The euro was launched 1999, when it became the currency of more than 300 million people in Europe. For the first three years it was an invisible currency, only used for accounting purposes, e.g. in electronic payments. Euro cash was not introduced until 1 January 2002, when it replaced, at fixed conversion rates, the banknotes and coins of the national currencies like the franc and the Deutsche Mark.Today, euro banknotes and coins are legal tender in 18 of 28 Member States of the European Union, including the overseas departments, territories and islands which are either part of, or associated with, euro area countries.
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