碰男将多大是 高级商务英语阅读 centimes.Likewise,in Spain centimo is still frequently heard.In Irish one speaks of euro and ceint as the plurals.In English-speaking Ireland,both euros and euro may be heard for the plural,or occasionally quid.Speaking of several cent would be unusual. The euro is administered by the European System of Central Banks(ESCB),composed of the European Central Bank(ECB)and the national central banks of the member states participating in the euro.The ECB (headquartered in Frankfurt am Main,Germany)has sole authority to set monetary policy;the other members of the ESCB participate in the printing,minting and distribution of notes and coins,and the operation of the Eurozone payment system. Transition The euro was established by the provisions in the 1992 Maastricht Treaty on European Union relating to establishing an economic and monetary union.In order to participate in the new currency, member states had to meet strict criteria such as a budget deficit of less than 3%of GDP,a debt ratio of less than 60%of GDP,combined with low inflation and interest rates close to the EU average. The currency was introduced in non-physical form(traveller's checks,electronic transfers,banking, etc.)at midnight on January 1,1999,when the national currencies of participating countries (the Eurozone)ceased to exist independently in that their exchange rates were locked at fixed rates against each other,effectively making them mere subdivisions of the euro;the Euro thus became the successor to the older European Currency Unit (ECU).The notes and coins for the old currencies,however,continued to be used as legal tender until new notes and coins were introduced on January 1,2002 and the changeover period ended on February 28,2002. The changeover period during which the former currencies'notes and coins were exchanged for those of the euro generally lasted two months.The official date on which the national currencies ceased to be legal tender varied from member state to member state.The earliest date was in Germany,where the Deutschmark officially ceased to be legal tender on December 31,2001, though the exchange period lasted two months.The final date was February 28,2002,by which all national currencies ceased to be legal tender in their respective member states.(Note that some of 第2页共7页高级商务英语阅读 centimes. Likewise, in Spain céntimo is still frequently heard. In Irish one speaks of euro and ceint as the plurals. In English-speaking Ireland, both euros and euro may be heard for the plural, or occasionally quid. Speaking of several cent would be unusual. The euro is administered by the European System of Central Banks (ESCB), composed of the European Central Bank (ECB) and the national central banks of the member states participating in the euro. The ECB (headquartered in Frankfurt am Main, Germany) has sole authority to set monetary policy; the other members of the ESCB participate in the printing, minting and distribution of notes and coins, and the operation of the Eurozone payment system. Transition The euro was established by the provisions in the 1992 Maastricht Treaty on European Union relating to establishing an economic and monetary union. In order to participate in the new currency, member states had to meet strict criteria such as a budget deficit of less than 3% of GDP, a debt ratio of less than 60% of GDP, combined with low inflation and interest rates close to the EU average. The currency was introduced in non-physical form (traveller's checks, electronic transfers, banking, etc.) at midnight on January 1, 1999, when the national currencies of participating countries (the Eurozone) ceased to exist independently in that their exchange rates were locked at fixed rates against each other, effectively making them mere subdivisions of the euro; the Euro thus became the successor to the older European Currency Unit (ECU). The notes and coins for the old currencies, however, continued to be used as legal tender until new notes and coins were introduced on January 1, 2002 and the changeover period ended on February 28, 2002. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro generally lasted two months. The official date on which the national currencies ceased to be legal tender varied from member state to member state. The earliest date was in Germany, where the Deutschmark officially ceased to be legal tender on December 31, 2001, though the exchange period lasted two months. The final date was February 28, 2002, by which all national currencies ceased to be legal tender in their respective member states. (Note that some of 第 2 页 共 7 页