Ancient History
In this year the Euro was officially introduced.
1999
What is the exchange rate of euro to USD today?
One euro = 1.12 USD
Name a country in Eastern Europe who has yet to adopt the Euro (but have agreed to do so)
The seven are Bulgaria, Czech Republic, Hungary, Latvia, Lithuania, Poland and Romania
Name one of the weaker eurozone economies who required fiscal intervention in recent years (besides Greece).
Spain, Portugal, Italy, Cyprus
When did Spain adopt the euro?
1999
What country joined the Eurozone in 2001?
Greece
Does Northern Ireland use the euro?
No. As a part of Great Britain, they use pound, but accept Euro.
This country joined the EU in 2007 and is committed to switch its currency, the Lev, to the Euro by 2022
Bulgaria
By joining the Eurozone, what economic levers do countries lose?
Monetary policy - control of money supply by manipulating interest rates
This is the central bank that manages the Euro.
The European Central Bank.
What year was the European Monetary system (EMS) established?
1979
How many countries used the euro in 2018?
23 Countries
This current Czech currency was slated to be replaced by the Euro by 2010, but the date has since been postponed indefinitely
The Czech Koruna
What is one of the two central goals of the Euro currency?
Increasing economic growth and strengthening public support for European political institutions
Name a non-EU entity who uses the Euro.
Andorra, Vatican City, and Monaco and San Marino.
Who chose the name Euro and how was the symbol inspired?
European council meeting in 1995 & the euro symbol was inspired by the Greek letter epsilon (Є)
Does Denmark use the Euro?
No, they use the Danish krone
What is the mandatory waiting period a country must wait (after approval from the ERM and Banking Union) before it can join switch to the Euro?
2 years
What is the name of the treaty which dictates that new entrants to the eurozone have a budget deficit below 3%?
The Maastrist treaty rule
How many EU countries are not using the euro?
Nine countries (Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, and the United Kingdom)
This treaty was signed in 1957 to establish the European Economic Community (EEC)
Treaty of Rome
The European Stability Mechanism and its predecessors worked with the IMF and provided how many billion euros in loans to the five countries hit hardest by the crisis?
250 billion euros
Which of the following Baltic States was the last to adopt the Euro? Estonia, Lithuania, Latvia
Lithuania on 1 January, 2015
Greece was at the heart of the eurozone crisis. Their budget submitted to join the Euro said the deficit was 1.5%. What was the real budget shortfall?
8.3%
What year was the euro implemented?
2001