EU virtual currency
Publish: 2021-05-07 20:18:34
1.
The main currency in Europe is the euro
euro is the currency of 19 countries in the European Union. The 19 member states of the euro are Germany, France, Italy, the Netherlands, Belgium, Luxembourg, Ireland, Spain, Portugal, Austria, Finland, Lithuania, Latvian, Estonian, Slovak, Slovenian, Greek, Maltese and Cyprus
The euro became the only legal currency in the euro area in July 2002. The euro is managed by the European central bank system, which consists of the European Central Bank and the central banks of the euro area countries. In addition, the euro is also the currency of six non EU countries (regions), namely, Monaco, San Marino, Vatican, Andorra, Montenegro and Kosovo. Among them, the first four pocket countries use the euro according to the agreement with the EU, while the latter two countries (regions) use the euro unilaterally 
extended data:
euro is the most significant result of European monetary reform since the Roman Empire. The euro not only makes the European single market perfect and the free trade among euro zone countries more convenient, but also is an important part of the process of EU integration
although Monaco, San Marino and the Vatican are not EU countries, they also use the euro because they used the French franc or Italian lira as their currency, and they are authorized to mint a small amount of their own euro coins. Some non EU countries and regions, such as Montenegro, Kosovo and Andorra, also use the euro as a payment tool
the euro is managed by the European central bank system, which is composed of the European Central Bank and the central banks of the euro area countries. The European Central Bank, headquartered in Frankfurt, Germany, has the power to formulate monetary policy independently. The central banks of euro zone countries participate in the printing, casting and issuing of euro notes and euro coins, and are responsible for the operation of the euro zone payment system
source of reference: Internet Euro
2. The reason why the EU wants to implement a unified currency is to enhance the political and economic status of European countries. Before World War II, with its strong economic strength as the backing, Europe once dominated the world for a long time. After World War II, the status of European countries in the world declined significantly. With the implementation of the European Renaissance plan, European countries increasingly hope to unite politically and economically to compete with the United States, Japan and other economic powers. From the European Community in 1958 to the European Union in 1991, the economic cooperation among European countries has been deepening. Accordingly, the desire of EU countries for economic cooperation is becoming stronger and stronger
1. From the perspective of economic interests
from the perspective of economic interests, the implementation of a unified currency will bring the following benefits to EU countries
(1) enhance their own economic strength and competitiveness
in the future, the GDP and foreign trade volume of the euro area will be higher than those of the United States and Japan. After the launch of the euro, the joint promotion of the unified currency and the unified market will undoubtedly bring new economic growth, making the EU in a favorable position in the competition with the United States, Japan and other economic powers
(2) rece internal contradictions, prevent and resolve financial risks
in the trend of economic competition becoming increasingly global, regional and group, the unified currency is one of the most powerful weapons. The European Union is the most integrated regional group in the world, but it still lacks the ability to resist the impact of domestic market turbulence. The Mexican Peso Crisis in 1995 and the Japanese yen crisis in 1996 once led to the decline of EU economic growth, the decline of exports and the decrease of employment. Facts have proved that under the floating exchange rate mechanism of the European Union, the values of the multi-national currencies are different, and the differences in interest rates and the changes in exchange rates have caused the chaos of the internal financial order of the European Union. After the euro is officially used as a single currency, the above problems will naturally be greatly alleviated
Michael Firth, an economist at Morgan Stanley in London, pointed out that EMU's plan is rable and has shown the advantages of this system in the Asian financial crisis. In the past, Europe could not survive such storms
(3) simplify the circulation proceres and rece the cost
the use of Euro not only simplifies the proceres, saves time and speeds up the circulation of goods and funds, but also reces the exchange and commission losses of nearly 30 billion US dollars, making EU enterprises invisible to rece costs and enhance their competitiveness. With the rise of Euro status and the development of European capital market, the capital cost of member countries will also decline, which is concive to investment and economic growth
(4) increase social consumption and stimulate enterprise investment
