History of the euro support the euro in 2001. Later in 2000, Denmark held a referendum on whether to abandon their opt-out from the euro. The referendum resulted in a decision to retain the krone, and also set back plans for a referendum in the UK as a result. The procedure used to fix the irrevocable conversion rate of 340.750 between the Greek drachma and the euro was different, since the euro by then was already two years old. While the conversion rates for the initial eleven currencies were determined only hours before the euro was introduced as a virtual currency, the conversion rate
History of the euro on 9 December 2011 by the European Council. The participants are the eurozone member states and all other EU members without the United Kingdom and the Czech Republic. The treaty entered into force on 1 January 2013 for the 16 states which completed ratification prior of this date and on 1 April 2014 entered into force for all 25 signatories. Despite speculation that the crisis in Greece could spread and that the euro might fail, some newer EU states from the 2004 enlargement joined the currency during the recession. Slovenia, Malta and Cyprus all acceded within the first two years