In this Real Economy Crash Course, we reflect on 25 years of the euro, from its introduction in 1999 to its significance today and what to expect in the future.
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00:00 Now, a quarter of a century old, the Euro became a reality on January 1, 1999.
00:07 That historic day saw 11 EU countries fix their exchange rates and entrust monetary
00:13 policy to the ECB.
00:15 Nine other countries have joined the Eurozone since then.
00:18 Today, the Euro is one of the most important currencies in the world.
00:23 Around 350 million people use it every day.
00:27 But except for the US dollar, no other currency is traded more on global markets.
00:34 So what does the future hold for this unique symbol of European integration?
00:38 First, more countries could still join.
00:42 Several EU member states are legally required to adopt the single currency once they've
00:46 met the necessary economic criteria.
00:50 New high-tech banknotes with updated designs are in the pipeline.
00:55 There are also big plans to launch a digital Euro very soon.
00:59 (upbeat music)