The Euro

The Euro became valid on 01/01/1999 but the coins and notes werefirst introduced on 01/01/2002. The Euro completely replaced the old currency on 01/07/2002; the old currency wasn't valid anymore. The countries that are participating and qualify to be a part of the economic and monetary union are, Belgium, Germany, Spain, France, Ireland, Italy, Luxemburg, The Netherlands, Austria, Portugal and Finland. One Euro is equal to 40.3399 BEF, 1.95583 DEM, 340.750 GRD, 166.386 ESP, 6.55957 FRF, .787654 IEP, 1936.27 ITL, 40.3399 LUF, 2.20371 NLG, 13.7603 ATS, 200.482 PTE, and 5.94573 FIM. The change in the currency affected the economy of the entire world in good and bad ways. Especially the states involved, some important factors changed in the everyday life. Things like the rent, the automobile market, Social security, and other things.
The Euro affected the renting of apartments and other facilities. During the changeover from a currency to the euro, the landowners couldn't change the contract that they had with the people who rent. The only thing that changed for them was the way of paying. After the changeover the landowners and the people who rent had to make changes in the contracts, but all that depended on the surroundings and the community they lived in. The Deposit on the space rented could have been changed to the Euro before the Euro became the currency, in order to omit some of the troubles that the changeover brought with it.
The Automobile market was affected positively for the consumers by the change. It is easier to compare the values of automobiles in all the Euro states then it was ever before. Sometimes it would pay off to go and buy a car in another country because it was cheaper, but through the unification the transparency of the price on automobiles will force car dealers to lower their prices to prevent the loss of customers. But in the future there will be no fixed prices on automobiles …