European Commission

The number of counterfeit euro coins increased in 2007 by 29% over 2006. The European Commission reported 211,000 counterfeit coins were pulled from circulation by authorities compared to 163,800 in 2006. The coin counterfeited the most was the 2-euro, which accounted for over 85% of the total. Overall, approximately 585,000 counterfeit coins have been take […]

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The European Commission (EU) hailed the smooth transition of Cyprus and Malta in joining the eurozone. Both countries began using new coins and banknotes January 1 when they officially adopted the euro. According to an EU release, retailers provided customers change only in euro: 92% of the time in Cyprus 91% of the time in […]

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Cyprus and Malta will both adopt the Euro on Jan. 1, 2008. When that happens, a total of 15 European Union (EU) countries will share the same currency. Switching a country and its population over to an entirely new currency is no small task, but everything appears to be going well based on an European […]