Question

    When was the Euro officially adopted as the common European

    currency?
    A January 2002 Correct Answer Incorrect Answer
    B January 2003 Correct Answer Incorrect Answer
    C January 2005 Correct Answer Incorrect Answer
    D January 1999 Correct Answer Incorrect Answer

    Solution

    The Euro was officially adopted as the common currency of the European Union for electronic transactions and accounting purposes in January 1999. However, the physical Euro banknotes and coins were only introduced into circulation later, in January 2002. This two-stage implementation allowed for a transition period for financial markets and systems to adapt to the new currency.

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