Eurozone - Revision history

ArchiveBot: Repoint 1 dead mises.org link to the archived original (automated; see Austrian Economics Wiki:Link repointing)

2026-08-16T04:22:03Z

Repoint 1 dead mises.org link to the archived original (automated; see Austrian Economics Wiki:Link repointing)

← Older revision		Revision as of 04:22, 16 August 2026
Line 14:		Line 14:
	After the fall of the [[Bretton Woods]] system the governments of Western Europe began to amass public debt to grow their welfare states. But it was soon recognized their wildly fluctuating currencies hindered international trade and could so undermine their income.		After the fall of the [[Bretton Woods]] system the governments of Western Europe began to amass public debt to grow their welfare states. But it was soon recognized their wildly fluctuating currencies hindered international trade and could so undermine their income.

	The first attempt was the [[European Monetary System]] (EMS, founded 1978). It was a [[cartel]] of paper money producers, who agreed to stabilize the exchange rates between their currencies at certain levels, or "parities". In practice, those inflating the least would determine the inflation rates of all others. If someone were to inflate more, they would have to persuade others to do the same, or risk a change of parity. The [[Deutsche Bundesbank\|German Bundesbank]] was the most conservative of the central banks. The problem was settled only in the early 1990s, when the German government sought to take over former communist East Germany and needed the consent of its major western partners. The price for that consent was the abdication of the [[Deutsche mark]]. A few years after the rejoining of East and West Germany were the paper money producers united in the '''[[European Central Bank]]''' (ECB, started operation in 1999 and issued Euro notes and coins by 2002).<ref name="Hulsmann_Paper_Money">Jörg Guido Hülsmann. [~~http~~://~~www.mises~~.org/books/~~moneyproduction.pdf~~ "The Ethics of Money Production"] (pdf), online version, Chapter 17. International Paper-Money Systems, 1971-?, p.228-230, referenced 2010-09-29.</ref>		The first attempt was the [[European Monetary System]] (EMS, founded 1978). It was a [[cartel]] of paper money producers, who agreed to stabilize the exchange rates between their currencies at certain levels, or "parities". In practice, those inflating the least would determine the inflation rates of all others. If someone were to inflate more, they would have to persuade others to do the same, or risk a change of parity. The [[Deutsche Bundesbank\|German Bundesbank]] was the most conservative of the central banks. The problem was settled only in the early 1990s, when the German government sought to take over former communist East Germany and needed the consent of its major western partners. The price for that consent was the abdication of the [[Deutsche mark]]. A few years after the rejoining of East and West Germany were the paper money producers united in the '''[[European Central Bank]]''' (ECB, started operation in 1999 and issued Euro notes and coins by 2002).<ref name="Hulsmann_Paper_Money">Jörg Guido Hülsmann. [https://freecapitalists.org/books/the-ethics-of-money-production/ "The Ethics of Money Production"] (pdf), online version, Chapter 17. International Paper-Money Systems, 1971-?, p.228-230, referenced 2010-09-29.</ref>

	The [[euro]] was launched on 1 January 1999, to become the new official currency of 11 Member States, replacing the old national currencies – such as the Deutschmark and the French franc – in two stages. First introduced as a virtual currency for cash-less payments and accounting purposes, while the old currencies continued to be used for cash payments and considered as 'sub-units' of the euro, it then appeared in physical form, as banknotes and coins, on 1 January 2002. The euro is not the currency of all EU Member States. Two countries ([[Denmark]] and the [[United Kingdom]]) agreed an 'opt-out' clause in the Treaty exempting them from participation, while the remainder (many of the newest EU members plus [[Sweden]]) have yet to meet the conditions for adopting the single currency. Once they do so, they will replace their national currency with the euro.<ref name="EU_euro" />		The [[euro]] was launched on 1 January 1999, to become the new official currency of 11 Member States, replacing the old national currencies – such as the Deutschmark and the French franc – in two stages. First introduced as a virtual currency for cash-less payments and accounting purposes, while the old currencies continued to be used for cash payments and considered as 'sub-units' of the euro, it then appeared in physical form, as banknotes and coins, on 1 January 2002. The euro is not the currency of all EU Member States. Two countries ([[Denmark]] and the [[United Kingdom]]) agreed an 'opt-out' clause in the Treaty exempting them from participation, while the remainder (many of the newest EU members plus [[Sweden]]) have yet to meet the conditions for adopting the single currency. Once they do so, they will replace their national currency with the euro.<ref name="EU_euro" />

