currency name	Euro
currency name in local	ευρώ евро
image 1	Common face of one euro coin.jpg
image title 1	€1 coin
iso code	EUR (num. 978)
using countries
unofficial users
Inflation rate	2.4%, May 2012
Inflation source date	ECB, June 2009
Inflation method	HICP
Pegged by
Sub-unit ratio 1	1/100
Sub-unit name 1	cent
Sub-unit inline note 1	actual usage varies depending on language
Symbol	€
Plural	See Euro linguistic issues
Plural subunit 1	See article
Used coins	1c, 2c, 5c, 10c, 20c, 50c, €1, €2
Rarely used coins	€5 , €10, €20, €100, €1,000
Coin article	euro coins
Used banknotes	€5, €10, €20, €50, €100, €200, €500
Banknote article	euro banknotes
Nickname	The single currency
Issuing authority	European Central Bank
Issuing authority website	www.ecb.europa.eu
Printer
Printer override with original text	Y
Printer website
Mint
Mint override with original text	Y
Mint website	}}

The euro () (sign: €; code: EUR) is the official currency of the eurozone, which consists of 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The currency is also used in a further five European countries and consequently used daily by some 332 million Europeans. Additionally, over 175 million people worldwide - including 150 million people in Africa - use currencies which are pegged to the euro.

The euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar. , with more than €890 billion in circulation, the euro has the highest combined value of banknotes and coins in circulation in the world, having surpassed the US dollar. Based on International Monetary Fund estimates of 2008 GDP and purchasing power parity among the various currencies, the eurozone is the second largest economy in the world.

The name ''euro'' was officially adopted on 16 December 1995. The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1. Euro coins and banknotes entered circulation on 1 January 2002. June 30, 2002 was the last day for changing old currency to Euro at any bank for the original twelve member states.

Since late 2009 the euro has been immersed in the European sovereign-debt crisis which has led to the creation of the European Financial Stability Facility as well as other reforms aimed at stabilizing the currency.

In May 2012, Euro fell below $1.24 as concerns raised over Spain's banking sector.Currently Euro is near a two year low.

Administration[link]

The euro is managed and administered by the Frankfurt-based European Central Bank (ECB) and the Eurosystem (composed of the central banks of the eurozone countries). As an independent central bank, the ECB has sole authority to set monetary policy. The Eurosystem participates in the printing, minting and distribution of notes and coins in all member states, and the operation of the eurozone payment systems.

The 1992 Maastricht Treaty obliges most EU member states to adopt the euro upon meeting certain monetary and budgetary convergence criteria, although not all states have done so. The United Kingdom and Denmark negotiated exemptions, while Sweden (which joined the EU in 1995, after the Maastricht Treaty was signed) turned down the euro in a 2003 referendum, and has circumvented the obligation to adopt the euro by not meeting the monetary and budgetary requirements. All nations that have joined the EU since 1993 have pledged to adopt the euro in due course.

Issuing modalities for banknotes[link]

Since 1 January 2002, the national central banks (NCBs) and the ECB have issued euro banknotes on a joint basis. Euro banknotes do not show which central bank issued them. Eurosystem NCBs are required to accept euro banknotes put into circulation by other Eurosystem members and these banknotes are not repatriated. The ECB issues 8% of the total value of banknotes issued by the Eurosystem. In practice, the ECB’s banknotes are put into circulation by the NCBs, thereby incurring matching liabilities vis-à-vis the ECB. These liabilities carry interest at the main refinancing rate of the ECB. The other 92% of the euro banknotes are issued by the NCBs in proportion to their respective shares in the capital key of the ECB, calculated using national share of European Union population and national share of European Union GDP, equally weighted.

Characteristics[link]

Coins and banknotes[link]

The euro is divided into 100 cents (sometimes referred to as euro cents, especially when distinguishing them from other currencies, and referred to as such on the common side of all cent coins). In Community legislative acts the plural forms of ''euro'' and ''cent'' are spelled without the ''s'', notwithstanding normal English usage. Otherwise, normal English plurals are recommended and used, with many local variations such as 'centime' in France.

All circulating coins have a ''common side'' showing the denomination or value, and a map in the background. Due to the linguistic plurality of Europe, the Latin alphabet version of euro is used (as opposed to the less common Greek or Cyrillic) and Arabic numerals (other text is used on national sides in national languages, but other text on the common side is avoided). For the denominations except the 1-, 2- and 5-cent coins, that map only showed the 15 member states which were members when the euro was introduced. Beginning in 2007 or 2008 (depending on the country) the old map is being replaced by a map of Europe also showing countries outside the Union like Norway. The 1-, 2- and 5-cent coins, however, keep their old design, showing a geographical map of Europe with the 15 member states of 2002 raised somewhat above the rest of the map. All common sides were designed by Luc Luycx. The coins also have a ''national side'' showing an image specifically chosen by the country that issued the coin. Euro coins from any member state may be freely used in any nation which has adopted the euro. The coins are issued in €2, €1, 50c, 20c, 10c, 5c, 2c, and 1c denominations. In order to avoid the use of the two smallest coins, some cash transactions are rounded to the nearest five cents in the Netherlands (by voluntary agreement) and in Finland (by law). This practice is discouraged by the Commission, as is the practice of certain shops to refuse to accept high value euro notes.

Commemorative coins with €2 face value have been issued with changes to the design of the national side of the coin. These include both commonly issued coins, such as the €2 commemorative coin for the fiftieth anniversary of the signing of the Treaty of Rome, and nationally issued coins, such as the coin to commemorate the 2004 Summer Olympics issued by Greece. These coins are legal tender throughout the eurozone. Collector's coins with various other denominations have been issued as well, but these are not intended for general circulation, and they are legal tender only in the member state that issued them.

The design for the euro banknotes has common designs on both sides. The design was created by the Austrian designer Robert Kalina. Notes are issued in €500, €200, €100, €50, €20, €10, €5. Each banknote has its own colour and is dedicated to an artistic period of European architecture. The front of the note features windows or gateways while the back has bridges, symbolizing links between countries and with the future. While the designs are supposed to be devoid of any identifiable characteristics, the initial designs by Robert Kalina were of specific bridges, including the Rialto and the Pont de Neuilly, and were subsequently rendered more generic; the final designs still bear very close similarities to their specific prototypes; thus they are not truly generic. The monuments looked similar enough to different national monuments to please everyone.

Payments clearing, electronic funds transfer[link]

Capital within the EU may be transferred in any amount from one country to another. All intra-EU transfers in euro are treated as domestic transactions and bear the corresponding domestic transfer costs. This includes all member states of the EU, even those outside the eurozone providing the transactions are carried out in euro. Credit/debit card charging and ATM withdrawals within the eurozone are also treated as domestic transactions, however paper-based payment orders, like cheques, have not been standardised so these are still domestic-based. The ECB has also set up a clearing system, TARGET, for large euro transactions.

Currency sign[link]

A special euro currency sign (€) was designed after a public survey had narrowed the original ten proposals down to two. The European Commission then chose the design created by the Belgian Alain Billiet. The official story of the design history of the euro sign is disputed by Arthur Eisenmenger, a former chief graphic designer for the EEC, who claims to have created it as a generic symbol of Europe.

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The European Commission also specified a euro logo with exact proportions and foreground/background colour tones. While the Commission intended the logo to be a prescribed glyph shape, font designers made it clear that they intended to design their own variants instead. Typewriters lacking the euro sign can create it by typing a capital 'C', backspacing and overstriking it with the equal ('=') sign. Placement of the currency sign relative to the numeric amount varies from nation to nation, but for texts in English the symbol (and the ISO-standard "EUR") should precede the amount.

