Brussels – How much is the euro worth? This is not a question for currency exchange bureaux, but rather the starting point for Piero Cipollone, a member of the Executive Committee at the European Central Bank responsible for the digital euro, to highlight just how widespread—and therefore how strong—the EU’s single currency is in the market. The answer to the question lies in the figures provided by Cipollone, which serve to summarise the currency’s significance: “There are over 31 billion euro banknotes in circulation, with a total value exceeding €1,600 billion, representing an annual growth of around 3 per cent. There are also more than 150 billion euro coins in circulation.”
Speaking at the conference on the future of the single currency at the House of the Euro in Brussels, Cipollone went on to point out that on Bulgaria’s adoption of the euro at the start of this year, “the single currency now unites 21 countries and over 358 million citizens.”
However, the figures are actually lower, as Cipollone only takes into account all official members of the eurozone. In addition to the 21 EU Member States that have adopted the single currency, Andorra, Monaco, San Marino and Vatican City also use the euro under specific monetary agreements. However, the European Central Bank is not responsible for the minting and management of cash, which is printed by the countries in question, nor for its supervision. Furthermore, Montenegro and Kosovo have introduced the euro on the basis of unilateral decisions. The ECB has no jurisdiction here either, but this brings the total number of countries using the euro to 27 and adds around 2.3 million more people using the single currency.
English version by the Translation Service of Withub
