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The history of the Euro
February 28, 2002
Legacy currencies stop being legal tender
January 1, 2002
Euro notes and coins launched
FT correspondents report from the eurozone
January 1, 2001
Greece joins the eurozone
Few regrets at demise of the drachma.
September 29, 2000
Denmark says "no" to single currency
Referendum deals blow to single currency.
September 25, 2000
G7 nations stand firm on euro
Leading central banks intervene in support of the ailing euro.
December 3, 1999
Rift as euro falls below dollar parity
Single currency falls below $1 for the first time.
January 5, 1999
Euro launched
Euro climbs to $1.19 against the dollar on its first trading day with dealers quick to embrace new currency.
June 1, 1998
European Central Bank established
The ECB's exchange rate policy remains uncertain. Analysts forsee volatility for the single currency.
December 1995
EU backs Euro as name for single currency
EU leaders brace themselves for a tough three-year campaign to win support for the planned single currency.
January 1, 1995
European Union expands
Austria, Finland and Sweden join the EU
January 12, 1994
European Monetary Institute created
European Monetary Institute, precursor for the future European Central Bank, meets for the first time.
September 21, 1992
France votes 'yes', but only just
French poll approves the Maastricht treaty, but by the narrowest of margins, casting further doubt over political and monetary union.
September 17, 1992
Sterling is suspended within ERM
UK withdraws from ERM after sterling falls below its floor against the D-Mark.
June 3, 1992
Danes say no to Maastricht Treaty
Denmark's refusal to ratify the treaty is greeted with dismay in Brussels.
February 7, 1992
The Maastricht Treaty signed
The Treaty elevated the project of European integration to a new and far more ambitious level by setting a firm date - January 1999 at the latest - for the replacement of national currencies by a single, shared currency, the euro.
Ecu awaits full blessing of Twelve
Germans nervous at loss of D-Mark
Maastricht Treaty: Summary of economic and monetary union policies
Maastricht Treaty: Objectives, principles and citizenship
June 14, 1988
EC leaders move nearer to monetary study plan
EC summit in Hanover tentatively agrees study into closer monetary co-operation.
February 1986
Single European Act signed
The Single European Act modifying the Treaty of Rome is signed, formalising political co-operation between the member states and including six new areas of competence, including monetary co-operation.
March 1979
European Monetary System (EMS) created
The European Monetary System (EMS) takes effect, based on a currency unit called the Ecu. The system is designed to stabilise the exchange rates of the national currencies and counter inflation.
1971-1973
Breakdown of the Bretton Woods system of fixed exchange rates
Beginning with President Nixon closing the gold window in 1971 and ultimately resulting in widespread currency floats and devaluations, the breakdown of the Bretton Woods system dealt a serious blow to hopes for a shift to a European monetary union.
October 1970
Publication of the Werner Report
Named after Pierre Werner, the Luxembourg prime minister, the report did not recommend a single European currency or a European Central Bank, but called for the centralisation of member states' macroeconomic policies, entailing "the total and irreversible fixing of parity rates and the complete liberation of movements of capital."
December 1969
Summit meeting at The Hague
Pierre Werner appointed to report on how to reduce exchange volatility
March 1957
Treaties of Rome signed
The Treaties, signed by Belgium, France, West Germany, Italy, Luxembourg and The Netherlands, cover the establishment of the European Economic Community (EEC) and the European Atomic Energy Community (Euratom).
April 18, 1951
Paris Treaty signed
France, West Germany, Italy, Luxembourg, Belgium and The Netherlands agree on establishing the European Coal and Steel Community (ECSC)
