Launched on world financial markets on 1 January 1999, the euro was used initially in electronic format in banking and payments. Three years later, euro notes and coins entered into circulation.

The single currency has made it easier for people to compare prices across borders, to shop and travel and to make savings in a stable currency. It also opened up more opportunities for businesses, as the costs and uncertainty of dealing with fluctuating exchange rates disappeared.

Currently, the euro is the official currency of 19 EU countries. It also plays an important international role, used for almost 40% of global cross-border payments, second only to the US dollar.

A Eurobarometer survey from November 2018 showed a record level of support for the euro in the euro area. Three in four respondents said that they viewed the euro as a good thing for the EU.