Economic history of Spain the European community ever since. The country was a leading proponent of the EU single currency, the euro, long before it had been put into circulation. Together with the other founding euro members, it adopted the new physical currency on January 1, 2002. On that date Spain terminated its historic peseta currency and replaced it with the euro, which has become its national currency shared the rest of the Eurozone. This culminated a fast process of economic modernization even though the strength of the euro since its adoption has raised concerns regarding the fact that Spanish exports outside the European
World currency unit The WCU – World Currency Unit (WCU) is an indexed unit of account that stands for a unit of real global purchasing power. Since each unit by design represents a stable unit of purchasing power, the stipulated interest rate on WCU-denominated bonds represents a real interest rate. In principle, the common denomination of bonds by issuers from different parts of the world using the WCU, as well as the greater transparency of real interest rates, will produce more efficient capital markets, as savers and borrowers around the world converge in their understanding of what each basis point of interest means