64-594: The Deutschlandticket ( lit. ' Germany ticket ' ) often shorted to the D-Ticket , also known as the 49-Euro-Ticket , is a subscription public transport ticket for all local public transport, valid in the whole of Germany, that costs 49 euros per month. The Scholz cabinet introduced it in May 2023 as a permanent successor to the 9-Euro-Ticket which had been offered in Summer 2022. The German federation ( Bund ) and
128-549: A Deutschlandticket at no additional charge. After the start of the Russian invasion of Ukraine , energy prices in Germany rose significantly. In response, the government introduced the heavily subsidized 9-Euro-Ticket , which allowed unlimited use of public local transportation across Germany at a cost of 9 euros per calendar month. It was available for June, July, and August 2022. After the end of this 3-month period, politicians called for
192-594: A budget deficit of less than 3% of their GDP, a debt ratio of less than 60% of GDP (both of which were ultimately widely flouted after introduction), low inflation, and interest rates close to the EU average. In the Maastricht Treaty, the United Kingdom and Denmark were granted exemptions per their request from moving to the stage of monetary union which resulted in the introduction of the euro (see also United Kingdom and
256-510: A deadline to do so and can delay the process by deliberately not complying with the convergence criteria (such as by not meeting the convergence criteria to join ERM II). Bulgaria and Romania are actively working to adopt the euro, while the remaining states do not have a migration plan in progress. The euro is divided into 100 cents (also referred to as euro cents , especially when distinguishing them from other currencies, and referred to as such on
320-547: A foreign trading currency in Cuba since 1998, Syria since 2006, and Venezuela since 2018. In 2009, Zimbabwe abandoned its local currency and introduced major global convertible currencies instead, including the euro and the United States dollar. The direct usage of the euro outside of the official framework of the EU affects nearly 3 million people. Outside the eurozone, two EU member states have currencies that are pegged to
384-473: A number of special territories of EU members also use the euro as their currency. Additionally, over 200 million people worldwide use currencies pegged to the euro . The euro is the second-largest reserve currency as well as the second-most traded currency in the world after the United States dollar . As of December 2019, with more than €1.3 trillion in circulation, the euro has one of
448-501: A permanent successor ticket that would offer similar simplicity, though there was debate about the price. At the end of November 2022, transport ministers reaffirmed their commitment to the monthly ticket for 49 euros, and it was planned to start in April 2023, as a start in January was considered too early for implementation. The start was delayed further by one month as there was opposition from
512-739: A similar scheme in their country. On 30 June 2023, influenced by Deutschlandticket, the eco-socialist LIVRE party proposed a monthly rail pass for the regional trains by the state-owned rail operator Comboios de Portugal in the country's annual budget. The proposal passed in parliament , and the Portuguese government said it was introducing a 49 euros per month regional rail pass called the Passe Ferroviário Nacional (National Train Pass) from 1 August 2023. It would allow unlimited travel on all regional trains , known as comboios regionais apart from
576-583: Is a major donor to the EFSF. To be included in the eurozone, countries had to fulfil certain convergence criteria , but the meaningfulness of such criteria was diminished by the fact it was not enforced with the same level of strictness among countries. According to the Economist Intelligence Unit in 2011, "[I]f the [euro area] is treated as a single entity, its [economic and fiscal] position looks no worse and in some respects, rather better than that of
640-524: Is also the sole currency in three overseas territories of France that are not themselves part of the EU, namely Saint Barthélemy , Saint Pierre and Miquelon , and the French Southern and Antarctic Lands , as well as in the British Overseas Territory of Akrotiri and Dhekelia . The euro has been adopted unilaterally as the sole currency of Montenegro and Kosovo. It has also been used as
704-465: Is discouraged by the commission, as is the practice of certain shops of refusing to accept high-value euro notes. Commemorative coins with €2 face value have been issued with changes to the design of the national side of the coin. These include both commonly issued coins, such as the €2 commemorative coin for the fiftieth anniversary of the signing of the Treaty of Rome, and nationally issued coins, such as
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#1732858531208768-456: Is not valid on most of the long-distance trains (such as Intercity Express (ICE), Intercity (IC) and Eurocity (EC) trains operated by Deutsche Bahn ) and on long-distance bus coaches (such as those operated by Flixbus ). There are exceptions for long-distance trains, which are co-financed by cities and states. The ticket is only valid for transportation in second class. Often it is possible to buy upgrades to first class (if available) from
832-407: Is sold by participating local transit authorities. It is issued as a digital ticket via mobile apps offered by local transit authorities. It can also be issued on a chip smartcard using the "eTicket Deutschland" standard. Employers can subsidise the ticket for their employees, and university students can upgrade their "Semesterticket" to a Deutschlandticket. Some communities have additionally subsidised