in the EU, although a unified market has been established, the same resources, goods and services show different prices in different countries e to the existence of multiple currencies. If this phenomenon persists for a long time, it will distort the instrial structure and investment structure of various countries, which is not concive to the rational development of the big market. If a single currency is implemented and the European Central Bank (ECB) formulates and implements a unified monetary policy, the differences in prices, interest rates and investment interests among countries will graally narrow or tend to be consistent, resulting in the overall decline of prices and interest rates, the expansion of residents' social consumption, and the improvement of enterprise investment environment, which will ultimately be concive to the sound development of the EU's overall economy
2. The impact of single currency
it is generally believed that the adoption of single currency can improve economic interdependence and facilitate international trade between euro countries. In theory, this is good for the people of the euro area, and historically, the growth of trade is one of the main drivers of economic growth. In addition, it is in line with the long-term goal of establishing a unified market among the EU. Another major benefit is the elimination of bank transaction fees. In the past, whether for indivials or enterprises, it was a major cost to convert the local currency into foreign currency. On the contrary, banks will have to bear the corresponding loss of profits
the second effect of the single currency is that the differences in price levels among countries will be reced. Because the price difference will lead to arbitrage behavior, the commodity will flow from the low price area to the high price area, which makes the prices of different regions in the euro area tend to be consistent. This will also lead to increased competition among enterprises, help control inflation and benefit consumers
some economists believe that the use of a single currency in such a large and different region is harmful. They believe that since monetary policy and interest rate levels in the euro area are determined by the European Central Bank, countries will not be able to adjust their economies according to their own conditions But before the implementation of the euro, since the European monetary crisis in the 1990s, the changes of interest rates in various countries have been very close to synchronization.) Public investment and fiscal policy will become the only means for governments of various countries or regions to intervene in the economy
there are also views that although the size and population of the euro area are similar to those of the United States, where the Federal Reserve is responsible for setting interest rates and monetary policy. However, compared with the EU countries, the autonomy of each state in the United States is smaller and the economic similarity is greater. Moreover, the economies of EU countries are not "synchronized". Some countries are at the bottom of the economic cycle, while others are at the top. Different countries are also facing different inflationary pressures. Due to the differences in language and culture among European countries, the mobility of labor in the euro area is also much lower than that in the United States
there are also views that the reason why the United States can adopt a single currency is that the US dollar is the dominant currency in the world. Before the euro, 80% of the world's foreign exchange reserves were in the form of US dollars. This gives the U.S. economy a huge "subsidy" because reserve dollars is equivalent to investment in U.S. institutions or foreign institutions controlled by the United States. This "subsidy" helps to cushion the impact of the adoption of the single currency in specific regions of the United States
if the euro can replace the US dollar or become the major international currency together with the US dollar, some of the "subsidies" to the US will be transferred to the euro area, which can help solve the problems caused by different economic structures
some people think that the euro will bring huge volatility to the European financial market, because governments and enterprises can borrow the euro instead of their own currency, which makes the source of funds in the market increase greatly
3. Euro and oil
euro will have a significant impact on oil prices. The euro zone imports more oil for consumption than the US, which means that the euro will flow more than the US dollar into OPEC countries that do not price oil only in US dollars. OPEC also often talks about pricing oil in Euro, which requires oil importing countries to reserve Euro instead of US dollar for oil import. Although most of Venezuela's oil is exported to the United States, Venezuelan President Hugo ch á Vez) has declared support for the plan. Another supporter of the plan is the late former Iraqi President Saddam Hussein, who has the second largest oil reserves in the world. Since 2000, Iraq has begun to use Euro when exporting oil. In 2002, Iraq converted its US dollar reserves into euro. A few months later, the United States decided to go to war against Iraq and then invade its territory. If OPEC carries out this plan, the euro zone will receive the "subsidy" originally obtained by the United States. Another important influence of pricing oil in euro is that the change of oil price in euro area will be closely related to the world oil price. When the price of crude oil soared to $50 a barrel in September 2004, the price of oil marked by Euro did not increase much because of the rising exchange rate between Euro and US dollar. Similarly, when the oil price and the euro exchange rate fall together, the oil price of the euro price will not fall significantly. On the other hand, if the change of oil price is opposite to the change of exchange rate, the change of oil price of euro price will be magnified. Pricing in euro will eliminate the dependence of European oil prices on the euro dollar exchange rate
