Economic and Monetary Union
10th anniversary of the euro
1 January 2009 - the euro is ten years old. Like the process of European integration as a whole, Economic and Monetary Union was a simultaneously visionary yet pragmatic project. A major step towards fulfilling the ideal of an 'ever closer union among the peoples of Europe', it was achieved through close co-ordination and convergence of economic policies within the EU, and careful technical preparations. How did it all happen? What obstacles had to be overcome? How was the € symbol chosen and how were the designs of the coins and banknotes selected? Who organised the biggest cash changeover in... history? These are some of the questions addressed in this unique 26-minute documentary. It also shows how, after ten years, Economic and Monetary Union (EMU) has brought significant benefits for both citizens and businesses in the euro area. 16 million jobs have been created, inflation has been at historically low levels, interest rates have fallen, exchange rate costs have disappeared, new markets have been created and the euro has proven its ability to act as a shield against external shocks. Against this remarkable background of achievement, the film ends by looking towards the future and considering the euro's prospects in the years to come.
- Corporate author(s): Directorate-General for Economic and Financial Affairs (European Commission) Themes: Construction of Europe , Economic policy — Economic and monetary union
- Subject: Economic and Monetary Union , economic forecasting , euro , European integration , historical account