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CC 52 2009
2 euro coin
BU Main coin Bank issue
2 Euro BU
Belgium · 10 years of EMU
Mintage5,000,000
Issue date27 Jan 2009
Edge lettering2 ★ ★ × 6, alternating upright/inverted
Market price€7.90
Issue occasion
The common issue commemorates ten years of Economic and Monetary Union and the creation of the euro on 1 January 1999. The design by G. Stamatopoulos depicts a stylised human figure whose left arm merges into the euro symbol; below it are the artist’s initials ΓΣ. The design is complemented by the respective country name, the years 1999–2009, the national-language acronym for the EMU and the twelve stars of the European flag.
The design
The coin features a stylised human figure in the centre, whose left arm is extended by the euro symbol. The artist’s initials ΓΣ appear below the euro symbol. The name of the issuing country in the national language(s) appears along the upper edge of the design, while the inscription 1999-2009 and the acronym EMU, translated into the national language(s), appear along the lower edge.
The twelve stars of the European flag are depicted on the coin’s outer ring.
The twelve stars of the European flag are depicted on the coin’s outer ring.
Background on the topic
Economic and Monetary Union emerged gradually from European economic and monetary policy. One basis was the Treaty of Maastricht, which laid down rules for the transition to a common currency. These included requirements concerning price stability, public finances, exchange rates and long-term interest rates. At the same time, the institutional prerequisites were created, in particular the European System of Central Banks and the European Central Bank (ECB).
With the beginning of the third stage of Monetary Union, the exchange rates of the participating national currencies were irrevocably fixed. The euro initially served as a book, banking and accounting currency; banknotes and coins did not enter circulation until 2002. Until then, people continued to pay in everyday life with Deutsche Mark (D-Mark), francs or lire, for example. However, monetary policy for the euro area had already been transferred to the ECB. The national central banks remained in existence and have since participated in implementing this policy within the Eurosystem.
Initially, eleven EU Member States participated in the common currency. Greece joined before the introduction of cash. Further countries followed later; with the accession of Slovakia, the euro area comprised 16 states in the year the coin was issued. Not all members of the European Union introduced the euro. Monetary Union must therefore be distinguished from the broader political and economic framework of the EU.
The joint issue also made the participating states’ shared responsibility visible numismatically: despite different national inscriptions, all used the same basic design. Citizens and residents of the European Union were able to choose the design in an online vote. This established a procedure that directly involved the public in the design process.
The anniversary was suitable for a circulation coin because the euro is not merely cash, but also marks an institutional transformation: national monetary policies were replaced by a common monetary policy, while budgetary and economic policy remained largely the responsibility of the individual states. This tension remains part of the design of Economic and Monetary Union to this day.
With the beginning of the third stage of Monetary Union, the exchange rates of the participating national currencies were irrevocably fixed. The euro initially served as a book, banking and accounting currency; banknotes and coins did not enter circulation until 2002. Until then, people continued to pay in everyday life with Deutsche Mark (D-Mark), francs or lire, for example. However, monetary policy for the euro area had already been transferred to the ECB. The national central banks remained in existence and have since participated in implementing this policy within the Eurosystem.
Initially, eleven EU Member States participated in the common currency. Greece joined before the introduction of cash. Further countries followed later; with the accession of Slovakia, the euro area comprised 16 states in the year the coin was issued. Not all members of the European Union introduced the euro. Monetary Union must therefore be distinguished from the broader political and economic framework of the EU.
The joint issue also made the participating states’ shared responsibility visible numismatically: despite different national inscriptions, all used the same basic design. Citizens and residents of the European Union were able to choose the design in an online vote. This established a procedure that directly involved the public in the design process.
The anniversary was suitable for a circulation coin because the euro is not merely cash, but also marks an institutional transformation: national monetary policies were replaced by a common monetary policy, while budgetary and economic policy remained largely the responsibility of the individual states. This tension remains part of the design of Economic and Monetary Union to this day.
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