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Of the 15 national currencies originally tied to the euro (including the currencies of Vatican City, Monaco and San Marino), the Irish pound was the only one whose conversion factor was less than 1, i.e. the unit of the national currency was worth more than one euro – almost EUR 1.27 in this case. Euro Changeover Board of Ireland calculator
Irish euro coins all share the same design by Jarlath Hayes, that of the harp, a traditional symbol for Ireland since the Middle Ages, based on that of the Brian Boru harp, housed in Trinity College Dublin. The same harp is used as on the official seals of the Taoiseach, and government ministers and the seal of the president of Ireland.
All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here. In Europe, the most commonly used currency is the euro (used by 26 countries); any country entering the European Union (EU) is expected to join the eurozone [ 1 ] when they meet the five convergence criteria. [ 2 ]
The euro remains underweight as a reserve currency in advanced economies while overweight in emerging and developing economies: according to the International Monetary Fund [81] the total of euro held as a reserve in the world at the end of 2008 was equal to $1.1 trillion or €850 billion, with a share of 22% of all currency reserves in ...
In 2007, Ireland issued a €2 common coin for general circulation, together with the others countries of the Eurozone, commemorating the fiftieth anniversary of the Treaty of Rome followed by a €2 common commemorative coin in 2009 celebrating the tenth anniversary of the birth of the euro currency in 1999, by another €2 common ...
The euro became the currency of the eurozone countries, including Ireland, on 1 January 1999. As with all eurozone countries, Ireland continued to mint its own banknotes after the currency changeover to the euro. Previously issued Irish banknotes circulated concurrently with the newer Irish-minted euro denominated banknotes.
The euro came into existence on 1 January 1999. [2] It had been a goal of the European Union (EU) and its predecessors since the 1960s. [2] The Maastricht Treaty entered into force in 1993 with the goal of creating economic and monetary union by 1999 for all EU states except the United Kingdom and Denmark (even though Denmark has a fixed exchange rate policy with the euro).
The euro was established in 1999, but "for the first three years it was an invisible currency, used for accounting purposes only, e.g. in electronic payments". [2] In 2002, notes and coins began to circulate. The euro rapidly took over from the former national currencies and slowly expanded around the European Union.