Pesterbot: /* Links */External Links to Links, replaced: ==External links== → ==Links==

2011-06-21T18:42:31Z

Links: External Links to Links, replaced: ==External links== → ==Links==

← Older revision		Revision as of 18:42, 21 June 2011
Line 21:		Line 21:
	{{Reflist}}		{{Reflist}}

	==~~External links~~==		==Links==
	* [[Wikipedia:Eurozone\|Eurozone]] on Wikipedia		* [[Wikipedia:Eurozone\|Eurozone]] on Wikipedia
	* [http://www.timbro.se/bokhandel/pdf/9175665646.pdf EU versus USA] (pdf) by Fredrik Bergström & Robert Gidehag, June 2004		* [http://www.timbro.se/bokhandel/pdf/9175665646.pdf EU versus USA] (pdf) by Fredrik Bergström & Robert Gidehag, June 2004

	[[Category:European Union]]		[[Category:European Union]]

Pestergaines: Update euro countries.

2011-02-22T15:04:04Z

Update euro countries.

← Older revision		Revision as of 15:04, 22 February 2011
Line 9:		Line 9:
	* In 2008 by [[Cyprus]] and [[Malta]]		* In 2008 by [[Cyprus]] and [[Malta]]
	* In 2009 by [[Slovakia]]		* In 2009 by [[Slovakia]]
			* In 2011 by [[Estonia]]

	==Background==		==Background==

Pestergaines: +cat

2011-01-16T00:23:43Z

+cat

← Older revision		Revision as of 00:23, 16 January 2011
Line 23:		Line 23:
	* [[Wikipedia:Eurozone\|Eurozone]] on Wikipedia		* [[Wikipedia:Eurozone\|Eurozone]] on Wikipedia
	* [http://www.timbro.se/bokhandel/pdf/9175665646.pdf EU versus USA] (pdf) by Fredrik Bergström & Robert Gidehag, June 2004		* [http://www.timbro.se/bokhandel/pdf/9175665646.pdf EU versus USA] (pdf) by Fredrik Bergström & Robert Gidehag, June 2004

			[[Category:European Union]]

Mark: /* Background */

2011-01-15T18:46:20Z

Background

← Older revision		Revision as of 18:46, 15 January 2011
Line 11:		Line 11:

	==Background==		==Background==
	After the fall of the [[Bretton Woods]] system ~~began~~ the governments of Western Europe to amass public debt to grow their welfare states. But it was soon recognized their wildly fluctuating currencies hindered international trade and could so undermine their income.		After the fall of the [[Bretton Woods]] system the governments of Western Europe began to amass public debt to grow their welfare states. But it was soon recognized their wildly fluctuating currencies hindered international trade and could so undermine their income.

	The first attempt was the [[European Monetary System]] (EMS, founded 1978). It was a [[cartel]] of paper money producers, who agreed to stabilize the exchange rates between their currencies at certain levels, or "parities". In practice, those inflating the least would determine the inflation rates of all others. If someone were to inflate more, they would have to persuade others to do the same, or risk a change of parity. The [[Deutsche Bundesbank\|German Bundesbank]] was the most conservative of the central banks. The problem was settled only in the early 1990s, when the German government sought to take over former communist East Germany and needed the consent of its major western partners. The price for that consent was the abdication of the [[Deutsche mark]]. A few years after the rejoining of East and West Germany were the paper money producers united in the '''[[European Central Bank]]''' (ECB, started operation in 1999 and issued Euro notes and coins by 2002).<ref name="Hulsmann_Paper_Money">Jörg Guido Hülsmann. [http://www.mises.org/books/moneyproduction.pdf "The Ethics of Money Production"] (pdf), online version, Chapter 17. International Paper-Money Systems, 1971-?, p.228-230, referenced 2010-09-29.</ref>		The first attempt was the [[European Monetary System]] (EMS, founded 1978). It was a [[cartel]] of paper money producers, who agreed to stabilize the exchange rates between their currencies at certain levels, or "parities". In practice, those inflating the least would determine the inflation rates of all others. If someone were to inflate more, they would have to persuade others to do the same, or risk a change of parity. The [[Deutsche Bundesbank\|German Bundesbank]] was the most conservative of the central banks. The problem was settled only in the early 1990s, when the German government sought to take over former communist East Germany and needed the consent of its major western partners. The price for that consent was the abdication of the [[Deutsche mark]]. A few years after the rejoining of East and West Germany were the paper money producers united in the '''[[European Central Bank]]''' (ECB, started operation in 1999 and issued Euro notes and coins by 2002).<ref name="Hulsmann_Paper_Money">Jörg Guido Hülsmann. [http://www.mises.org/books/moneyproduction.pdf "The Ethics of Money Production"] (pdf), online version, Chapter 17. International Paper-Money Systems, 1971-?, p.228-230, referenced 2010-09-29.</ref>

