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Prior to 2002, most European countries had their own independent currencies, such as the French Franc, Italian Lira, and Finnish Markka. This made trade and travel complicated, requiring exchanging money for each country with varying values and denominations. The idea of a shared common currency had been discussed for decades, leading to the introduction of the Euro for non-cash transactions on New Year's Day 1999, with the first banknotes and coins circulating in 2002.
