Friday, February 29, 2008


Euro on Wednesday has been on the highest record level in currency exchange against the Greenback!! The record of 1 Euro equivalent to US$1.5121 is the highest ever. Not only that, Euro is currently the world's largest combined cash value in circulation, amounting to about US$ 800 billion.

Started in use in 1999, the future of Euro looks uncertain and may lost to US Dollar even before the turning of the millenium. Things changed recently with the possible US been dumped into the economic recession.

The Euro is adopted for use mainly by the Eurozone members. Not to confused, Eurozone and European Union are not the same. Eurozone refers to member states that have adopt Euro as their currency.

The Euro is the sole currency in Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovenia and Spain. Euro is also the legal currency in French overseas possessions, Azores and Madeira of Portugal and Canary Islands of Spain. European microstates of Monaco, Vatican City and San Marino by virtue of some bilateral agreement also adopted Euro but limited in terms of coins issue. By unilateral agreements, Kosovo, Montenegro, Andorra and the British base in Cyprus also use Euro.

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