Euro

In 1998 eleven EU member-states had met the convergence criteria, and the Eurozone came into existence with the official launch of the Euro on 1 January 1999. Portugal was among those countries. Greece qualified in 2000 and was admitted on 1 January 2001. Physical coins and banknotes were introduced on 1 January 2002. Slovenia qualified in 2006 and was admitted on 1 January 2007.

The Euro is managed and administered by the Frankfurt-based European Central Bank (ECB) and the European System of Central Banks (ESCB) (composed of the central banks of its member states). As an independent central bank, the ECB has sole authority to set monetary policy. The ESCB participates in the printing, minting and distribution of notes and coins in all member states, and the operation of the Eurozone payment systems.

The Euro is widely perceived by worldwide countries to be one of two major global reserve currencies.

adapted from Wikipedia