The Euro after five years, January 2005

On the 1 January 1999 eleven European Union countries (Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland) irrevocably established the conversion rates between their respective national currencies and the euro and created a monetary union with a single currency. Greece joined this 'eurozone' grouping on the 1 January 2001. Euro banknotes and coins entered circulation on 1st January 2002.

This In Focus brings together a range of information sources that discuss the first five years of the euro. Further information sources can be found from the link at the bottom of the In Focus. For information specifically on economic governance and the future of the Stability Pact there is a separate In Focus 'European Commission adopts proposals to strengthen economic governance and clarify the implementation of the Stability and Growth Pact, September 2004' (see link below).

EU: Report

	European Commission: DG Economic and Financial Affairs: Events: Conference: The Euro after five years. Successes, lessons and challenges, Amsterdam, 11-12 October 2004
	European Commission: DG Press and Communication: Flash Eurobarometer, No.165, December 2004: The Euro, 3 years later
	European Central Bank: Publication: Convergence Report 2004
	European Commission: DG Economic and Financial Affairs: Publications: European Economy: Special Reports, No.1, 2004: EMU after five years
	European Central Bank: Publication: Review of the international role of the euro, Fourth annual review, January 2005
	European Commission: DG Press and Communication: Flash Barometer: Introduction of the euro in the new member states, October 2004
	European Central Bank: Publication: The European Central Bank - History, role and functions, 2004

EU: Background

	European Commission: Press Release: IP/04/964: First five years of the euro a success, says the Commission, but difficult challenges lie ahead
	European Commission: Press Release: IP/04/1530: Commission issues first report on the state of practical preparations for the further enlargement of the euro area, November 2004
	European Central Bank
	European Central Bank: Speech: The euro - five years on, February 2004
	European Central Bank: Speech: The ECB and the euro - the first five years, May 2004
	European Central Bank: Speech: Five years of the euro: Successes and new challenges, May 2004
	European Commission: Speech/04/486: EMU: past experience and prospects
	European Commission: DG Economic and Financial Affairs: The euro: our currency
	European Central Bank: Speech: The euro after five years: assessing its performance and global role, November 2004

International Organisation

	International Monetary Fund: Publications: Country Report, No.235, 2004: Euro Area Policies: Selected Issues
	International Monetary Fund: Publications: Finance and Development, Vol.41, No.2, June 2004: Euro turns five. Europe's great experiment
	OECD: Publications: Policy Brief: Euro Area, July 2004

Stakeholder organisation

Institute of Economic Affairs: The ECB and the euro: the first five years, 2004

Commercial publisher and media

	The Economist, No.8395, 2.10.04: Economic focus: Growing apart
	BBC News, 5.1.04: The fall and rise of the euro
	Financial Times, 28.12.04: Sickly dollar dives against euro
	BBC News, 20.10.04: New EU members face tough euro test

Other

Federal Reserve Bank of Dallas: Southwest Economy, Issue 4, July-August 2004: Five Years of the Euro: Successes and New Challenges

Related Topic Guides / In Focus

	ESO: Topic Guide: Economic and Monetary Union
	ESO: In Focus: European Commission adopts proposals to strengthen economic governance and clarify the implementation of the Stability and Growth Pact, September 2004
	ESO: Topic Guide: The European Central Bank

Related Publications

Journal Articles

EMU: Current state and future prospects (Journal of Common Market Studies, Vol.42, No.4, November 2004 (Special issue)

Governing informally: the role of the Eurogroup in EMU and the Stability and Growth Pact (Journal of European Public Policy, Vol.11, No.5, October 2004, p854-870)

Happy Birthday, dear euro (Business Week, 8.12.03, p34-35 (European edition))

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