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Germany
1 January 2002 in 12 Member States of the European Union introduced a new cash flow single currency called the euro. This is intended for the European currency in more than 320-year-millions of Europeans, and with private treatment areas and 500 million people. European Euro has international designation EUR. 1 European euro is equivalent to 100 cents. The cash turnover participate banknotes of 5, 10, 20, 50, 100, 200 and 500 euros, as well as coins in denominations of 1, 2, 5, 10, 20 and 50 cents. European euro is managed and administered by the European Central Bank, located in Frankfurt. Until the end of 2012 the National Bank will exchange national banknotes to the European EURO free. For almost all EU member European single currency is the only currency of further European euro is used in a number of countries that are not members of the European Union, under the current agreement with the European Central Bank. Of them in the "first wave" were such countries as Austria, Belgium, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, Finland, France, the Vatican, Mayotte, Monaco, San Marino, Saint Pierre and Miquelon. Somewhat later they were joined by Greece, Slovenia, Cyprus, Malta and Slovakia. There are a number of countries and territories in which the European currency is used informally, is: Akrotiri and Dhekelia, Andorra, Kosovo, Saint Barthelemy, Saint Martin and Montenegro.