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Prior to 2002, most European countries had independent currencies, such as the French franc, Italian lira, and Finnish markka, complicating trade and travel. Travelers faced issues like exchanging money for each country, incurring exchange rate commissions and fees, and navigating vast disparities in currency values. For instance, the highest Italian lira denomination reached 500,000, while the French franc's was only 500, making it hard to understand spending. This complicated system highlighted the need for a shared currency, an idea debated for decades. The euro was first introduced for non-cash transactions on January 1, 1999, paving the way for its later implementation.