896-606: Is the official currency of 20 of the 27 member states of the European Union . This group of states is officially known as the euro area or, more commonly, the eurozone . The euro is divided into 100 euro cents . The currency is also used officially by the institutions of the European Union , by four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia , as well as unilaterally by Montenegro and Kosovo . Outside Europe,
960-672: Is usually valid on international eligible trains from/to end stations in a neighbour country, if operated by a German operator. Deutschlandticket holders can also go to a number of border tariff stations outside Germany using their passes including; Tønder ( Tønder Bahnhof [ de ] ) in Denmark, Wissembourg ( Gare de Wissembourg ) in France, Basel in Switzerland and Świnoujście ( Świnoujście Centrum [ pl ] ) in Poland. It
1024-591: The dobra of São Tomé and Príncipe was officially linked with the euro. Additionally, the Moroccan dirham is tied to a basket of currencies, including the euro and the US dollar, with the euro given the highest weighting. These countries generally had previously implemented a currency peg to one of the major European currencies (e.g. the French franc , Deutsche Mark or Portuguese escudo ), and when these currencies were replaced by
1088-501: The " eurozone ", some 347 million people in total as of 2023 . According to bilateral agreements with the EU , the euro has also been designated as the sole and official currency in a further four European microstates awarded minting rights (Andorra, Monaco, San Marino and the Vatican City). All but one (Denmark) current, and any potential future EU members, are obliged to adopt the euro when economic conditions permit. The euro
1152-537: The ECB has sole authority to set monetary policy . The Eurosystem participates in the printing, minting and distribution of euro banknotes and coins in all member states, and the operation of the eurozone payment systems. The 1992 Maastricht Treaty obliges most EU member states to adopt the euro upon meeting certain monetary and budgetary convergence criteria , although not all participating states have done so. Denmark has negotiated exemptions, while Sweden (which joined
1216-581: The ECB's banknotes are put into circulation by the NCBs, thereby incurring matching liabilities vis-à-vis the ECB. These liabilities carry interest at the main refinancing rate of the ECB. The other 92% of euro banknotes are issued by the NCBs in proportion to their respective shares of the ECB capital key, calculated using national share of European Union (EU) population and national share of EU GDP, equally weighted. Member states are authorised to print or to commission bank note printing. As of November 2022 , these are
1280-419: The EU in 1995, after the Maastricht Treaty was signed) turned down the euro in a 2003 non-binding referendum , and has circumvented the obligation to adopt the euro by not meeting the monetary and budgetary requirements. All nations that have joined the EU since 1993 have pledged to adopt the euro in due course. The Maastricht Treaty was amended by the 2001 Treaty of Nice , which closed the gaps and loopholes in
1344-457: The European Union , the Latin alphabet version of euro is used (as opposed to the less common Greek or Cyrillic) and Arabic numerals (other text is used on national sides in national languages, but other text on the common side is avoided). For the denominations except the 1-, 2- and 5-cent coins, the map only showed the 15 member states of the union as of 2002. Beginning in 2007 or 2008 (depending on
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#17328585312081408-466: The Maastricht and Rome Treaties. The 20 participating members are EU Outermost Regions : Overseas Territories : Special Autonomous Territories : Microstates with a monetary agreement: British Overseas Territory : Unilateral adopters: The following EU member states committed themselves in their respective Treaty of Accession to adopt the euro. However they do not have
1472-526: The Portuguese escudos , which ceased to have monetary value after 31 December 2002, although banknotes remained exchangeable until 2022. A special euro currency sign (€) was designed after a public survey had narrowed ten of the original thirty proposals down to two. The President of the European Commission at the time ( Jacques Santer ) and the European Commissioner with responsibility for
1536-478: The US or the UK" and the budget deficit for the euro area as a whole is much lower and the euro area's government debt/GDP ratio of 86% in 2010 was about the same level as that of the United States. "Moreover", they write, "private-sector indebtedness across the euro area as a whole is markedly lower than in the highly leveraged Anglo-Saxon economies". The authors conclude that the crisis "is as much political as economic" and
1600-484: The United States were relatively strong creditors – gained attention in summer 2012 even as Germany received a debt-rating warning of its own. The euro is the sole currency of 20 EU member states : Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. These countries constitute
1664-464: The coin to commemorate the 2004 Summer Olympics issued by Greece. These coins are legal tender throughout the eurozone. Collector coins with various other denominations have been issued as well, but these are not intended for general circulation, and they are legal tender only in the member state that issued them. A number of institutions are authorised to mint euro coins: The design for the euro banknotes has common designs on both sides. The design
