins of 5, 10, 50, 100, 200, 500 and 1000. They also had banknotes of 1000, 2000, 5000, 10.000, 50.000, 100.000 and 500.000.
Before the euro Germany used the German mark. They use it for 52 years, since 1948 till 2002. 1 euro was about 2 German mark. There are two countries who used the German mark, too. These countries were Kosovo and Montenegro.
Spain used the Spanish peseta before the euro. It was used in Spain and Andorra. 1 euro is the same as 166 pesetas. It was used since 1869. The word peseta comes from the Catalan word Pesseta and it means part or piece.
Norwegian Krone, Swedish Krona and Markka
Norway and Sweden are in Europe, but they aren’t in the European union. Norway have the Norwegian krone it is used since 1875. One Norwegian Krone is 0,1 euro. That’s a big difference. In Sweden they use the Swedish Krona. The exchange rate is one swedish krona is 0,1 euro. You should think Finland isn’t at the European union because Norway and Sweden aren’t that too, but Finland really is at the European union. When they didn’t had the euro. They had the Markka. One euro is 6 Markka.