the U.S. economy is heavily dependent on the protection of various U.S. debts and deficits brought about by the dominance of the U.S. dollar as a reserve currency. If the US dollar is not dominant, the US dollar and the US economy may experience the crises experienced by many Latin American countries in the 1980s. As long as the status of the US dollar is not threatened, the US economy is not in danger of collapse. European currencies alone are not enough to threaten the dominance of the dollar. Some economists believe that the euro is enough to threaten the dominance of the US dollar and lead to the collapse of the US economy under certain circumstances
4. The impact of the launch of the euro on China
after the transition period and the stable period, the euro will have a significant impact on the world economy and China's reform and opening up process< The establishment of Euro can rece tens of billions of foreign exchange transaction costs in international trade. At the same time, the final circulation of the euro will also promote the relationship between these countries and the EU, and also promote the outward investment of EU countries, including developing countries. The start of euro makes the internal economic policy of EU tend to be stable, and the optimal allocation of stable resources also leads to the change of instrial structure. This will provide beneficial enlightenment and influence to developing countries. Due to the low demand elasticity of world primary proct export income and the protective trade policy of EU regional group, countries outside the euro area, especially developing countries, are in danger of being excluded in the process of European regionalization, and countries with low level of development are almost unprofitable in the European Monetary Union. On the whole, developing countries will benefit less from the implementation of the euro than developed countries, and will face various challenges in the future
there are both opportunities and challenges for China's economic opening up after the launch of euro. First of all, after the launch of the euro, the internal exchange rate risk in Europe is eliminated, the transaction costs are reced, and the flow of goods, services and capital in Europe is more free, which is concive to the allocation of resources and division of labor in Europe. China's export enterprises are likely to lose their previous competitive advantages. For example, labor-intensive procts will encounter greater competition from southern European countries
although China is facing fierce competition in the short term, in the long run, under the trend of economic globalization, the launch of euro is beneficial to China. China has huge foreign exchange reserves and ranks among the top ten in Global trade. Therefore, the EU expects to strengthen financial cooperation with China and support the euro with strength; Since the launch of euro, trade proceres have been simplified, trade settlement has been facilitated, and export has been facilitated
secondly, the euro has created certain conditions for European enterprises to invest in China. The launch of euro has promoted the integration of capital markets in the region, enabling European enterprises to expand overseas investment and seek markets. In the long run, the euro zone will rece the impact of the US dollar turmoil on international finance, which is concive to the stability and balanced development of the euro zone, rece the risk of EU enterprises operating abroad, and promote EU foreign investment. As the euro may be a relatively stable currency in the medium and long term, European enterprises have the conditions to consider long-term investment projects, that is, investment in transportation, raw material instry, infrastructure and high-tech instry. China's economy is in the process of economic restructuring. Such instries are in great demand and have the ability to pay. Both sides have the foundation for investment cooperation
moreover, the launch of Euro promotes the development of the economy
1. From the perspective of economic interests
from the perspective of economic interests, the implementation of a unified currency will bring the following benefits to EU countries
(1) enhance their own economic strength and competitiveness
in the future, the GDP and foreign trade volume of the euro area will be higher than those of the United States and Japan. After the launch of the euro, the joint promotion of the unified currency and the unified market will undoubtedly bring new economic growth, making the EU in a favorable position in the competition with the United States, Japan and other economic powers
(2) rece internal contradictions, prevent and resolve financial risks
in the trend of economic competition becoming increasingly global, regional and group, the unified currency is one of the most powerful weapons. The European Union is the most integrated regional group in the world, but it still lacks the ability to resist the impact of domestic market turbulence. The Mexican Peso Crisis in 1995 and the Japanese yen crisis in 1996 once led to the decline of EU economic growth, the decline of exports and the decrease of employment. Facts have proved that under the floating exchange rate mechanism of the European Union, the values of the multi-national currencies are different, and the differences in interest rates and the changes in exchange rates have caused the chaos of the internal financial order of the European Union. After the euro is officially used as a single currency, the above problems will naturally be greatly alleviated