Introduction of the euro[link]

The euro was established by the provisions in the 1992 Maastricht Treaty. To participate in the currency, member states are meant to meet strict criteria, such as a budget deficit of less than three per cent of their GDP, a debt ratio of less than sixty per cent of GDP (both of which were ultimately widely flouted after introduction), low inflation, and interest rates close to the EU average. In the Maastricht Treaty, the United Kingdom and Denmark were granted exemptions per their request from moving to the stage of monetary union which would result in the introduction of the euro.

Economists who helped create or contributed to the euro include Fred Arditti, Neil Dowling, Wim Duisenberg, Robert Mundell, Tommaso Padoa-Schioppa and Robert Tollison. (For macroeconomic theory, see below.)

The name "euro" was officially adopted in Madrid on 16 December 1995. Belgian Esperantist Germain Pirlot, a former teacher of French and history is credited with naming the new currency by sending a letter to then President of the European Commission, Jacques Santer, suggesting the name "euro" on 4 August 1995.

Due to differences in national conventions for rounding and significant digits, all conversion between the national currencies had to be carried out using the process of triangulation via the euro. The ''definitive'' values of one euro in terms of the exchange rates at which the currency entered the euro are shown on the right.

The rates were determined by the Council of the European Union, based on a recommendation from the European Commission based on the market rates on 31 December 1998. They were set so that one European Currency Unit (ECU) would equal one euro. The European Currency Unit was an accounting unit used by the EU, based on the currencies of the member states; it was not a currency in its own right. They could not be set earlier, because the ECU depended on the closing exchange rate of the non-euro currencies (principally the pound sterling) that day.

The procedure used to fix the irrevocable conversion rate 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, the conversion rate for the Greek drachma was fixed several months beforehand.

The currency was introduced in non-physical form (traveller's cheques, electronic transfers, banking, etc.) at midnight on 1 January 1999, when the national currencies of participating countries (the eurozone) ceased to exist independently. Their exchange rates were locked at fixed rates against each other. The euro thus became the successor to the European Currency Unit (ECU). The notes and coins for the old currencies, however, continued to be used as legal tender until new euro notes and coins were introduced on 1 January 2002.

The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, until 28 February 2002. The official date on which the national currencies ceased to be legal tender varied from member state to member state. The earliest date was in Germany, where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for two months more. Even after the old currencies ceased to be legal tender, they continued to be accepted by national central banks for periods ranging from several years to forever (the latter in Austria, Germany, Ireland and Spain). The earliest coins to become non-convertible were the Portuguese escudos, which ceased to have monetary value after 31 December 2002, although banknotes remain exchangeable until 2022.

Direct and indirect usage[link]

Direct usage[link]

The euro is the sole currency of 17 EU member states: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. These countries comprise the "eurozone", some 326 million people in total.

With all but two of the remaining EU members obliged to join, together with future members of the EU, the enlargement of the eurozone is set to continue. Outside the EU, the euro is also the sole currency of Montenegro and Kosovo and several European micro states (Andorra, Monaco, San Marino and the Vatican City) as well as in three overseas territories of EU states that are not themselves part of the EU (Mayotte, Saint Pierre and Miquelon and Akrotiri and Dhekelia). Together this direct usage of the euro outside the EU affects over 3 million people.

It is also gaining increasing international usage as a trading currency, in Cuba, North Korea and Syria. There are also various currencies pegged to the euro (see below). In 2009 Zimbabwe abandoned its local currency and used major currencies instead, including the euro and the United States dollar.

Use as reserve currency[link]

Since its introduction, the euro has been the second most widely held international reserve currency after the US dollar. The share of the euro as a reserve currency has increased from 18% in 1999 to 27% in 2008. Over this period the share of the US dollar fell from 71% to 64% and the Yen fell from 6.4% to 3.3%. The euro inherited and built on the status of the Deutsche Mark as the second most important reserve currency. The euro remains underweight as a reserve currency in advanced economies while overweight in emerging and developing economies: according to the International Monetary Fund the total of euro held as a reserve in the world at the end of 2008 was equal to $1.1 trillion or €850 billion, with a share of 22% of all currency reserves in advanced economies, but a total of 31% of all currency reserves in emerging and developing economies.

The possibility of the euro becoming the first international reserve currency is now widely debated among economists. Former Federal Reserve Chairman Alan Greenspan gave his opinion in September 2007 that it is "absolutely conceivable that the euro will replace the US dollar as reserve currency, or will be traded as an equally important reserve currency." In contrast to Greenspan's 2007 assessment the euro's increase in the share of the worldwide currency reserve basket has slowed considerably since 2007 and since the beginning of the worldwide credit crunch related recession and European sovereign-debt crisis.

Currencies pegged to the euro[link]

[[File:DOLLAR AND EURO IN THE WORLD.svg|thumb|300px|Worldwide use of the euro and the US dollar: Note that the Belarusian ruble is pegged to the Euro, Russian ruble and US$ in a currency basket.]]

Outside the eurozone, a total of 23 countries and territories that do not belong to the EU have currencies that are directly pegged to the euro including 14 countries in mainland Africa (CFA franc and Moroccan dirham), two African island countries (Comorian franc and Cape Verdean escudo), three French Pacific territories (CFP franc) and another Balkan country, Bosnia and Herzegovina (Bosnia and Herzegovina convertible mark). On 28 July 2009, São Tomé and Príncipe signed an agreement with Portugal which will eventually tie its currency to the euro.

With the exception of Bosnia (which pegged its currency against the Deutsche Mark) and Cape Verde (formerly pegged to the Portuguese escudo) all of these non-EU countries had a currency peg to the French Franc before pegging their currencies to the euro. Pegging a country's currency to a major currency is regarded as a safety measure, especially for currencies of areas with weak economies, as the euro is seen as a stable currency, prevents runaway inflation and encourages foreign investment due to its stability.

Within the EU several currencies have a peg to the euro, in most instances as a precondition to joining the eurozone. The Bulgarian lev was formerly pegged to the Deutsche Mark, other EU member states have a direct peg due to ERM II: the Danish krone, the Lithuanian litas and the Latvian lats.

In total, over 150 million people in Africa use a currency pegged to the euro, 25 million people outside the eurozone in Europe and another 500,000 people on Pacific islands.

Economics[link]

Optimal currency area[link]

In economics, an optimum currency area (or region) (OCA, or OCR) is a geographical region in which it would maximize economic efficiency to have the entire region share a single currency. There are two models, both proposed by Robert Mundell: the stationary expectations model and the international risk sharing model. Mundell himself advocates the international risk sharing model and thus concludes in favour of the euro. However, even before the creation of the single currency, there were concerns over diverging economies. Before the Late-2000s recession the chances of a state leaving the euro, or the chances that the whole zone would collapse, were considered extremely slim. However the Greek government-debt crisis led to former British foreign secretary Jack Straw claiming the Eurozone could not last in its current form. Part of the problem seems to be the rules that were created when the Euro was set up. John Lanchester, writing for ''The New Yorker'' explains it thus:

The guiding principle of the currency, which opened for business in 1999, were supposed to be a set of rules to limit a country's annual deficit to three per cent of gross domestic product, and the total accumulated debt to sixty per cent of G.D.P. It was a nice idea, but by 2004 the two biggest economies in the euro zone, Germany and France, had broken the rules for three years in a row.