1728-420: The common side of all cent coins). In Community legislative acts the plural forms of euro and cent are spelled without the s , notwithstanding normal English usage. Otherwise, normal English plurals are used, with many local variations such as centime in France. All circulating coins have a common side showing the denomination or value, and a map in the background. Due to the linguistic plurality in
1792-447: The concerned operator. Children under 6 years old travel for free, while older children need their own ticket. The Deutschlandticket does not include transportation for pets or for bicycles in cases where they require a separate ticket. The Deutschlandticket is sold as a monthly subscription at a cost of 49 euros per month. The ticket is valid for a calendar month, and is automatically renewed, with payment taken by SEPA direct debit from
1856-487: The country that issued the coin. Euro coins from any member state may be freely used in any nation that has adopted the euro. The coins are issued in denominations of €2 , €1 , 50c , 20c , 10c , 5c , 2c , and 1c . To avoid the use of the two smallest coins, some cash transactions are rounded to the nearest five cents in the Netherlands and Ireland (by voluntary agreement) and in Finland and Italy (by law). This practice
1920-449: The country), the old map was replaced by a map of Europe also showing countries outside the EU . The 1-, 2- and 5-cent coins, however, keep their old design, showing a geographical map of Europe with the EU member states as of 2002, raised somewhat above the rest of the map. All common sides were designed by Luc Luycx . The coins also have a national side showing an image specifically chosen by
1984-413: The day-to-day operating currency of its original members, and by March 2002 it had completely replaced the former currencies. Between December 1999 and December 2002, the euro traded below the US dollar, but has since traded near parity with or above the US dollar, peaking at US$ 1.60 on 18 July 2008 and since then returning near to its original issue rate. On 13 July 2022, the two currencies hit parity for
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2048-537: The euro ( Yves-Thibault de Silguy ) then chose the winning design. Regarding the symbol, the European Commission stated on behalf of the European Union : The symbol € is based on the Greek letter epsilon (Є), with the first letter in the word "Europe" and with 2 parallel lines signifying stability. The European Commission also specified a euro logo with exact proportions. Placement of the currency sign relative to
2112-543: The euro ). The name "euro" was officially adopted in Madrid on 16 December 1995. Belgian Esperantist Germain Pirlot , a former teacher of French and history, is credited with naming the new currency by sending a letter to then President of the European Commission , Jacques Santer , suggesting the name "euro" on 4 August 1995. Due to differences in national conventions for rounding and significant digits, all conversion between
2176-682: The euro , which is a precondition to joining the eurozone. The Danish krone and Bulgarian lev are pegged due to their participation in the ERM ;II . Additionally, a total of 21 countries and territories that do not belong to the EU have currencies that are directly pegged to the euro including 14 countries in mainland Africa ( CFA franc ), two African island countries ( Comorian franc and Cape Verdean escudo ), three French Pacific territories ( CFP franc ) and two Balkan countries, Bosnia and Herzegovina ( Bosnia and Herzegovina convertible mark ) and North Macedonia ( Macedonian denar ). On 1 January 2010,
2240-449: The euro their currencies became pegged to the euro. Pegging a country's currency to a major currency is regarded as a safety measure, especially for currencies of areas with weak economies, as the euro is seen as a stable currency, prevents runaway inflation, and encourages foreign investment due to its stability. In total, as of 2013 , 182 million people in Africa use a currency pegged to
2304-421: The eurozone are also treated as domestic transactions; however paper-based payment orders, like cheques, have not been standardised so these are still domestic-based. The ECB has also set up a clearing system , TARGET , for large euro transactions. The euro was established by the provisions in the 1992 Maastricht Treaty . To participate in the currency, member states are meant to meet strict criteria , such as
2368-422: The federal states ( Länder ) initially participate in the financing with 1.5 billion euros per year until 2025. Beginning in January 2025, the price of the ticket will be raised to € 58 per month. The ticket is valid on all local and regional buses, trams , metros , S-Bahn trains, and local and regional trains (RB/RE) across the whole of Germany, except on few RE trains operated by DB Fernverkehr . It
2432-452: The federal states about the financing of the ticket. The financing of the ticket is unclear. Both sides have so far contributed 1.5 billion euros annually. If there is not enough money, the federal and state governments currently share the additional costs. The federal government rejects further financial commitments from 2024. At the beginning of December 2023, the Stendal district decided that
2496-637: The first time in nearly two decades due in part to the 2022 Russian invasion of Ukraine . Then, in September 2022, the US dollar again had a face value higher than the Euro, at around US dollar 0.95 per euro. The euro is managed and administered by the European Central Bank (ECB, Frankfurt am Main ) and the Eurosystem , composed of the central banks of the eurozone countries. As an independent central bank,
