Press Release: Euro notes and coins – 10 years on

1 January 2002 marked the introduction of euro notes and coins in the European Union, ushering in an unprecedented alignment of monetary policies and closer cooperation between countries of the euro area.

Whilst the euro and Economic and Monetary Union provided a sound basis for economic progress, the banking crisis of 2008 and its consequences have tested the system to the full. The success of the euro has proven to be dependent on sound and sustainable public finances and robust macroeconomic policies.

The basis for recovery already exists with the recently strengthened EU rules on economic governance and surveillance. It is being further reinforced through a 'Fiscal Compact' agreed by EU leaders in the pursuit of budgetary discipline and reinforced economic policy coordination and governance throughout the eurozone.

European Commission: Memo/11/945: Euro notes and coins – 10 years on http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/945&format=HTML&aged=0&language=EN&guiLanguage=en

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