Transaction costs and risks[link]

The most obvious benefit of adopting a single currency is to remove the cost of exchanging currency, theoretically allowing businesses and individuals to consummate previously unprofitable trades. For consumers, banks in the eurozone must charge the same for intra-member cross-border transactions as purely domestic transactions for electronic payments (e.g., credit cards, debit cards and cash machine withdrawals).

The absence of distinct currencies also removes exchange rate risks. The risk of unanticipated exchange rate movement has always added an additional risk or uncertainty for companies or individuals that invest or trade outside their own currency zones. Companies that hedge against this risk will no longer need to shoulder this additional cost. This is particularly important for countries whose currencies had traditionally fluctuated a great deal, particularly the Mediterranean nations.

Financial markets on the continent are expected to be far more liquid and flexible than they were in the past. The reduction in cross-border transaction costs will allow larger banking firms to provide a wider array of banking services that can compete across and beyond the eurozone.

Price parity[link]

Another effect of the common European currency is that differences in prices – in particular in price levels – should decrease because of the 'law of one price'. Differences in prices can trigger arbitrage, i.e. speculative trade in a commodity across borders purely to exploit the price differential. Therefore, prices on commonly traded goods are likely to converge, causing inflation in some regions and deflation in others during the transition. Some evidence of this has been observed in specific eurozone markets.

Macroeconomic stability[link]

Low levels of inflation are the hallmark of stable and modern economies. Because a high level of inflation acts as a tax (seigniorage) and theoretically discourages investment, it is generally viewed as undesirable. In spite of the downside, many countries have been unable or unwilling to deal with serious inflationary pressures. Some countries have successfully contained them by establishing largely independent central banks. One such bank was the Bundesbank in Germany; as the European Central Bank is modelled on the Bundesbank, it is independent of the pressures of national governments and has a mandate to keep inflation low. Member countries that join the euro hope to enjoy the macroeconomic stability associated with low levels of inflation. The ECB (unlike the Federal Reserve in the United States of America) does not have a second objective to sustain growth and employment.

Many national and corporate bonds denominated in euro are significantly more liquid and have lower interest rates than was historically the case when denominated in national currencies. While increased liquidity may lower the nominal interest rate on the bond, denominating the bond in a currency with low levels of inflation arguably plays a much larger role. A credible commitment to low levels of inflation and a stable debt reduces the risk that the value of the debt will be eroded by higher levels of inflation or default in the future, allowing debt to be issued at a lower nominal interest rate.

Trade[link]

A 2009 consensus from the studies of the introduction of the euro is that it has increased trade within the eurozone by 5% to 10%, although one study suggested an increase of only 3% while another estimated 9 to 14%. However, a meta-analysis of all available studies suggests that the prevalence of positive estimates is caused by publication bias and that the underlying effect may be negligible.

Investment[link]

Physical investment seems to have increased by 5% in the eurozone due to the introduction. Regarding foreign direct investment, a study found that the intra-eurozone FDI stocks have increased by about 20% during the first four years of the EMU. Concerning the effect on corporate investment, there is evidence that the introduction of the euro has resulted in an increase in investment rates and that it has made it easier for firms to access financing in Europe. The euro has most specifically stimulated investment in companies that come from countries that previously had weak currencies. A study found that the introduction of the euro accounts for 22% of the investment rate after 1998 in countries that previously had a weak currency.

Inflation[link]

The introduction of the euro has led to extensive discussion about its possible effect on inflation. In the short term, there was a widespread impression in the population of the eurozone that the introduction of the euro had led to an increase in prices, but this impression was not confirmed by general indices of inflation and other studies. A study of this paradox found that this was due to an asymmetric effect of the introduction of the euro on prices: while it had no effect on most goods, it had an effect on cheap goods which have seen their price round up after the introduction of the euro. The study found that consumers based their beliefs on inflation of those cheap goods which are frequently purchased. It has also been suggested that the jump in small prices may be because prior to the introduction, retailers made fewer upward adjustments and waited for the introduction of the euro to do so.

Exchange rate risk[link]

One of the advantages of the adoption of a common currency is the reduction of the risk associated with changes in currency exchange rates. It has been found that the introduction of the euro created "significant reductions in market risk exposures for nonfinancial firms both in and outside of Europe" These reductions in market risk "were concentrated in firms domiciled in the eurozone and in non-Euro firms with a high fraction of foreign sales or assets in Europe".

Financial integration[link]

The introduction of the euro seems to have had a strong effect on European financial integration. According to a study on this question, it has "significantly reshaped the European financial system, especially with respect to the securities markets [...] However, the real and policy barriers to integration in the retail and corporate banking sectors remain significant, even if the wholesale end of banking has been largely integrated." Specifically, the euro has significantly decreased the cost of trade in bonds, equity, and banking assets within the eurozone. On a global level, there is evidence that the introduction of the euro has led to an integration in terms of investment in bond portfolios, with eurozone countries lending and borrowing more between each other than with other countries.

Effect on interest rates[link]

The introduction of the euro has decreased the interest rates of most members countries, in particular those with a weak currency. As a consequence the market value of firms from countries which previously had a weak currency has very significantly increased. The countries whose interest rates fell most as a result of the euro are Greece, Ireland, Portugal, Spain, and Italy. The effect of such low interest rates made it easier for banks within the countries in which interest rates fell and the countries themselves to borrow significant amounts (above the 3% of GDP budget deficit imposed on the eurozone initially) and increase their public deficit and levels of privately held consumer debt. Following the Late-2000s financial crisis, governments in these countries found it necessary to bail out or nationalise their privately held banks in order to prevent systemic failure of the banking system. This further increased the already high levels of public debt to a level the markets began to consider unsustainable, via increasing government bond interest rates, producing the ongoing European sovereign-debt crisis.

Price convergence[link]

The evidence on the convergence of prices in the eurozone with the introduction of the euro is mixed. Several studies failed to find any evidence of convergence following the introduction of the euro after a phase of convergence in the early 1990s. Other studies have found evidence of price convergence, in particular for cars. A possible reason for the divergence between the different studies is that the processes of convergence may not have been linear, slowing down substantially between 2000 and 2003, and resurfacing after 2003 as suggested by a recent study (2009).

Tourism[link]

A study suggests that the introduction of the euro has had a positive effect on the amount of tourist travel within the EMU, with an increase of 6.5%.

European sovereign debt crisis[link]

Following the US financial crisis in 2008, fears of a sovereign debt crisis developed in 2009 among fiscally conservative investors concerning some European states, with the situation becoming particularly tense in early 2010. This included eurozone members Greece, Ireland and Portugal and also some EU countries outside the area. Iceland, the country which experienced the largest crisis in 2008 when its entire international banking system collapsed, has emerged less affected by the sovereign-debt crisis as the government was unable to bail the banks out. In the EU, especially in countries where sovereign debts have increased sharply due to bank bailouts, a crisis of confidence has emerged with the widening of bond yield spreads and risk insurance on credit default swaps between these countries and other EU members, most importantly Germany. To be included in the euro zone, the countries had to fulfil certain convergence criteria, but the meaningfulness of such criteria were diminished by the fact they have not been applied to different countries with the same strictness.

According to the Economist Intelligence Unit " if the [euro area] is treated as a single entity, its [economic and fiscal] position looks no worse and in some respects, rather better than that of the US or the UK" and the budget deficit for the euro area as a whole is much lower and the euro area's government debt/GDP ratio of 86% in 2010 was about the same level as that of the US. "Moreover," they write, "private-sector indebtedness across the euro area as a whole is markedly lower than in the highly leveraged Anglo-Saxon economies." The authors conclude that the crisis "is as much political as economic" and the result of the fact that the euro area lacks the support of "institutional paraphernalia (and mutual bonds of solidarity) of a state".