2560-437: The highest combined values of banknotes and coins in circulation in the world. The name euro was officially adopted on 16 December 1995 in Madrid . The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$ 1.1743 at the time). Physical euro coins and banknotes entered into circulation on 1 January 2002, making it
2624-548: The initial designs by Robert Kalina were of specific bridges, including the Rialto and the Pont de Neuilly , and were subsequently rendered more generic; the final designs still bear very close similarities to their specific prototypes; thus they are not truly generic. The monuments looked similar enough to different national monuments to please everyone. The Europa series, or second series, consists of six denominations and no longer includes
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2688-592: The local and regional transportation services like the Munich MVV that wanted more funding from the federal and the state governments. On 31 March 2023, the Bundesrat approved the bill passed by the Bundestag for a nationwide ticket for local and regional public transportation at a monthly price of 49 euros. The monthly tickets started in May 2023, but could only be purchased by subscription. There are no paper tickets for
2752-630: The national currencies ceased to be legal tender varied from member state to member state. The earliest date was in Germany, where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for two months more. Even after the old currencies ceased to be legal tender, they continued to be accepted by national central banks for periods ranging from several years to indefinitely (the latter for Austria, Germany, Ireland, Estonia and Latvia in banknotes and coins, and for Belgium, Luxembourg, Slovenia and Slovakia in banknotes only). The earliest coins to become non-convertible were
2816-554: The national currencies had to be carried out using the process of triangulation via the euro. The definitive values of one euro in terms of the exchange rates at which the currency entered the euro are shown in the table. The rates were determined by the Council of the European Union , based on a recommendation from the European Commission based on the market rates on 31 December 1998. They were set so that one European Currency Unit (ECU) would equal one euro. The European Currency Unit
2880-688: The numeric amount varies from state to state, but for texts in English published by EU institutions, the symbol (or the ISO -standard "EUR") should precede the amount. Following the U.S. financial crisis in 2008, fears of a sovereign debt crisis developed in 2009 among investors concerning some European states, with the situation becoming particularly tense in early 2010 . Greece was most acutely affected, but fellow Eurozone members Cyprus , Ireland , Italy , Portugal , and Spain were also significantly affected. All these countries used EU funds except Italy, which
2944-403: The printers: Capital within the EU may be transferred in any amount from one state to another. All intra-Union transfers in euro are treated as domestic transactions and bear the corresponding domestic transfer costs. This includes all member states of the EU, even those outside the eurozone providing the transactions are carried out in euro. Credit/debit card charging and ATM withdrawals within
3008-443: The proposal were mixed, with the region of Grand Est being supportive of the idea, while the region of Hauts-de-France was critical particularly over costs, pointing out that the region already subsidises its TER to the tune of 530 million euros. The president of the Île-de-France region Valérie Pécresse said in an interview on France 3 Paris Île-de-France , that the costs for such a scheme would be around 1.8 billion euros for
3072-502: The public; a design competition will also be held. Since 1 January 2002, the national central banks (NCBs) and the ECB have issued euro banknotes on a joint basis. Eurosystem NCBs are required to accept euro banknotes put into circulation by other Eurosystem members and these banknotes are not repatriated. The ECB issues 8% of the total value of banknotes issued by the Eurosystem. In practice,
3136-484: The region, making it unaffordable. Wissing has said he would like to interlink the two schemes, so that persons could use either pass in each other's countries. On 27 September, Beaune and the presidents of all regions came together in Saint-Malo to begin discussions on financing such a scheme, together with general rail finance such as track fees and rolling stock. It is hoped that such a subscription would be available by
3200-455: The result of the fact that the euro area lacks the support of "institutional paraphernalia (and mutual bonds of solidarity) of a state". The crisis continued with S&P downgrading the credit rating of nine euro-area countries, including France, then downgrading the entire European Financial Stability Facility (EFSF) fund. A historical parallel – to 1931 when Germany was burdened with debt, unemployment and austerity while France and
3264-461: The subscription – with the possible exception at the start-up phase; the users have to authenticate digitally (either via smartphone app or chip card). The ticket price is to be adjusted to inflation each year, although the 49 euro price is intended to be fixed for at least the first two years of operation of the ticket. On 31 July, three months after the introduction of the Deutschlandticket,
