20 Years of the Euro: Winners and Losers | cep (2024)

FAQs

Who benefited the most from the euro? ›

In its analysis, cep comes to the conclusion that Germany has gained most from the introduction of the euro: almost € 1.9 trillion between 1999 and 2017. This amounts to around € 23,000 per inhabitant. Otherwise, only the Netherlands has gained substantial benefits from the introducing the euro.

“Evidence for overall economic growth in euro-adopting countries is decidedly mixed, though the effects differ across countries. However, evidence for the growth effect of EU integration is generally positive.

The international role of the euro remained broadly stable in 2023. The share of the euro across various indicators of international currency use remained above 19%, close to the average since its introduction in 1999.

Monaco: Monaco adopted the euro as its official currency in 2002. Montenegro: Montenegro adopted the euro as its official currency in 2002. San Marino: San Marino adopted the euro as its official currency in 2002. Vatican City: Vatican City adopted the euro as its official currency in 2002.

Luxembourg is the wealthiest country in the European Union, per capita, and its citizens enjoy a high standard of living.

At the same time, according to the government in Berlin, Germany benefits the most from the EU single market, gaining more than five times as much from it, some EUR 132 billion a year. When asked by the DPA about Germany's specific contributions to the EU budget, the Commission declined to comment on the figures.

Kuwaiti dinar

You will receive just 0.30 Kuwait dinar after exchanging 1 US dollar, making the Kuwaiti dinar the world's highest-valued currency unit per face value, or simply 'the world's strongest currency'.

The Iranian rial is currently considered the weakest currency in the world, with 1 USD equal to approximately 514,000 IRR on the black market rate.

Although Europe's money today accounts for no more than a quarter of global reserves, compared with a nearly two-thirds share for the dollar, the euro could nonetheless surpass the greenback within as few as 10 years, according to one well-publicized econometric forecast (Chinn and Frankel, 2008).

Why does Sweden not use the euro? ›

2003 referendum

A referendum held in September 2003 saw 55.9 percent vote against membership of the eurozone. As a consequence, Sweden decided in 2003 not to adopt the euro for the time being. If they had voted in favour, Sweden would have adopted the euro on 1 January 2006.

Denmark joined the European Union in 1973. It has negotiated an opt-out from the euro and is thus not obliged to introduce it.

Poland was the biggest monetary benefactor from the EU, coming out with 11.9 billion euros earned, far ahead of Greece (4.3 billion euros) and Hungary (4.1 billion euros). But being on top of this list doesn't have to send a country scrambling to leave the political union.

Answer and Explanation: European colonial powers benefited most from imperialism. These included: Spain, Portugal, France, Britain, Belgium, Germany, and the Netherlands.

Answer and Explanation: The mother nations of colonies benefited most from mercantilism. This is because the colonial home nations (such as Spain or Britain) used mercantilism to acquire as many resources and assets as possible from their colonies.

Europeans benefited the most from the Columbian Exchange. During this time, the gold and silver of the Americas was shipped to the coffers of European treasuries, and food items from Africa and the Americas increased the life expectancy of people in Europe. Crops, like tobacco, fueled commerce even more.