The crisis continues into the present, most recently with S&P; downgrading 9 euro-area countries, including France, then downgrading the entire EFSF fund.

Exchange rates[link]

Flexible exchange rates[link]

The ECB targets interest rates rather than exchange rates and in general does not intervene on the foreign exchange rate markets, because of the implications of the Mundell–Fleming model which implies a central bank cannot maintain interest rate and exchange rate targets simultaneously, unless there are capital controls, because increasing the money supply results in a depreciation of the currency. In the years following the Single European Act, the EU has liberalised its capital markets, and as the ECB has chosen monetary autonomy, the exchange-rate regime of the euro is flexible, or floating.

Against other major currencies[link]

The euro is one of the major reserve currencies together with the US dollar, Japanese yen, Pound sterling and Swiss franc. After its introduction on 4 January 1999 its exchange rate against the other major currencies fell reaching its lowest exchange rates in 2000 (25 Oct vs the US Dollar, 26 Oct vs Japanese Yen, 3 May vs Pound Sterling). Afterwards it regained and its exchange rate reached its historical highest point in 2008 (15 July vs US Dollar, 23 July vs Japanese Yen, 29 Dec vs Pound Sterling). With the advent of the global financial crisis the euro initially fell, only to regain later. Despite pressure due to the European sovereign-debt crisis the euro remained stable. In November 2011 the euro's exchange rate index - measured against currencies of the bloc's major trading partners - was trading almost two percent higher on the year, approximately at the same level as it was before the crisis kicked off in 2007.

Current and historical exchange rates against 29 other currencies (European Central Bank)

Current dollar/euro exchange rates (BBC)

Historical exchange rate from 1971 until now

Linguistic issues[link]

The formal titles of the currency are ''euro'' for the major unit and ''cent'' for the minor (one hundredth) unit and for official use in most eurozone languages; according to the ECB, all languages should use the same spelling for the nominative singular. This may contradict normal rules for word formation in some languages; e.g., those where there is no ''eu'' diphthong. Bulgaria has negotiated an exception; ''euro'' in the Cyrillic alphabet is spelled as eвро (''evro'') and not eуро (''euro'') in all official documents. Official practice for English-language EU legislation is to use the words euro and cent as both singular and plural, although the European Commission's Directorate-General for Translation states that the plural forms ''euros'' and ''cents'' should be used in English.

See also[link]

Currency union

Notes[link]

References[link]

Further reading[link]

External links[link]

;Official websites

The euro – Europa

European Central Bank

*Security features

*Exchange rates

;Other

The Euro Information Site – ibiblio

The symbolic power of the euro – Bundeszentrale für politische Bildung

Historical Documentation of EMU and the euro

Euro in crisis dossier by Radio France Internationale in English June 2010

Euro against other major currencies from 1971

The Euro and the US from the Dean Peter Krogh Foreign Affairs Digital Archives

Category:1999 in economics Category:1999 introductions Category:2002 introductions Category:Charlemagne Prize recipients Category:Eurozone fiscal matters Category:Economy of the European Union Category:Monetary unions Category:Symbols of the European Union Category:Warrants issued in Hong Kong Stock Exchange

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Name	Rambo Amadeus
Background	solo_singer
Birth name	Antonije Pušić
Birth date	June 14, 1963
Birth place	Kotor, Montenegro, SFR Yugoslavia
Origin	Germany; Montenegro
Instrument	Electric guitar
Genre	Jazz, Nu jazz, Rock
Occupation	Singer-songwriter, Guitarist
Years active	1988-present
Website	www.ramboamadeus.com }}

Rambo Amadeus (, born June 14, 1963) is the stage name of the Belgrade-based Montenegrin singer-songwriter Antonije Pušić, who is a self-titled "musician, poet, and media manipulator". He is a popular phenomenon on the music scenes of the former Yugoslavia.

His songs combine satirical lyrics on the nature of common people and silliness of local politics. He uses a mixture of musical styles including jazz and Rock (converging towards drum and bass lately), and self-conscious ironic wit (for example, his most popular alias is "Rambo Amadeus Svjetski Kilo Car"— "Rambo Amadeus the World Kilo Emperor",formerly "Rambo Amadeus Svjetski Mega Car"— "Rambo Amadeus the World Mega Emperor" (RASMC) (changed in 2012 because of his belief in the importance of modesty in an environmentally conscious society). His stage name itself is made from John Rambo and Wolfgang Amadeus Mozart. Known also as a "charming king of jovial pop", his concerts are never mere repetitions of recorded songs, but a mixture of musical improvisation and humor exploiting all aspects of human nature in a crude manner. Some fans compare his style and career path with those of Frank Zappa or Captain Beefheart.

Rambo Amadeus was the representative of Montenegro in the Eurovision Song Contest 2012 in Baku, Azerbaijan, with the song Euro Neuro.

Early life[link]

Antonije Pušić was born in Kotor, SR Montenegro, SFR Yugoslavia. He graduated in tourism studies from the University of Belgrade's Faculty of Mathematics and Natural Sciences. He also completed six grades of elementary music school for piano before dropping out.

Before taking up music as a career choice, Rambo was an accomplished competitive sailor. Between 1972 and 1984, he represented Yugoslavia in numerous international regattas. During this period he was champion of Montenegro several times, an 8-time South-Adriatic champion, national title winner in the junior category, as well as International Đerdap Cup winner in 1980. He still occasionally attends and participates in some recreational sailing regattas in the Gulf of Kotor.

He began to sing and compose during first year of high school (gymnasium) which soon led to involvement with various local bands in Herceg Novi and Titograd. One of his first performances saw him play the mandolin in an orchestra that entertained guests of Herceg Novi's Plaza hotel.

In 1985, he moved to Belgrade in pursuit of higher education. Parallel to his university studies, he also played with various amateur bands and musicians.

Musical career[link]

1980s[link]

In 1988 he dropped onto the music scene right out of nowhere with a debut album ''O tugo jesenja''. His sound was a seemingly coarse blend of folkish ululations and even opera, further mixed in with humorous lyrics and classic guitar riffs. Since very few people had any prior knowledge of him, Rambo delighted in creating confusion by introducing himself as Nagib Fazlić Nagon, mine shaft operator who saved up enough money to record an album. He referred to his own musical style as turbo folk, long before the term would obtain grave social connotations and come to symbolize moral and cultural decline throughout the Balkans during the wars of the 1990s.

In reality, it was actually thanks to producer Saša Habić that Rambo got the opportunity to sign for the state television's record company PGP RTB (Rambo later wrote an anecdotal tribute to that event, in the hit song "Balkan boy"). Habić also played the synthesizer on this album, from which a track named "Vanzemaljac" (Extraterrestrial) continues to be very popular to this day. The record's sales weren't particularly high, but Rambo certainly created enough of a buzz to be able to remain active on the scene.

Next album ''Hoćemo gusle'' came out in 1989 and gave a small taste of much of Rambo's future musical direction - overt political activism. The track "Amerika i Engleska (biće zemlja proleterska)" was originally supposed to be named "Kataklizma komunizma" (Cataclysm of Communism) but powers that be wouldn't allow it. The album title pokes fun at a bizarre event from the 1989 protests in Montenegro that eventually grew into the anti-bureaucratic revolution that swept Milo Đukanović, Momir Bulatović, and Svetozar Marović into power. Protesters were heard chanting "Hoćemo Ruse" ("We want the Russians"), but when the authorities and state-controlled media criticized them for it, many quickly began backpedaling by claiming they actually chanted "Hoćemo gusle" ("We want gusle").

