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The Single European Act increased Political co-operation between the six EEC countries in 1986. In 1992, the ambitious Maastricht Treaty was signed setting a deadline of January 1999 for a shared currency. The treaty created the European Union following a single monetary and exchange rate policy with shared economic policies.
The Euro circulated in January 1999 as planned. The 11 member countries officially pegged their exchange rates to the euro. Companies began using the euro for internal reporting, invoicing and also for issuing bonds. Stocks began trading in euros and banks started offering euro credit-card accounts and provided euro balances for bank accounts...
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