Michael Firth, an economist at Morgan Stanley in London, pointed out that EMU's plan is rable and has shown the advantages of this system in the Asian financial crisis. In the past, Europe could not survive such storms
(3) simplify the circulation proceres and rece the cost
the use of Euro not only simplifies the proceres, saves time and speeds up the circulation of goods and funds, but also reces the exchange and commission losses of nearly 30 billion US dollars, making EU enterprises invisible to rece costs and enhance their competitiveness. With the rise of Euro status and the development of European capital market, the capital cost of member countries will also decline, which is concive to investment and economic growth
(4) increase social consumption and stimulate enterprise investment
in the EU, although a unified market has been established, the same resources, goods and services show different prices in different countries e to the existence of multiple currencies. If this phenomenon persists for a long time, it will distort the instrial structure and investment structure of various countries, which is not concive to the rational development of the big market. If a single currency is implemented and the European Central Bank (ECB) formulates and implements a unified monetary policy, the differences in prices, interest rates and investment interests among countries will graally narrow or tend to be consistent, resulting in the overall decline of prices and interest rates, the expansion of residents' social consumption, and the improvement of enterprise investment environment, which will ultimately be concive to the sound development of the EU's overall economy
2. The impact of single currency
it is generally believed that the adoption of single currency can improve economic interdependence and facilitate international trade between euro countries. In theory, this is good for the people of the euro area, and historically, the growth of trade is one of the main drivers of economic growth. In addition, it is in line with the long-term goal of establishing a unified market among the EU. Another major benefit is the elimination of bank transaction fees. In the past, whether for indivials or enterprises, it was a major cost to convert the local currency into foreign currency. On the contrary, banks will have to bear the corresponding loss of profits
the second effect of the single currency is that the differences in price levels among countries will be reced. Because the price difference will lead to arbitrage behavior, the commodity will flow from the low price area to the high price area, which makes the prices of different regions in the euro area tend to be consistent. This will also lead to increased competition among enterprises, help control inflation and benefit consumers
some economists believe that the use of a single currency in such a large and different region is harmful. They believe that since monetary policy and interest rate levels in the euro area are determined by the European Central Bank, countries will not be able to adjust their economies according to their own conditions But before the implementation of the euro, since the European monetary crisis in the 1990s, the changes of interest rates in various countries have been very close to synchronization.) Public investment and fiscal policy will become the only means for governments of various countries or regions to intervene in the economy
there are also views that although the size and population of the euro area are similar to those of the United States, where the Federal Reserve is responsible for setting interest rates and monetary policy. However, compared with the EU countries, the autonomy of each state in the United States is smaller and the economic similarity is greater. Moreover, the economies of EU countries are not "synchronized". Some countries are at the bottom of the economic cycle, while others are at the top. Different countries are also facing different inflationary pressures. Due to the differences in language and culture among European countries, the mobility of labor in the euro area is also much lower than that in the United States
there are also views that the reason why the United States can adopt a single currency is that the US dollar is the dominant currency in the world. Before the euro, 80% of the world's foreign exchange reserves were in the form of US dollars. This gives the U.S. economy a huge "subsidy" because reserve dollars is equivalent to investment in U.S. institutions or foreign institutions controlled by the United States. This "subsidy" helps to cushion the impact of the adoption of the single currency in specific regions of the United States
if the euro can replace the US dollar or become the major international currency together with the US dollar, some of the "subsidies" to the US will be transferred to the euro area, which can help solve the problems caused by different economic structures
some people think that the euro will bring huge volatility to the European financial market, because governments and enterprises can borrow the euro instead of their own currency, which makes the source of funds in the market increase greatly
3. Euro and oil
