History of the euro succeeding the EMCF, under Maastricht. It was created as the forerunner to the European Central Bank. It met for the first time on 12 January under its first president, Alexandre Lamfalussy. After much disagreement, in December 1995 the name "euro" was adopted for the new currency (replacing the name "Ecu" used for the previous accounting currency), on the suggestion of then-German finance minister Theo Waigel. They also agreed on the date 1 January 1999 for its launch. On 17 June 1997 the European Council decided in Amsterdam to adopt the Stability and Growth Pact, designed to ensure budgetary discipline after
International status and usage of the euro merely limiting its highest value and not its lowest. The Bulgarian lev is pegged to the euro through a currency board. As part of ERM II, the currencies have a fluctuation band of ±15%. Denmark, however, has committed to a tighter fluctuation band of 2.25%. Convertible mark is the currency of Bosnia and Herzegovina and it was fixed to 1 German mark when it was introduced on the basis of the Dayton agreement; consequently after introduction of the euro, the Convertible mark uses the German-mark-to-euro rate at 1.95583 BAM per euro. Since 2005, stamps issued by the Sovereign Military Order