Pestergaines: Euro link

2010-12-02T22:26:12Z

Euro link

← Older revision		Revision as of 22:26, 2 December 2010
Line 1:		Line 1:
	{{Stub}}		{{Stub}}

	The [[~~Wikipedia:Euro\|~~euro]] is the single currency shared by (currently) 16 of the [[European Union]]'s Member States, which together make up the '''eurozone''' or '''euro area'''.		The [[euro]] is the single currency shared by (currently) 16 of the [[European Union]]'s Member States, which together make up the '''eurozone''' or '''euro area'''.

	The euro was adopted by the following countries:<ref name="EU_euro">European Commission. [http://ec.europa.eu/economy_finance/euro/index_en.htm "The euro"], Economic and Financial Affairs, referenced 2010-09-29.</ref>		The euro was adopted by the following countries:<ref name="EU_euro">European Commission. [http://ec.europa.eu/economy_finance/euro/index_en.htm "The euro"], Economic and Financial Affairs, referenced 2010-09-29.</ref>

Pestergaines: Removing Wikipedia links.

2010-12-02T21:37:02Z

Removing Wikipedia links.

← Older revision		Revision as of 21:37, 2 December 2010
Line 1:		Line 1:
	{{Stub}}		{{Stub}}

	The [[Wikipedia:Euro\|euro]] is the single currency shared by (currently) 16 of the European Union's Member States, which together make up the '''eurozone''' or '''euro area'''.		The [[Wikipedia:Euro\|euro]] is the single currency shared by (currently) 16 of the [[European Union]]'s Member States, which together make up the '''eurozone''' or '''euro area'''.

	The euro was adopted by the following countries:<ref name="EU_euro">European Commission. [http://ec.europa.eu/economy_finance/euro/index_en.htm "The euro"], Economic and Financial Affairs, referenced 2010-09-29.</ref>		The euro was adopted by the following countries:<ref name="EU_euro">European Commission. [http://ec.europa.eu/economy_finance/euro/index_en.htm "The euro"], Economic and Financial Affairs, referenced 2010-09-29.</ref>
Line 11:		Line 11:

	==Background==		==Background==
	After the fall of the Bretton Woods system began the governments of ~~Wester~~ Europe to amass public debt to grow their welfare states. But it was soon recognized their wildly fluctuating currencies hindered international trade and could so undermine their income.		After the fall of the [[Bretton Woods]] system began the governments of Western Europe to amass public debt to grow their welfare states. But it was soon recognized their wildly fluctuating currencies hindered international trade and could so undermine their income.

