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The European Central Bank is closely monitoring the circulation and stock of the euro coins and banknotes. It is a task of the Eurosystem to ensure an efficient and smooth supply of euro notes and to maintain their integrity throughout the euro area. [39] In December 2023, there were 4,858,043,996 €20 banknotes in circulation around the Eurozone.
There are seven different denominations of euro banknotes: €5, €10, €20, €50, €100, €200, and €500. Each has a distinctive colour and size, [17] and displays examples of a historical European architectural style: [17] [18] windows or gateways on the obverse, and bridges on the reverse.
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 (symbol: €; currency code: EUR) is the official currency of 20 of the 27 member states of the European Union. This group of states is officially known as the euro area or, more commonly, the eurozone. The euro is divided into 100 euro cents. [6] [7]
Below is a list of European countries and dependencies by area in Europe. [1] As a continent , Europe's total geographical area is about 10 million square kilometres. [ 2 ] Transcontinental countries are ranked according to the size of their European part only, excluding Greece due to the not clearly defined boundaries of its islands between ...
The 20 euro cent coin (€0.20) has a value of one-fifth of a euro and is composed of an alloy called Nordic Gold in the Spanish flower shape. All euro coins have a common reverse side and country-specific national sides. The coin has been used since 2002, with the present common side design dating from 2007.
The euro area, [8] 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. The 20 eurozone members are:
The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe. [11] For the first three years of its existence it was an invisible currency, only used in accountancy. euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the French franc and the Spanish peseta.