The Euro (EUR) is the official currency of the European Union (EU), used in 15 member states of Eurozone. It is also used in 9 other countries around the world, 7 of those being in Europe.
The Euro was introduced to world financial markets as an accounting currency in 1999 and launched on 1 January 2002. The euro is managed and administered by the European Central Bank (ECB).
Starting from June 2008, WebMoney Transfer E units (WME) are circulating in the system as e-checks, its face value is equivalent to EUR. Checks are paid by the "Network Clearing House" - the credit institution.