Other songs like "Glupi hit" and afore mentioned "Balkan boy" would also become considerable hits and Rambo even received solid critical acclaim for chances he took in "Samit u buregdžinici Laibach". On that track, he created a catchy hybrid by mixing pretentiously heavy sound of Laibach with poetry of Laza Kostić and Desanka Maksimović, as well as with folk ''kafana'' standard "Čaše lomim" and his own turbo-poetry. Album sleeve lists the lyrics of a song that wasn't actually recorded and explains that "it was dropped at the last moment because there was no room for it" but gives assurances it would appear on the next album. Since the song in question, named "Pegepe ertebe", was all about taking shots at Rambo's label PGP RTB it isn't surprising that it didn't appear on the next, or any subsequent album for that matter.

1990s[link]

As the 1990s were beginning, Rambo was growing into an established performer. His third album ''M-91'' came out towards the end of 1991 at a time when the conflict across former Yugoslavia was already in full swing. For obvious reasons, the least of which was the album's subtitle - ''Psychological Propaganda Set'', many songs contained heavy lyrics and a dark, militaristic atmosphere. In your face profanity and descriptive cursing was also par for the course, making this the first major music release in former Yugoslavia to take such narrative liberties. Tracks like "Smrt popa Mila Jovovića" (30-year old poem by Božo Đuranović), "Jemo voli jem" (incorporating samples from Yugoslav aviators' anthem "Hej vojnici vazduhoplovci" as well as Šemsa Suljaković's "Izgubila sve sam bitke"), "Inspektor Nagib" and "Zdravo damo" became instant hits.

The discrepancy between what's listed on the cover and what is actually recorded is there again as sleeve announces the track called "KPGS" which would, this time for real, appear on the next live album, but does not list "Halid invalid Hari" and "Prijatelju, prijatelju" which were included and became big hits. Many consider the two tracks to be classic Rambo: observant, opinionated, direct and profane. The latter of the two originally included excerpts from Slobodan Milošević and Franjo Tuđman speeches, but the record company censors took them out.

This album further solidified Rambo's presence on the scene as he started playing bigger arenas like Sava centar. Due to outspoken and entertaining nature he would often get invited on various TV and radio outlets across the country.

Trying to take the new situation in stride, he hit the road, becoming one of the first performers from FR Yugoslavia to regularly start touring Macedonia and Slovenia in the years following those states' declarations of independence.

After live album ''KPGS'' (taped on December 29, 1992 in Skopje) that included new studio track "Karamba karambita" followed by a greatest hits compilation ''Izabrana dela 1989–1994'', Rambo recorded peculiar new material during July 1995 in Paris with Goran Vejvoda. Released the following year as ''Mikroorganizmi'', it featured inaccessible, moody sound garnered with terse, experimental lyrics marking a sizable departure from his usual antics.

He simultaneously released ''Muzika za decu'', personal musical take on Ljubivoje Ršumović's poetry featuring two bonus new tracks - "Sex" and "ABVGD".

Old-school Rambo fans did not have to wait long for a return to earlier style. Towards the end of 1996, on ''Titanik'' he delivered a new batch of traditional fare like "Šakom u glavu", "Sado-mazo", "Zreo za penziju" and "Otiš'o je svak ko valja" (dedicated to Toma Zdravković and members of Šarlo Akrobata). Seasoned musicians like Ognjan Radivojević (later to perform with Goran Bregović and Zdravko Čolić), Goran Ljuboja, Dragan Markovski and Marija Mihajlović took part in recording sessions for this album.

Extensive tour followed and it again included Slovenia (live album was recorded over two Ljubljana concerts in April 1997 and later released as ''R.A. u KUD France Prešern''), as well as Bosnia where Rambo appeared as a guest at Sejo Sexon's Zabranjeno pušenje gig in Sarajevo. That appearance in December 1997 was the first post-war visit by a Serbian-Montenegrin performer to the Muslim part of Bosnia.

On June 9, 1998, Rambo played Belgrade's Dom sindikata hall in what he announced to be the farewell performance before retirement. Even if many doubted his sincerity, the concert was a memorable one. Soon, Rambo packed his bags and left for the Netherlands, though not before squeezing in two more shows in Bosnia. In the Netherlands, he worked a series of menial jobs including construction, before deciding to return to Belgrade after only 4 months abroad. Back home, not surprisingly, he also returned to music and continued to break down inter-ethnic barriers: on December 10, 1998, he and Margita Stefanović played a show in Pula at the local cinema with KUD Idijoti, which was a first opportunity since the war for a Croatian audience to see performers from Serbia and Montenegro.

2000s[link]

Throughout the year 2000, Rambo worked on what would eventually become the ''Don't Happy, Be Worry'' album. This album included the song ''Laganese'' in which sampled the Norwegian journalist Åsne Seierstad singing the Norwegian Folk song ''Eg rodde meg ut på seiegrunnen'' and swearing. By this time, sampling and local pop-cultural references became two more staples of his sound, and this material, too, was heavy on both. Produced by Iztok Turk, it featured tracks like "Čoban je upravo napustio zgradu" (loose cover of Neda Ukraden's "Zora je svanula"), "Moj skutere" that borrows from Oliver Dragojević's "Moj galebe", and "Izađite molim" with sprinkled in dialogues from Goran Marković's 1975 movie ''Variola vera''.

In 2004, Rambo released his third live album ''Bolje jedno vruće pivo nego četri ladna'', which was followed by the studio album ''Oprem dobro'' in mid-2005.

He made a song "Dikh tu kava" in collaboration with ethno-jazz fusion band Kal, and in 2007 he appeared on their album as a featured artist in the song "Komedija" ("Comedy").

He gave us another extraordinary performance called "Mixing of alternative rocks" in autumn 2007, when he "played" on 12 concrete mixers in front of the audience, during The Alternative Rock Festival in SKC, Belgrade.

For the purpose of the New Year's show on RTV, he appeared in the song "Rakija" followed by Zorule, the traditional folk orchestra. This song was used later as one of the tracks for "Vratiće se rode" TV serial. In February 2008, Rambo Amadeus performed as a guest star of The RTS Big Band jazz orchestra, for their 60th Anniversary.

''Hipishizik Metafizik'' is his latest studio album, released for PGP RTS in July 2008.

2010s[link]

Rambo Amadeus was internally selected by the Montenegrin national broadcaster RTCG to represent Montenegro in the Eurovision Song Contest 2012 in Baku, Azerbaijan. His winning song Euro Neuro gained controversy for its video. He ultimately failed to make the Eurovision final.

Other endeavours[link]

In addition to a prolific solo recording career, Rambo frequently engaged in different, often bizarre side projects.

In 1989 in Sarajevo, for a short while, he hosted an erotic quiz show with actress Jasna Beri named ''Turbo-lilihip'', which aired on a local TV station SA3.

He wrote music for different theatre plays such as '''', '''', as well as '''' for which he was awarded Sterija prize in 1994. Rambo also wrote lyrics for commercial folk stars like Lepa Brena and Vesna Zmijanac, as well as the entire score for 1994 film '''', which was a star vehicle for another folk performer Dragana Mirković.

