As the eurozone marks the 10th anniversary of the euro on Sunday amid growing fears over the bloc’s sovereign debt crisis, FRANCE 24 takes a look back at when the common currency was introduced in 2002, and still seen as a cause to celebrate.
Ten years after the eurozone first adopted its common currency, the economic bloc finds itself in the midst of a grave sovereign debt crisis. Yet, at the stroke of midnight on January 1, 2002, 12 member states of the European Union not only rang in the New Year, but also celebrated their new currency, the euro.
Despite a general atmosphere of excitement and celebration, not everyone was thrilled by the prospect of handing over their sovereign currency in exchange for euros. For some it meant a loss of buying power, for others a loss of sovereignity, and for others still, a change they were unwilling to embrace.
Date created : 2011-12-30