In 1999 on the 1 of January 11 European countries took a big step. On that day at midnight these 11 countries were united by one currency – the euro.
This day is a historical moment, mainly because it promised to bring economic and political results, that would affect the euro zone countries as well as the Monetary system. This was supposed to be the tool for the financial and streamline markets to grow and get stronger.
There has been a lot of improvement in the efficiency of the markets, the capital and the services.

The positive side of the euro

It was not a perfect solution as we all agree on, but still it helped to reduce transaction costs, lower price pressures and also improve the price transparency.
But as we have seen, the euro zone is in trouble. Debt crisis in many euro zone countries and the bailouts that have been given is a popular news subject.
After the bailout that was given to Greece, unfortunately this debt malady is spreading.
But is not only Europe that is struggling. The U.S is also on the edge.
The solution for U.S was to cut of the spending of 2.4 trillion in public expenditure reductions over the next decade. This agreement has given the needed confidence to the consumers and businesses.

Latest Euro Foreign Exchange Rates

One UK pound sterling exchange 1.15090 per euro at 08:35 GMT today, while one pound will buy 1.63670 US dollars.

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