The Euro: 10 Years

From Deutsche Welle:

"Euro cash 'celebrates' tumultuous 10th anniversary"

On January 1, 2002, the euro single currency was introduced in 12 European countries. A decade later, views vary widely on whether the common currency has been a success or a failure. Exactly 10 years ago, the euro was introduced as a common currency in 12 European countries. Starter kits were handed out to people ahead of the euro introduction so that they could become familiar with the new coins. The euro notes and coins were formally launched as a currency in the eurozone on January 1, 2002. Anyone doing business in dollar-based regions or vacationing there, of course, is interested in the strength of the euro, but most people are concerned with its stability. Especially in Germany, the euro was viewed initially as a currency that pushed prices up. And it is still seen so today by many consumers, although the statics speak another language. In the 10 years of the euro, inflation in the eurozone has been lower than it was when the deutschmark was the official currency. Economists largely agree that the euro is also not the cause of the financial problems in several eurozone countries.

^ I remember flying to Russia from Amsterdam on KLM in January 2002 and buying something so I could use Euros for the first time. I have since been in many Eurozone countries and have used in many times without thinking. The Euro is a good idea, but was implemented wrong. There was no real oversight in which countries were ready and stable enough to change currencies (ie Greece, Portugal, Italy, Spain, etc.) Now, 10 years later, what many European leaders had once said was unthinkable - a country leaving the Eurozone - now seems very possible in the near future. It will be interesting to see which countries are forced to leave and which ones leave on their own. A trip to a country that leaves the Eurozone will probably be very cheap for Americans and other non-Euro using countries. It will also be nice for me since I like collecting foreign currencies and there will be new ones for me to collect. ^

http://www.dw-world.de/dw/article/0,,15612914,00.html