euro will have a significant impact on oil prices. The euro zone imports more oil for consumption than the US, which means that the euro will flow more than the US dollar into OPEC countries that do not price oil only in US dollars. OPEC also often talks about pricing oil in Euro, which requires oil importing countries to reserve Euro instead of US dollar for oil import. Although most of Venezuela's oil is exported to the United States, Venezuelan President Hugo ch á Vez) has declared support for the plan. Another supporter of the plan is the late former Iraqi President Saddam Hussein, who has the second largest oil reserves in the world. Since 2000, Iraq has begun to use Euro when exporting oil. In 2002, Iraq converted its US dollar reserves into euro. A few months later, the United States decided to go to war against Iraq and then invade its territory. If OPEC carries out this plan, the euro zone will receive the "subsidy" originally obtained by the United States. Another important influence of pricing oil in euro is that the change of oil price in euro area will be closely related to the world oil price. When the price of crude oil soared to $50 a barrel in September 2004, the price of oil marked by Euro did not increase much because of the rising exchange rate between Euro and US dollar. Similarly, when the oil price and the euro exchange rate fall together, the oil price of the euro price will not fall significantly. On the other hand, if the change of oil price is opposite to the change of exchange rate, the change of oil price of euro price will be magnified. Pricing in euro will eliminate the dependence of European oil prices on the euro dollar exchange rate
the U.S. economy is heavily dependent on the protection of various U.S. debts and deficits brought about by the dominance of the U.S. dollar as a reserve currency. If the US dollar is not dominant, the US dollar and the US economy may experience the crises experienced by many Latin American countries in the 1980s. As long as the status of the US dollar is not threatened, the US economy is not in danger of collapse. European currencies alone are not enough to threaten the dominance of the dollar. Some economists believe that the euro is enough to threaten the dominance of the US dollar and lead to the collapse of the US economy under certain circumstances
4. The impact of the launch of the euro on China
after the transition period and the stable period, the euro will have a significant impact on the world economy and China's reform and opening up process< The establishment of Euro can rece tens of billions of foreign exchange transaction costs in international trade. At the same time, the final circulation of the euro will also promote the relationship between these countries and the EU, and also promote the outward investment of EU countries, including developing countries. The start of euro makes the internal economic policy of EU tend to be stable, and the optimal allocation of stable resources also leads to the change of instrial structure. This will provide beneficial enlightenment and influence to developing countries. Due to the low demand elasticity of world primary proct export income and the protective trade policy of EU regional group, countries outside the euro area, especially developing countries, are in danger of being excluded in the process of European regionalization, and countries with low level of development are almost unprofitable in the European Monetary Union. On the whole, developing countries will benefit less from the implementation of the euro than developed countries, and will face various challenges in the future
there are both opportunities and challenges for China's economic opening up after the launch of euro. First of all, after the launch of the euro, the internal exchange rate risk in Europe is eliminated, the transaction costs are reced, and the flow of goods, services and capital in Europe is more free, which is concive to the allocation of resources and division of labor in Europe. China's export enterprises are likely to lose their previous competitive advantages. For example, labor-intensive procts will encounter greater competition from southern European countries
although China is facing fierce competition in the short term, in the long run, under the trend of economic globalization, the launch of euro is beneficial to China. China has huge foreign exchange reserves and ranks among the top ten in Global trade. Therefore, the EU expects to strengthen financial cooperation with China and support the euro with strength; Since the launch of euro, trade proceres have been simplified, trade settlement has been facilitated, and export has been facilitated
secondly, the euro has created certain conditions for European enterprises to invest in China. The launch of euro has promoted the integration of capital markets in the region, enabling European enterprises to expand overseas investment and seek markets. In the long run, the euro zone will rece the impact of the US dollar turmoil on international finance, which is concive to the stability and balanced development of the euro zone, rece the risk of EU enterprises operating abroad, and promote EU foreign investment. As the euro may be a relatively stable currency in the medium and long term, European enterprises have the conditions to consider long-term investment projects, that is, investment in transportation, raw material instry, infrastructure and high-tech instry. China's economy is in the process of economic restructuring. Such instries are in great demand and have the ability to pay. Both sides have the foundation for investment cooperation
moreover, the launch of Euro promotes the development of the economy
3. Translate the English on the coin:
euro, 50 cents.
euro, 50 cents.
