Euro was created as a common currency initially among the first twelve European nations and then expanded in to others. The efforts for the European common market currency started post 1950 as an effort by the marginalized European colonial powers who after World War II saw the rise of United States as a world financial power house and dollar as a medium of petro-buying. The efforts along with the collapse of gold backing of dollar in 1971 saw the first oil crisis speed up the need of an alterna...
