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| That's the wrong question to ask as the euro is a rather unique concept. The question to be answered is why the euro concept would work while every other currency doesn't. | |
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Why is it unique? In principle it is no different from the federated US States, US territories, Ecuador, El Salvador, Zimbabwe, Timor-Leste, Micronesia, Palau, and the Marshall Islands using the US$ or the federated Swiss Kantons and Liechtenstein using the Swiss Franc?
The franc was reintroduced as Switzerland’s currency on 7 May 1850 with the “Federal Coinage Act”. Before then the cantons, municipalities & abbeys all had their own currencies.