The most widely adopted legal tender in Europe is the euro (€). Introduced in 1999, the euro serves as the official currency for 19 of the 27 European Union member states, collectively known as the Eurozone. It was established to facilitate economic stability and integration among member countries and provides a unified currency for commerce, travel, and trade. The European Central Bank manages the euro's monetary policy, contributing to the currency's value and stability. The euro is recognized globally and is one of the most traded currencies worldwide.