Eurozone
The euro area, commonly called the eurozone (EZ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies.
Some of the key events about Eurozone
- 1992The Maastricht Treaty was signed, laying the foundation for the Eurozone
- 1992The Exchange Rate Mechanism crisis led to several countries withdrawing from the system
- 1999The euro was introduced as an accounting currency for non-cash transactions
- 2002Euro banknotes and coins entered circulation in 12 European Union countries
- 2007Slovenia became the first country to join the Eurozone after the initial group
- 2008The global financial crisis severely impacted Eurozone economies
- 2009The Eurozone successfully weathered the global financial crisis
- 2009Greece revealed its budget deficit was much larger than previously reported, triggering the European debt crisis
- 2010Ireland received an €85 billion bailout due to its banking crisis
- 2011Estonia adopted the euro, becoming the 17th member of the Eurozone
- 2011Portugal requested a €78 billion bailout to address its financial troubles
- 2012Spain's banking sector required a €100 billion rescue package
- 2013Cyprus faced a severe banking crisis, leading to a controversial bailout agreement
- 2014The European Central Bank introduced negative interest rates to stimulate economic growth
- 2015Lithuania joined the Eurozone, bringing the total number of member states to 19
- 2015Greece imposed capital controls and closed banks amid fears of a Eurozone exit
- 2016The Brexit referendum result caused economic uncertainty in the Eurozone
- 2017The Eurozone economy grew at its fastest pace in a decade
- 2020The Eurozone implemented a massive economic recovery package in response to the COVID-19 pandemic
- 2020The COVID-19 pandemic led to a severe economic contraction across the Eurozone
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
Eurozone Latest news
Popular
Kim Jong Un explains why North Korea needs more nuclear weapons
Trump's Cabinet picks face different paths as old allegations surface
NYC power grid heading for trouble: Grid operator shares concerning forecast
Trump's cabinet picks face different paths as old allegations surface
