Publication: Cryptocurrencies and the future of money. Money and trust in Spain
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Date
2020-03-27
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IE Center for the Governance of Change
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Abstract
The euro was established by the provisions of the 1992 Maastricht Treaty, and is now the official currency of 19 of the 28 member states of the European Union, including Spain. It has replaced the previous Spanish currency, Spanish peseta, which will cease to be convertible to euros by 2020. As of today, the euro is the second-largest reserve currency as well as the second-most traded currency in the world after the US dollar. The euro has even surpassed the US dollar and become the currency with the highest values of banknotes and coins in circulation in the world. As can be seen in the figures below, the supply of money since 1980 (during both pre and post euro periods) and has a steady increase with stable increase in consumer prices (CPI).
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Attribution 4.0 International
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IE Center for the Governance of Change
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Seiferling, M., Ahmed, T., ElBahrawy, A. Y., Chan, K., & Padilha, T. (2020). Cryptocurrencies and the future of money. Money and trust in Spain. Zenodo. https://doi.org/10.5281/zenodo.3731040