Euro Adoption and Eurozone Formation (1992-2015)

1. Maastricht Treaty signed, launching euro project

   Feb 7, 1992Labels: Maastricht Treaty, EMU

   • Britannica
   • ECB

2. Maastricht Treaty enters into force

   Nov 1, 1993Labels: Maastricht Treaty, European Union

   • Britannica
   • EUR Lex

3. European Monetary Institute begins EMU Stage Two

   Jan 1, 1994Labels: European Monetary, Frankfurt

   • EUR Lex

4. Madrid Council sets euro changeover scenario

   Dec 16, 1995Labels: Madrid Council, Euro changeover

   • EU Summits
   • EU Commission

5. Stability and Growth Pact agreed

   Jun 17, 1997Labels: Stability and, EU fiscal

   • EU Commission
   • Eur Lex

6. Euro area founding members formally selected

   May 3, 1998Labels: Euro area, EU finance

   • EUR Lex
   • EU Commission

7. European Central Bank established

   Jun 1, 1998Labels: European Central, ECB

   • Bundesbank
   • EUR Lex

8. Conversion rates fixed for first-wave currencies

   Dec 31, 1998Labels: Conversion rates, First-wave currencies

   • EU Commission
   • Eurostat

9. Euro launched as accounting and electronic money

   Jan 1, 1999Labels: Euro launch, EMU Stage

   • Bundesbank
   • EU Commission

10. TARGET payment system launches for euro transfers

    Jan 4, 1999Labels: TARGET, Eurosystem

    • ECB
    • ECB Speech

11. Greece joins euro area

    Jan 1, 2001Labels: Greece, Euro area

    • EU Commission
    • ECB Intro

12. Euro banknotes and coins enter circulation

    Jan 1, 2002Labels: Euro cash, Banknotes and

    • ECB
    • ECB Intro

13. Slovenia becomes first post-2004 entrant to adopt euro

    Jan 1, 2007Labels: Slovenia, EU 2004

    • EU Commission
    • ECB Intro

14. Cyprus and Malta adopt the euro

    Jan 1, 2008Labels: Cyprus, Malta

    • EU Commission
    • ECB Intro

15. Slovakia adopts the euro

    Jan 1, 2009Labels: Slovakia, Euro adoption

    • EU Commission
    • ECB Intro

16. EFSF incorporated as temporary eurozone rescue fund

    Jun 7, 2010Labels: EFSF, Rescue fund

    • ESM

17. Six-Pack reforms enter into force

    Dec 13, 2011Labels: Six-Pack, EU reforms

    • EU Commission
    • Six Pack

18. ESM Treaty signed to create permanent rescue mechanism

    Feb 2, 2012Labels: ESM Treaty, European Stability

    • ESM Treaty
    • EUR Lex

19. ESM Treaty enters into force

    Sep 27, 2012Labels: ESM, Crisis management

    • EUR Lex
    • ESM Treaty

20. Latvia adopts the euro

    Jan 1, 2014Labels: Latvia, Euro adoption

    • EU Commission
    • ECB Intro

21. Lithuania adopts the euro, closing 1992–2015 arc

    Jan 1, 2015Labels: Lithuania, Euro adoption

    • EU Commission
    • ECB Intro