That same year he wrote a musical base for 1927 silent movie ''Metropolis'' by Fritz Lang. At a movie screening at Sava Center, Rambo's music was played by Belgrade Philharmonic. The material was later recorded by Rambo himself along with Miroslav Savić and Heavily Manipulated Orchestra, and released as ''Metropolis B (Tour de Force)''.

A year later, he arranged a cadenza within "A concerto for piano and orchestra in C-minor" by W.A. Mozart. In 1995, candenza was performed by Ivan Tasovac, while the entire concert was conducted by Oskar Danon at Belgrade's Kolarac concert hall.

Since early 2005 Rambo has been writing a column '''' (''Mega-Imperial Thoughts'') for the daily tabloid ''Blic''. He was a guest on Studio B's Agape program together with Serbian Orthodox priest Porfirije where they talked about the meaning of life, finding your self, slowing down, drug abuse and rehabilitation.

Discography[link]

Studio albums[link]

1988 - ''O tugo jesenja'' (''Oh Autumn Sorrow''), PGP RTB

1989 - ''Hoćemo gusle'' (''We Want Gusle''), PGP RTB

1991 - ''Psihološko propagandni komplet M-91'' (''Psychological Propaganda Set M-91''), PGP RTB

1995 - ''Muzika za decu'' (''Music for Children''), B92

1996 - ''Mikroorganizmi'' (''Microorganisms''), Komuna

1997 - ''Titanik'', Komuna

1998 - ''Metropolis B (tour-de-force)'', B92

2000 - ''Don't happy, be worry'', Metropolis (Released as ''Čobane vrati se'' (''Shepherd, Come Back'') in Slovenia and Croatia by Dallas Records)

2005 - ''Oprem Dobro'', B92

2008 - ''Hipishizik Metafizik'', PGP RTS

EPs[link]

2008 - ''Yes No'', Hip Son Music/Tunecore

Live albums[link]

1993 - ''Kurac, Pička, Govno, Sisa'' (''Dick, Pussy, Shit, Tit''), Gema & DE

1998 - ''R.A. u KUD France Prešern'', Vinilmania

2004 - ''Bolje jedno vruće pivo nego četri ladna'' (''One Hot Beer is Better than Four Cold Ones''), Metropolis

Compilations[link]

1994 - ''Izabrana dela'' (''Selected Works''), PGP RTS

1998 - ''Zbrana dela 1'' (''Selected Works 1''), Vinilmania

1998 - ''Zbrana dela 2'' (''Selected Works 2''), Vinilmania

References[link]

Janjatovic, Petar. ''Ilustrovana ex-Yu rock enciklopedija 1960–2000'' (dopunjeno izdanje). Novi Sad: Prometej, 2001.

External links[link]

Official website

Official MySpace Page

Official YouTube Page

Official Facebook Page

Official Twitter Page

Category:1963 births Category:Living people Category:Montenegrin male singers Category:Montenegrin singer-songwriters Category:People from Kotor Category:Yugoslav musicians Category:University of Belgrade alumni Category:Eurovision Song Contest entrants of 2012 Category:Montenegrin Eurovision Song Contest entrants

be:Рамба Амадэус bs:Rambo Amadeus de:Rambo Amadeus dsb:Rambo Amadeus es:Rambo Amadeus eo:Rambo Amadeus fr:Rambo Amadeus hr:Rambo Amadeus it:Rambo Amadeus ky:Рамбо Амадеус hu:Antonije Pušić nl:Rambo Amadeus ja:ランボー・アマデウス no:Rambo Amadeus nn:Rambo Amadeus pt:Rambo Amadeus ru:Рамбо Амадеус sr:Рамбо Амадеус sv:Rambo Amadeus tr:Rambo Amadeus uk:Рамбо Амадеус

Name	Nigel Farage
Honorific-suffix	MEP
Office	Europe of Freedom and Democracy President
Term start	1 July 2009 (de facto)
Predecessor	(post established)
Office	Leader of the United Kingdom Independence Party
Term start	5 November 2010
Predecessor	Jeffrey Titford
Term start1	27 September 2006
Term end1	27 November 2009
Predecessor1	Roger Knapman
Successor1	Lord Pearson of Rannoch
Office2	Member of the European Parliament for South East England
Term start2	15 July 1999
Birth date	April 03, 1964
Birth place	Kent, England, United Kingdom
Nationality	British
Party	UK Independence Party
Spouse	Gráinne Hayes (1988-1997, divorced)Kirsten Mehr (1999-present)
Children	4
Alma mater	Dulwich College
Religion	Church of England
Website	Nigel Farage MEP
Footnotes	}}

Nigel Paul Farage (, ; born 3 April 1964, Farnborough, Kent), is a British politician and is the Leader of the UK Independence Party (UKIP), a position he also held from September 2006 to November 2009. He is a Member of the European Parliament for South East England and co-chairs the Eurosceptic Europe of Freedom and Democracy group.

Farage is a founding member of the UKIP, having left the Conservative Party in 1992 after they signed the Maastricht Treaty. Having unsuccessfully campaigned in European and Westminster parliamentary elections for UKIP since 1994, he gained a seat as an MEP for South East England in the 1999 European Parliament Election — the first year the regional list system was used — and was re-elected in 2004 and 2009. Farage describes himself as a libertarian and rejects the notion that he is a conservative.

In September 2006, Farage became the UKIP Leader and led the party through the 2009 European Parliament Election in which it received the second highest share of the popular vote, defeating Labour and the Liberal Democrats with over two million votes. However he stepped down in November 2009 to concentrate on contesting the Speaker John Bercow's seat of Buckingham in the 2010 general election.

At the 2010 General Election, Farage failed to unseat John Bercow and received only the third highest share of the vote in the constituency. Shortly after the polls opened on 6 May 2010, Nigel Farage was injured in an aircraft crash in Northamptonshire. The two-seated PZL-104 Wilga 35A had been towing a pro-UKIP banner when it flipped over and crashed shortly after takeoff. Both Farage and the pilot were hospitalised with non-life-threatening injuries.

In November 2010, Farage successfully stood in the 2010 UKIP leadership contest, following the resignation of its leader, Lord Pearson of Rannoch. Farage was also ranked 41st (out of 100) in ''The Daily Telegraph'''s Top 100 most influential right-wingers poll in October 2009, citing his media savvy and his success with UKIP in the European Elections. Farage was ranked 58th in the 2010 list compiled by Iain Dale and Brian Brivati for the Daily Telegraph.

Background[link]

Farage was educated at Dulwich College before joining a commodity brokerage firm in London. He ran his own brokerage business from the early 1990s until 2002. In his early 20s Farage was diagnosed with testicular cancer but made a full recovery.

Farage has been married twice. He married Gráinne Hayes in 1988, with whom he had two children: Samuel (1989) and Thomas (1991). In 1999 he married Kirsten Mehr, a German national, by whom he has two more children, Victoria (born 2000) and Isabelle (born 2005).

Farage has also penned his own memoirs, entitled "Fighting Bull." It outlines the founding of UKIP and his personal and political life so far.

Political career[link]

Conservative Party[link]

Active in the Conservative Party from his school days, Farage left the party in 1992 when John Major's government signed the Treaty on European Union at Maastricht.

UKIP and the European Parliament[link]

Farage became a founding member of UKIP in 1993.

He was elected to the European Parliament in 1999 and re-elected in 2004 and 2009. Farage is presently the leader of the thirteen-member UKIP contingent in the European Parliament, and co-leader of the multinational eurosceptic group, Europe of Freedom and Democracy.