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#17328585312083328-464: The successor to the European Currency Unit (ECU). The notes and coins for the old currencies, however, continued to be used as legal tender until new euro notes and coins were introduced on 1 January 2002. The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, until 28 February 2002. The official date on which
3392-555: The summer of 2024. A report produced for Greenpeace by the Greengauge 21 think tank suggested that a similar scheme might increase usage of UK train routes and reduce the climate impact of fossil fuel powered vehicles. The Department for Transport responded to the report by stating that the UK Government has no plans to implement a similar scheme at the present time. Euro The euro ( symbol : € ; currency code : EUR )
3456-427: The ticket for those on low income, senior citizens and apprentices. The city of Tübingen has gone as far as subsidising the ticket for every resident, so they can get it for 34 euros per month. The local council in the city of Stuttgart has offered the Deutschlandticket to its employees as an employee benefit . The BahnCard 100 , a rail card offered by Deutsche Bahn allowing unlimited travel on its trains, includes
3520-477: The ticket will no longer be valid on its buses from January 1, 2024. This would have meant that the Deutschlandticket would no longer be valid across the board. However, the district council reverted its decision two weeks later and the Deutschlandticket remains a valid ticket in the Stendal district. Due to the popularity and interest in the Deutschlandticket in Germany, other countries expressed interest in introducing
3584-584: The tourist trains like the Comboio Histórico do Douro [ pt ] , and suburban rail services in Lisbon , Porto and Coimbra . Critics have said that due to the rules and exclusions of the pass, there are virtually no regional rail services in the middle of the country and frequent strikes by rail workers make the pass worthless. On 9 June 2023, German federal transport minister Volker Wissing said in an interview with Berliner Morgenpost , that he
3648-520: The transport ministry reported that 11 million people subscribed to the ticket, with 5 million being existing subscribers to monthly transport passes, 5 million new subscribers from existing public transport ticket holders and one million new users of public transport. On 13 September, the Hamburg transport agency reported that it had sold over a million subscriptions. Since the summer of 2023, Federal Transport Minister Volker Wissing ( FDP ) had argued with
3712-452: The transport ministry was provisionally working on a similar scheme called "Pass Rail" which would come in the summer of 2024. The ticket would allow unlimited travel throughout France on the country's regional trains, the TERs and the regular Intercités for 49 euros per month. Beaune said the government was talking to local authorities about including local bus and trams as well. Reactions to
3776-419: The user's bank account or by credit card. The subscription can be cancelled by the 10th day of each month. Users wishing to purchase a new subscription for the current month on the 11th day of the month or later must pay for at least the current and the following calendar month. The mo.pla app allows users to cancel their Deutschlandticket subscription up to the second-last day of the month. The Deutschlandticket
3840-433: The €500 with issuance discontinued as of 27 April 2019. However, both the first and the second series of euro banknotes, including the €500, remain legal tender throughout the euro area. In December 2021, the ECB announced its plans to redesign euro banknotes by 2024. A theme advisory group, made up of one member from each euro area country, was selected to submit theme proposals to the ECB. The proposals will be voted on by
3904-560: Was already two years old. While the conversion rates for the initial eleven currencies were determined only hours before the euro was introduced, the conversion rate for the Greek drachma was fixed several months beforehand. The currency was introduced in non-physical form ( traveller's cheques , electronic transfers, banking, etc.) at midnight on 1 January 1999, when the national currencies of participating countries (the eurozone) ceased to exist independently. Their exchange rates were locked at fixed rates against each other. The euro thus became
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#17328585312083968-496: Was an accounting unit used by the EU, based on the currencies of the member states; it was not a currency in its own right. They could not be set earlier, because the ECU depended on the closing exchange rate of the non-euro currencies (principally pound sterling ) that day. The procedure used to fix the conversion rate between the Greek drachma and the euro was different since the euro by then
4032-505: Was created by the Austrian designer Robert Kalina . Notes are issued in €500 , €200 , €100 , €50 , €20 , €10 , and €5 . Each banknote has its own colour and is dedicated to an artistic period of European architecture. The front of the note features windows or gateways while the back has bridges, symbolising links between states in the union and with the future. While the designs are supposed to be devoid of any identifiable characteristics,
4096-461: Was talking to his French counterpart Clément Beaune about the scheme in a meeting between the two ministers during a discussion about a Franco-German student travel scheme. In an interview with French YouTuber Hugo Travers on 4 September 2023, French president Emmanuel Macron said his government is looking at a French equivalent of the Deutschlandticket. Later that week on 7 September, on France 2 's breakfast programme Télématin , Beaune said
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