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Published in:
2015 | OriginalPaper | Chapter
Euromania and Eurocrash
Authors : Robert Z. Aliber, Charles P. Kindleberger
Published in: Manias, Panics, and Crashes
Publisher: Palgrave Macmillan UK
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One of the most ambitious innovations in international finance in the seventy years since the end of the Second World War was the establishment of a common currency for Germany, France, Italy, Spain, and most other countries that were members of the European Union (EU). Eleven of the fourteen EU member countries adopted the euro on 1 January 1999; Britain and Denmark chose to retain their currencies. More than ten countries subsequently have joined the EU and each has either adopted the euro or will do so as one of the conditions for joining the EU.