Money Matters: An IMF Exhibit -- The Importance of Global Cooperation

Globalization and Integration (1989-1999)

Part 6 of 8


Conflict &
(1871 - 1944)

Destruction &
(1945 - 1958)
The System
In Crisis

(1959 - 1971)
the System
(1972 - 1981)
Debt &
(1981 - 1989)
Globalization and Integration
(1989 - 1999)

European Economic Unity

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For the first time since the Roman Empire, Europe now shares a single currency – the euro. Introduced January 1, 1999, the euro represents the culmination of European economic integrations, which began in the 1950s.


Brussels, Belgium



Cooperation in Europe

The European Union manages political and economic cooperation among its 15 member countries. Born in the hope that shared sovereignty would make another war in Europe unthinkable, the European Union is dedicated to creating an ever closer political and economic union among the peoples of Europe.


Economic and Monetary Union

The introduction of a common euro currency marks the final phase of Europe’s Economic and Monetary Union (EMU). As of January 1999, the euro is the currency for eleven countries (four European Union countries have opted out at this time):

  • Euroland (the euro zone) accounts for almost 20% of world trade and world GDP.
  • Euroland is the world’s second largest economy.


World Currencies


Transition to the Free Market Collapse of the Soviet Union Recovery From Debt Progress in Africa
Asia in the 1990s European Economic Unity The New Millennium Looking to the Future

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