UKIP party leadership[link]

On 12 September 2006, Farage was elected leader of UKIP with 45% of the vote, 20% ahead of his nearest rival. He pledged to bring discipline to the party and to maximise UKIP's representation in local, parliamentary and other elections. In a PM programme interview on BBC Radio 4 that day he pledged to end the public perception of UKIP as a single-issue party and to work with allied politicians in the Better Off Out campaign, committing himself not to stand against the MPs who have signed up to that campaign (ten in all at this moment).

At his maiden speech to the UKIP conference on 8 October 2006, he told delegates that the party was "at the centre-ground of British public opinion" and the "real voice of opposition". Farage said: "We've got three social democratic parties in Britain — Labour, Lib Dem and Conservative are virtually indistinguishable from each other on nearly all the main issues" and "you can't put a cigarette paper between them and that is why there are nine million people who don't vote now in general elections that did back in 1992."

At 10pm on 19 October 2006, Farage took part in a three-hour live interview and phone-in with James Whale on national radio station talkSPORT. Four days later, Whale announced on his show his intention to stand as UKIP's candidate in the 2008 London Mayoral Election. Farage said that Whale "not only has guts, but an understanding of what real people think". However Whale later decided not to stand and UKIP was represented by Gerard Batten. He stood again for UKIP leadership in 2010 after his successor Lord Pearson stood down. On the 5th November 2010 it was announced Farage had won the leadership contest.

Westminster elections[link]

Farage had unsuccessfully contested UK parliamentary elections for UKIP five times, both before and after his election as an MEP in 1999. Under the 2002 European Union decision to forbid MEPs from holding a dual mandate, if he was ever elected to the House of Commons, he would have to resign his seat as an MEP.

When he contested the Bromley & Chislehurst constituency in a May 2006 by-election, organised after the sitting MP representing it, eurosceptic Conservative Eric Forth, died, Farage came third, winning 8% of the vote, beating the Labour Party candidate. This was the second-best by-election result recorded by UKIP out of 25 results, and the first time since the Liverpool Walton by-election in 1991 that a party in government had been pushed into fourth place in a parliamentary by-election on mainland Britain.

2010 UK General election[link]

On 4 September 2009 Farage resigned as leader of UKIP to concentrate on his campaign to become Member of Parliament for Buckingham at Westminster in the 2010 general election. He later told Times journalist Camilla Long that UKIP internal fights took up too much time.

He stood against Buckingham MP John Bercow, the newly elected Speaker of the House of Commons, despite a convention that the speaker, as a political neutral, is not normally challenged in his or her bid for re-election by any of the major parties.

On 6 May, on the morning the polls opened in the election, just before eight o'clock Farage was involved in a light aircraft crash, suffering injuries described as non-life-threatening. A spokesperson told the BBC that "it was unlikely Mr Farage would be discharged from hospital today [6 May] Although his injuries were originally described as minor, his sternum and ribs were broken, and his lung punctured. The Air Accident Investigation Branch (AAIB) report said that the aeroplane was towing a banner, which caught in the tailplane, forcing the nose down.

Farage came third with 8,401 votes. Bercow was re-elected, and in second place with 10,331 votes was John Stevens, a former Conservative MEP who campaigned as an independent accompanied by "Flipper the Dolphin" (a reference to MPs flipping second homes).

On 1 December 2010, the pilot of the aircraft involved in the accident was charged with threatening to kill Farage. He was also charged with threatening to kill an AAIB official involved in the investigation into the accident. In April 2011, Justin Adams was found guilty of making death threats. The judge said the defendant was "clearly extremely disturbed" at the time the offences happened adding "He is a man who does need help. If I can find a way of giving him help I will."

Alternative Vote referendum, May 2011[link]

Farage declared himself personally in favour of the Alternative Vote system of May 2011, saying first-past-the-post is a "nightmare" for UKIP. However, the party's stance has to be decided by its central policy making committee.

May 2012 London Mayor & Local elections[link]

In a "bizarre cock-up," UKIP forgot to put their party name on their candidate's ballot paper for the London mayoral election, 2012, Laurence Webb appearing as "A fresh choice for London." Farage admitted the mistake describing it as an internal error. Interviewed by the following Sunday by Andrew Neil and asked about "the game plan", Farage welcomed the "average 13% vote" across the country, and stated that the party was preparing for County council in 2013, European elections in 2014 and a general election in 2015. The party was no longer just a protest vote, it would have a full manifesto with policies including selective schools, help to small businesses by "getting rid of excessive labour practices" and an energy policy not based on wind turbines. UKIP was here to stay ..frankly the Tory Eurosceptics were in the wrong party and would be better off joining UKIP. Asked what would happen to UKIP if the Tories made a Manifesto commitment to a European referendum, Farage said they had already failed to honour a "cast iron" commitment for a referendum on the Lisbon treaty. Challenging Farange's viewpoint, Neil said UKIP aspired to come top of the European elections but whilst UKIP wanted to join the big time, they were still seen as "unprofessional, amateur and even unacceptable" after their press officer called Baroness Warsi "a bitch". Farage regretted "the wrong choice of words" but further described Warsi as "the lowest grade chairman the Tory party has ever had." Neil then mocked the so called internal error which had made Farage "a joke". "The blunt truth is" UKIP "didn't win any more seats, the performance in London was terrible and they were still a one man band." Farage conceded London was a failure but they had won council seats elsewhere. He invited Tories who couldn't stand Cameron to help him.

Controversies and whistleblowing[link]

Copyright infringement[link]

In 1999 the BBC spent four months filming a documentary about his European elections campaign but didn't show it. Farage, then head of UKIP's South East office, asked for a video and got friends to make illegal copies which were sold for £5 through the UKIP magazine. Surrey Trading Standards investigated and Farage has admitted the offence.

Expenses disclosure[link]

In May 2009, ''The Guardian'' reported that Farage had said in a speech to the Foreign Press Association that over ten years as a member of the European Parliament he received £2 million of taxpayers' money in staff, travel, and other expenses on top of his £64,000 a year salary.

The former Europe Minister, Denis MacShane, said that this showed that Farage was "happy to line his pockets with gold". Farage called this a "misrepresentation", pointing out that the money had been used to promote UKIP's message and staff salaries, not his own salary, but he welcomed the focus on the issue of MEP expenses, claiming that "[o]ver a five year term each and every one of Britain's 78 MEPs gets about £1 million. It is used to employ administrative staff, run their offices and to travel back and forth between their home, Brussels and Strasbourg."

Jacques Barrot[link]

On 18 November 2004, Farage announced in the European Parliament that Jacques Barrot, the French Commissioner designate, had been barred from elected office in France for 2 years, after being convicted in 2000 of embezzling £2 million from government funds and diverting it into the coffers of his party. He claimed that French President Jacques Chirac had granted Barrot amnesty. Although initial BBC reports claimed that, under French law, it was illegal even to mention the conviction, the prohibition in question only applies to French officials in the course of their duties. The president of the Parliament, Josep Borrell, enjoined him to retract his comments under threat of "legal consequences". However, the following day it was confirmed that Barrot had received an 8 month suspended jail sentence in the case, and that this had been quickly expunged by the amnesty decided by Chirac and his parliamentary majority. The Commission's president, Jose Manuel Barroso admitted that he had not known of Barrot's criminal record when appointing him as a Commission vice-president. The Socialist and Liberal groups in the European Parliament then joined UKIP in demanding the resignation of Barrot for failing to disclose the conviction during his confirmation hearings.

