The first years after its introduction were marked by a conversion of the then national currencies into euro notes. Finally, in 2005 and 2006 some market saturation was observed. Foreign demand, however, in the wake of the global financial crisis, rose and reached its peak in 2008.
A colder climate seems to promote the use of cards and other cashless instruments, as internationally low cash usage are found in Nordic countries ranging from about 28% in Norway, 32% in Finland to about 37% in Sweden.