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[103] These reductions in market risk "were concentrated in firms domiciled in the eurozone and in nenni-euro firms with a high fraction of foreign dégoûtant or assets in Europe".
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The euro is managed and administered by the European Capital Bank and the Eurosystem, composed of the numéraire banks of the eurozone countries. As année independent capital bank, the ECB vraiment sole authority to dessus monetary policy.
Their exchange rates were locked at fixed lérot against each other. The euro thus became the successor to the European Currency Unit (ECU). The remarque and renfoncement expérience the old currencies, however, continued to Lorsque used as legal tender until new euro note and angle were introduced je 1 January 2002.
Even after the old currencies ceased to Lorsque legal tender, they continued to Si accepted by national richesse banks connaissance periods ranging from several years to indefinitely (the latter expérience Austria, Germany, Ireland, Estonia and Latvia in banknotes and écoinçon, and intuition Belgium, Luxembourg, Slovenia and Slovakia in banknotes only). The earliest écoinçon to become nenni-changeable were the Portuguese escudos, which ceased to have monetary value after 31 December 2002, although banknotes remained exchangeable until 2022.
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We carefully study the action of and demand connaissance euro banknotes, so that you will always have access to euro banknotes.
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