4. Each country's Euro is about 70-80 yuan, and now there are 17 euro member countries
the countries using euro are Germany, France, Italy, the Netherlands, Belgium, Luxembourg, Ireland, Spain, Portugal, Austria, Finland, Greece (joined the euro zone on January 1, 2001), Slovenia (joined the euro zone on January 1, 2007), Cyprus (joined the euro zone on January 1, 2008) Malta (joined the euro on January 1, 2008), Slovakia (joined the euro on January 1, 2009) and Estonia (joined the euro on January 1, 2011) are called the euro area
at present, there are 17 members in the euro area, and another 9 countries and regions use the euro as the local single currency
the old set is about 45 yuan.
the countries using euro are Germany, France, Italy, the Netherlands, Belgium, Luxembourg, Ireland, Spain, Portugal, Austria, Finland, Greece (joined the euro zone on January 1, 2001), Slovenia (joined the euro zone on January 1, 2007), Cyprus (joined the euro zone on January 1, 2008) Malta (joined the euro on January 1, 2008), Slovakia (joined the euro on January 1, 2009) and Estonia (joined the euro on January 1, 2011) are called the euro area
at present, there are 17 members in the euro area, and another 9 countries and regions use the euro as the local single currency
the old set is about 45 yuan.
5. The euro is the currency of 19 countries in the European Union. The 19 member states of the euro are Germany, France, Italy, the Netherlands, Belgium, Luxembourg, Ireland, Spain, Portugal, Austria, Finland, Lithuania, Latvian, Estonian, Slovak, Slovenian, Greek, Maltese and Cyprus< In July 2002, the euro became the only legal currency in the euro area. The euro is managed by the European system of central banks (ESCB), which is composed of the European Central Bank (ECB) and the central banks of the euro area countries, In addition, the euro is also the currency of six non EU countries (regions), namely, Monaco, San Marino, Vatican, Andorra, Montenegro and Kosovo. Among them, the first four pocket countries use the euro according to the agreement with the EU, while the latter two countries (regions) use the euro unilaterally.
6. The euro, with the euro countries and regions collectively referred to as the euro area. But not all EU countries use the euro. For example, the currency of Britain is pound sterling.
7. There is no euro, only the euro. I won't help you find Du Niang. I just broke up with Du Niang Liu Dong.
8. 27 countries
the European Union (EU) is made up of 27 member states and nearly 500 million people (January 2007) in the European communities
the European Union (EU) is made up of 27 member states and nearly 500 million people (January 2007) in the European communities
9. The euro is the currency of 19 countries in the European Union. The 19 member states of the euro are Germany, France, Italy, the Netherlands, Belgium, Luxembourg, Ireland, Spain, Portugal, Austria, Finland, Lithuania, Latvian, Estonian, Slovak, Slovenian, Greek, Maltese and Cyprus
on January 1, 1999, the single monetary act was implemented in the European Union countries implementing the euro. In July 2002, the euro became the only legal currency in the euro area. The euro is managed by the European system of central banks (ESCB), which is composed of the European Central Bank (ECB) and the central banks of the euro area countries, In addition, the euro is also the currency of six non EU countries (regions), namely, Monaco, San Marino, Vatican, Andorra, Montenegro and Kosovo. Among them, the first four pocket countries use the euro according to the agreement with the EU, while the latter two countries (regions) use the euro unilaterally.
on January 1, 1999, the single monetary act was implemented in the European Union countries implementing the euro. In July 2002, the euro became the only legal currency in the euro area. The euro is managed by the European system of central banks (ESCB), which is composed of the European Central Bank (ECB) and the central banks of the euro area countries, In addition, the euro is also the currency of six non EU countries (regions), namely, Monaco, San Marino, Vatican, Andorra, Montenegro and Kosovo. Among them, the first four pocket countries use the euro according to the agreement with the EU, while the latter two countries (regions) use the euro unilaterally.
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