Euro Set - 2002
The Treaty of Rome in 1958 proposed unifying the peoples of Europe with a common European market. Following that dream, the Single European Act (1986) and the Treaty on European Union (1992) founded the Economic and Monetary Union (EMU) and laid down the foundations of a single European currency. The term "Euro" was coined in 1995 in Madrid. The European Central Bank (ECB) was established in 1998 in Frankfurt-am-Main, Germany. It is the ECB's responsibility to manage the development and introduction of the Euro.
This year sees all twelve member states introduce new Euro coins and banknotes in place of their existing currency, making it the largest monetary changeover the world has ever seen.