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Timeline of European debt crisis

Banking » Timeline Of European Debt Crisis

Click through the timeline below to see how Europe's debt crisis began and evolved.

2012 Containing the crisis2012 Containing the crisis2010 The crisis spreads2010 The crisis spreads2011 Crisis deepens2011 Crisis deepens2009 Greece's accounting unravels2009 Greece's accounting unravels2008 Financial crisis hits US, Europe1999 Euro is introduced2008 Financial crisis hits US, Europe

1999

The euro is introduced with 11 founding countries

Earlier in the decade, in 1992, the European Economic Community was officially formed with the signing of the Maastricht Treaty. The euro was introduced and adopted by 11 countries in 1999. Those countries were Belgium, Germany, Ireland, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland. Greece joined in 2001.

National currencies began to be phased out in 2002, and the euro became the official currency of the region. Since 2007, five other countries have joined the euro area, including Slovenia, Cyprus, Malta, Slovakia and Estonia.

 

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