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[Music] the Euro started its journey when eleven countries fixed their exchange rates and monetary policy was passed to the European Central Bank three years later euro coins and notes came into circulation over the years eight more countries joined the club fierros second decade was largely overshadowed by the crisis five eurozone countries had to seek help amid increased speculations some might leave the euro emergency measures were introduced including the European Stability Mechanism and the need for a banking Union emerged in order to prevent a repeat of the crisis in the future when seven remaining EU states are required to join the euro area once they meet the convergence criteria [Music]