It was decided that choosing the word euro ought to favour no language in particular. This created a solid foundation for the new currency. However, not only the "professional euro-sceptics", but many others too would not have predicted that the euro would be such a success.
The euro came into being on 1 January 1999 and it is now the currency in 16 Member States of the European Union. With the creation of the euro, it became clear that a currency could represent a decisive step on the long path towards an ever closer union among the peoples of Europe. Since the euro’s introduction, Europeans have benefited from price stability.