	The first attempt was the ~~European Monetary System (~~[[~~Wikipedia:~~European Monetary System~~\|EMS~~]], founded 1978). It was a [[cartel]] of paper money producers, who agreed to stabilize the exchange rates between their currencies at certain levels, or "parities". In practice, those inflating the least would determine the inflation rates of all others. If someone were to inflate more, they would have to persuade others to do the same, or risk a change of parity. The [[~~Wikipedia:~~Deutsche Bundesbank\|German Bundesbank]] was the most conservative of the central banks. The problem was settled only in the early 1990s, when the German government sought to take over former communist East Germany and needed the consent of its major western partners. The price for that consent was the abdication of the [[~~Wikipedia:Deutsche Mark\|~~Deutsche mark]]. A few years after the rejoining of East and West Germany were the paper money producers united in the '''[[European Central Bank]]''' (ECB, started operation in 1999 and issued Euro notes and coins by 2002).<ref name="Hulsmann_Paper_Money">Jörg Guido Hülsmann. [http://www.mises.org/books/moneyproduction.pdf "The Ethics of Money Production"] (pdf), online version, Chapter 17. International Paper-Money Systems, 1971-?, p.228-230, referenced 2010-09-29.</ref>		The first attempt was the [[European Monetary System]] (EMS, founded 1978). It was a [[cartel]] of paper money producers, who agreed to stabilize the exchange rates between their currencies at certain levels, or "parities". In practice, those inflating the least would determine the inflation rates of all others. If someone were to inflate more, they would have to persuade others to do the same, or risk a change of parity. The [[Deutsche Bundesbank\|German Bundesbank]] was the most conservative of the central banks. The problem was settled only in the early 1990s, when the German government sought to take over former communist East Germany and needed the consent of its major western partners. The price for that consent was the abdication of the [[Deutsche mark]]. A few years after the rejoining of East and West Germany were the paper money producers united in the '''[[European Central Bank]]''' (ECB, started operation in 1999 and issued Euro notes and coins by 2002).<ref name="Hulsmann_Paper_Money">Jörg Guido Hülsmann. [http://www.mises.org/books/moneyproduction.pdf "The Ethics of Money Production"] (pdf), online version, Chapter 17. International Paper-Money Systems, 1971-?, p.228-230, referenced 2010-09-29.</ref>

	The [[~~Wikipedia:Euro\|~~euro]] was launched on 1 January 1999, to become the new official currency of 11 Member States, replacing the old national currencies – such as the Deutschmark and the French franc – in two stages. First introduced as a virtual currency for cash-less payments and accounting purposes, while the old currencies continued to be used for cash payments and considered as 'sub-units' of the euro, it then appeared in physical form, as banknotes and coins, on 1 January 2002. The euro is not the currency of all EU Member States. Two countries ([[Denmark]] and the [[United Kingdom]]) agreed an 'opt-out' clause in the Treaty exempting them from participation, while the remainder (many of the newest EU members plus [[Sweden]]) have yet to meet the conditions for adopting the single currency. Once they do so, they will replace their national currency with the euro.<ref name="EU_euro" />		The [[euro]] was launched on 1 January 1999, to become the new official currency of 11 Member States, replacing the old national currencies – such as the Deutschmark and the French franc – in two stages. First introduced as a virtual currency for cash-less payments and accounting purposes, while the old currencies continued to be used for cash payments and considered as 'sub-units' of the euro, it then appeared in physical form, as banknotes and coins, on 1 January 2002. The euro is not the currency of all EU Member States. Two countries ([[Denmark]] and the [[United Kingdom]]) agreed an 'opt-out' clause in the Treaty exempting them from participation, while the remainder (many of the newest EU members plus [[Sweden]]) have yet to meet the conditions for adopting the single currency. Once they do so, they will replace their national currency with the euro.<ref name="EU_euro" />

	==References==		==References==

Pestergaines: 3 revisions: Importing pages from Autrian Economics Wiki.

2010-11-06T08:28:43Z

3 revisions: Importing pages from Autrian Economics Wiki.

← Older revision	Revision as of 08:28, 6 November 2010
(No difference)

Pestergaines: /* External links */ Resource added.

2010-10-12T22:43:20Z

External links: Resource added.

← Older revision		Revision as of 22:43, 12 October 2010
Line 22:		Line 22:
	==External links==		==External links==
	* [[Wikipedia:Eurozone\|Eurozone]] on Wikipedia		* [[Wikipedia:Eurozone\|Eurozone]] on Wikipedia
			* [http://www.timbro.se/bokhandel/pdf/9175665646.pdf EU versus USA] (pdf) by Fredrik Bergström & Robert Gidehag, June 2004

Pestergaines: /* Background */ Formatting.

2010-09-29T10:30:14Z

Background: Formatting.

