January 1 is Euro Day, the currency used in 19 European countries, out of the 28 EU member states.
On December 16, 1999, the name "Euro" was officially adopted for the single currency, and it began to exist on January 1, 1999.
For more than 30 years, European leaders have planned to issue one currency to the entire continent. After long and difficult negotiations, and much opposition from Britain (which to this day uses its own currency, the Pound Sterling), the currency was finally born in 1999 and is currently used by some 343 million Europeans in Austria, Estonia, Italy, Ireland, Belgium, Germany, the Netherlands, Greece , Luxembourg, Latvia, Lithuania, Malta, Slovenia, Slovakia, Spain, Portugal, Finland, France and Cyprus.
The name of the currency is adapted in each country to the pronunciation of the word Europe in the language used. In Germany, for example, the continent is called "Europa" and therefore the currency is called "Euro". In Italian and Spanish they also say "Europa" and the currency is called "Euro". In Russian they say Yevropa and the currency is called Yevro. In English, the currency is called "Euro" after the continent "Europe".
How to celebrate Euro Day?
Today is a perfect day to learn about the currency, which in the future will be used by more countries. One can also learn about the culture of the European countries that use it and their previous currencies.
In 1929, on October 24, a destructive process began that had many implications for history. On this day, the New York Stock Exchange on Wall Street collapsed and blew up the pink bubble of many Americans who believed they had a lot of money.
It was the end of a ten-year period in which many people invested their savings in stocks and even borrowed a lot of money from banks to buy more, believing it was the best way to double and triple their money. The peak period came in the middle of 1929. The banks encouraged buying the shares and gave cheap credit until their prices were so high and exaggerated that the fall was inevitable.
The day the stock exchange began to collapse was called "Black Thursday."
Five days later, the second stage of the collapse, the great collapse that led to huge losses for millions of Americans and led to the worst economic depression in American history, came on October 29 and was called "Black Tuesday." The collapse caused public panic.
Masses of people who invested their best money on the stock market went into debt. Many banks went bankrupt because they gave many loans to people who could not repay them. Many businesses have lost their credit limit and have been closed down, making millions of people unemployed.
The collapse of the stock exchange also affected Europe. The difficult economic situation has also affected the political stability of many countries and sees it as one of the causes of the outbreak of World War II.
One of the stories from that period is about Joe Kennedy, a famous rich guy who left the stock market on time and saved his money. He said he discovered that investing in the stock market was a fashionable trend and was too popular when his shoe-shine chef gave him tips on investing.
Another investor who told about the early signs of the collapse was Bernard Baruch, who said he saw the signs as taxi drivers would talk to him about their investments and give him advice.
October 29th is also Internet Day
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