The Euro (EUR) came into existence as a currency on January 1, 1999, for electronic transactions and euro banknotes and coins were introduced on January 1, 2002. It marked the culmination of the European Union's efforts to create a single currency for its member states.
The motivation behind the Euro was to facilitate economic integration and strengthen ties among European nations. The creation of the Euro aimed to streamline trade, eliminate exchange rate uncertainties, and enhance economic cooperation within the Eurozone, fostering a more unified European economic landscape.