← Older revision		Revision as of 10:30, 29 September 2010
Line 13:		Line 13:
	After the fall of the Bretton Woods system began the governments of Wester Europe to amass public debt to grow their welfare states. But it was soon recognized their wildly fluctuating currencies hindered international trade and could so undermine their income.		After the fall of the Bretton Woods system began the governments of Wester Europe to amass public debt to grow their welfare states. But it was soon recognized their wildly fluctuating currencies hindered international trade and could so undermine their income.

	The first attempt was the European Monetary System ([[Wikipedia:European Monetary System\|EMS]], founded 1978). It was a [[cartel]] of paper money producers, who agreed to stabilize the exchange rates between their currencies at certain levels, or "parities". In practice, those inflating the least would determine the inflation rates of all others. If someone were to inflate more, they would have to persuade others to do the same, or risk a change of parity. The [[Wikipedia:Deutsche Bundesbank\|German Bundesbank]] was the most conservative of the central banks. The problem was settled only in the early 1990s, when the German government sought to take over former communist East Germany and needed the consent of its major western partners. The price for that consent was the abdication of the [[Wikipedia:Deutsche Mark\|Deutsche mark]]. A few years after the rejoining of East and West Germany were the paper money producers united in the [[European Central Bank]] (ECB, started operation in 1999 and issued Euro notes and coins by 2002).<ref name="Hulsmann_Paper_Money">Jörg Guido Hülsmann. [http://www.mises.org/books/moneyproduction.pdf "The Ethics of Money Production"] (pdf), online version, Chapter 17. International Paper-Money Systems, 1971-?, p.228-230, referenced 2010-09-29.</ref>		The first attempt was the European Monetary System ([[Wikipedia:European Monetary System\|EMS]], founded 1978). It was a [[cartel]] of paper money producers, who agreed to stabilize the exchange rates between their currencies at certain levels, or "parities". In practice, those inflating the least would determine the inflation rates of all others. If someone were to inflate more, they would have to persuade others to do the same, or risk a change of parity. The [[Wikipedia:Deutsche Bundesbank\|German Bundesbank]] was the most conservative of the central banks. The problem was settled only in the early 1990s, when the German government sought to take over former communist East Germany and needed the consent of its major western partners. The price for that consent was the abdication of the [[Wikipedia:Deutsche Mark\|Deutsche mark]]. A few years after the rejoining of East and West Germany were the paper money producers united in the '''[[European Central Bank]]''' (ECB, started operation in 1999 and issued Euro notes and coins by 2002).<ref name="Hulsmann_Paper_Money">Jörg Guido Hülsmann. [http://www.mises.org/books/moneyproduction.pdf "The Ethics of Money Production"] (pdf), online version, Chapter 17. International Paper-Money Systems, 1971-?, p.228-230, referenced 2010-09-29.</ref>

	The [[Wikipedia:Euro\|euro]] was launched on 1 January 1999, to become the new official currency of 11 Member States, replacing the old national currencies – such as the Deutschmark and the French franc – in two stages. First introduced as a virtual currency for cash-less payments and accounting purposes, while the old currencies continued to be used for cash payments and considered as 'sub-units' of the euro, it then appeared in physical form, as banknotes and coins, on 1 January 2002. The euro is not the currency of all EU Member States. Two countries ([[Denmark]] and the [[United Kingdom]]) agreed an 'opt-out' clause in the Treaty exempting them from participation, while the remainder (many of the newest EU members plus [[Sweden]]) have yet to meet the conditions for adopting the single currency. Once they do so, they will replace their national currency with the euro.<ref name="EU_euro" />		The [[Wikipedia:Euro\|euro]] was launched on 1 January 1999, to become the new official currency of 11 Member States, replacing the old national currencies – such as the Deutschmark and the French franc – in two stages. First introduced as a virtual currency for cash-less payments and accounting purposes, while the old currencies continued to be used for cash payments and considered as 'sub-units' of the euro, it then appeared in physical form, as banknotes and coins, on 1 January 2002. The euro is not the currency of all EU Member States. Two countries ([[Denmark]] and the [[United Kingdom]]) agreed an 'opt-out' clause in the Treaty exempting them from participation, while the remainder (many of the newest EU members plus [[Sweden]]) have yet to meet the conditions for adopting the single currency. Once they do so, they will replace their national currency with the euro.<ref name="EU_euro" />