1999
EUROPE
EURO DEBUT
On this day in 1999: for the first time since Charlemagne's reign in the ninth century, Europe is united with a common currency when the "euro" debuts as a financial unit in corporate and investment markets. Eleven European Union (E.U.) nations (Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain), representing some 290 million people, launched the currency in the hopes of increasing European integration and economic growth. Closing at a robust 1.17 U.S. dollars on its first day, the euro promised to give the dollar a run for its money in the new global economy.
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