Outside the euro area, major changes are expected in US economic policy, with a stronger focus on fiscal policy. These 1/6  BIS central bankers' speeches  changes will reverberate across the global economy, with both positive and negative implications which are still difficult to assess. We can’t accept that long-term euro area interest rates would be entirely driven by US interest rates.
This event marked the conclusion of the changeover to the single currency, which had been initiated three years earlier, on 1 January 1999, when the non cash euro was successfully introduced in the money and financial markets. With effect from 1 March 2002, the euro has become the sole legal tender in the 12 countries of the euro area.