José Manuel Barroso[link]

During the spring of 2005, Farage requested that the European Commission disclose where the individual Commissioners had spent their holidays. The Commission did not provide the information requested, on the basis that the Commissioners had a right of privacy. The German newspaper ''Die Welt'' reported that the President of the European Commission, José Manuel Barroso had spent a week on the yacht of the Greek shipping billionaire Spiro Latsis. It emerged soon afterwards that this had occurred a month before the Commission under Barroso's predecessor Romano Prodi approved 10.3 million euro of Greek state aid for Latsis' shipping company. It also became known that Peter Mandelson, then a member of the Commission, had accepted a trip to Jamaica from an unrevealed source.

Farage persuaded around 75 MEPs from across the political divide to back a motion of no confidence in Barroso, which would be sufficient to compel Barroso to appear before the European Parliament to be questioned on the issue. The motion was successfully tabled on 12 May 2005, and Barroso appeared before Parliament at a debate on 26 May 2005. The motion was heavily defeated. A Conservative MEP, Roger Helmer, was expelled from his group, the European People's Party - European Democrats (EPP-ED) in the middle of the debate by that group's leader Hans-Gert Poettering as a result of his support for Farage's motion.

Joseph Daul[link]

In January 2007, the French farmers' leader Joseph Daul was elected the new leader of the European People's Party–European Democrats (EPP-ED), the European Parliamentary grouping which then included the British Conservatives. The UK Independence Party almost immediately revealed that Daul had been under judicial investigation in France since 2004 as part of an inquiry into the alleged misuse of public funds worth €16 million (£10.6 million) by French farming unions." It was not suggested that Daul had personally benefited, but was accused of "complicity and concealment of the abuse of public funds." Daul accused Farage of publicising the investigation for political reasons and threatened to sue Farage, but did not do so though the court dropped all charges against him.

Prince Charles[link]

Prince Charles gave a speech to the European Parliament on 14 February 2008, in which he called for EU leadership in the war against climate change. During the standing ovation that followed, Farage was the only MEP to remain seated and went on to describe the Prince's advisers as "naïve and foolish at best." Farage continued: "How can somebody like Prince Charles be allowed to come to the European Parliament at this time to announce he thinks it should have more powers? It would have been better for the country he wants to rule one day if he had stayed home and tried to persuade Gordon Brown to give the people the promised referendum on the Treaty of Lisbon." The leader of the UK Labour Party's MEPs, Gary Titley, accused Farage of anti-Royalism. Titley said: "I was embarrassed and disgusted when the Leader of the UK Independence Party, Nigel Farage, remained firmly seated during the lengthy standing ovation Prince Charles received. I had not realised Mr Farage's blind adherence to right wing politics involved disloyalty and discourtesy to the Royal Family. He should be thoroughly ashamed of himself and should apologise to the British people he represents."

Herman Van Rompuy[link]

After the speech of Herman Van Rompuy on 24 February 2010 in the European parliament, Farage—to protests from other MEPs—addressed the first long-term President of the European Council saying that he has the "charisma of a damp rag and the appearance of low grade bank clerk". Farage questioned the legitimacy of Van Rompuy's appointment asking "Who are you? I'd never heard of you, nobody in Europe had ever heard of you", he also asserted that Van Rompuy's "intention is to be the quiet assassin of European democracy and of European nation states." In the same speech he also referred to Belgium, the home of Van Rompuy, as "pretty much a non-country". Van Rompuy commented afterwards, "There was one contribution that I can only hold in contempt, but I'm not going to comment further." After refusing to apologise for behaviour that was, in the words of the President of the European Parliament, Jerzy Buzek, "inappropriate, unparliamentary and insulting to the dignity of the House", Farage was reprimanded and had his right to ten days' allowance (expenses) rescinded.

The President of the European Parliament, Jerzy Buzek, said after his meeting with Farage:

I defend absolutely Mr Farage's right to disagree about the policy or institutions of the Union, but not to personally insult our guests in the European Parliament or the country from which they may come. [. . .] I myself fought for free speech as the absolute cornerstone of a democratic society. But with freedom comes responsibility - in this case, to respect the dignity of others and of our institutions. I am disappointed by Mr Farage's behaviour, which sits ill with the great parliamentary tradition of his own country. I cannot accept this sort of behaviour in the European Parliament. I invited him to apologise, but he declined to do so. I have therefore - as an expression of the seriousness of the matter - rescinded his right to ten days' daily allowance as a Member.

Questioned by Camilla Long, Farage declared of his speech "it wasn't abusive, it was right."

European economic governance[link]

He spoke of the EU being "German-dominated" in a speech at the European-Parliament on 18 November 2011.

Views on the euro[link]

From taking office as a UKIP MEP in 1999, Farage has often voiced opposition to the "euro project". His argument is that "a one size fits all interest rate" cannot work for countries with structurally different economies, often using the example of Greece and Germany to emphasise contrast. He predicted the need for 'bailouts' before European Commission and European Central Bank officials admitted that these steps would be necessary. Specifically, Farage predicted that Greece, Ireland, Portugal and Spain would all require such assistance. To date, Spain is the only predicted country that has not asked for a 'bailout'. Although Spain and Italy have both had indirect assistance from the ECB, whereby secondary government bonds are bought by the central bank, they are prohibited from purchasing new bonds. Farage warns: "You can ignore the markets if you want to, but in time the markets will not ignore you". Farage also reinforces Germany's argument that Italy "should never have joined the euro".

Farage predicts that if the situation continues it will lead to violence due to the people's inability to "determine their own futures through the ballot box" as it will become the only "logical" tool to enable them to escape from their "economic prison" i.e. the Eurozone. He proclaims "I can only hope and pray that the euro project is destroyed by the markets before that really happens."

Farage strongly opposes the use of 'bailouts' and claims that "buying your own debt with tax payers money" will not solve the problem and that, "if we do, the next debt crisis won't be a country", "it will be the European Central Bank itself".

Electoral performance[link]

Nigel Farage has contested several elections under the United Kingdom Independence Party banner:

Itchen, Test and Avon, European Parliament Election 1994 - 12,423 votes, representing 5.2% of total votes cast

Eastleigh by-election, 1994 - 952, 1.4%

Salisbury, 1997 general election - 3,332, 5.7%

European Parliament election, 1999 - elected member for South East England from party list

Bexhill and Battle, 2001 general election - 3,474, 7.8%

European Parliament election, 2004 - elected member for South East England from party list

South Thanet, 2005 general election - 2,079, 5.0%

Bromley and Chislehurst by-election, 2006 - 2,307, 8.0%

European Parliament election, 2009 - elected member for South East England from party list.

Buckingham, 2010 general election - 8,410, 17.4%

Footnotes[link]

References[link]

2002 Amnesty law

Penal Code, articles L133-9, L133-10, L133-11

External links[link]

Nigel Farage MEP ''Official website''

Nigel Farage ''Profile at European Parliament website''

UKIP MEPs ''Official website of the UK Independence Party in the European Parliament''

Europe of Freedom and Democracy ''Political group in the European Parliament''

Category:1964 births Category:Living people Category:United Kingdom Independence Party politicians Category:Members of the European Parliament for English constituencies Category:Critics of the European Union Category:People from Farnborough, London Category:People educated at Dulwich College Category:Leaders of the United Kingdom Independence Party Category:British libertarians Category:UK Independence Party MEPs Category:MEPs for the United Kingdom 1999–2004 Category:MEPs for the United Kingdom 2004–2009 Category:MEPs for the United Kingdom 2009–2014 Category:Survivors of aviation accidents or incidents Category:Testicular cancer survivors

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