Worth to know

Spain (Spanish: 'España') or the Kingdom of Spain (Spanish: Reino de España), is a country located mostly in southwestern Europe on the Iberian Peninsula. The Spanish mainland is bordered to the south and east almost entirely by the Mediterranean Sea (except for a small land boundary with Gibraltar); to the north by France, Andorra, and the Bay of Biscay; and to the west by the Atlantic Ocean and Portugal. Spanish territory also includes the Balearic Islands in the Mediterranean, the Canary Islands in the Atlantic Ocean off the African coast, and two autonomous cities in North Africa, Ceuta and Melilla, that border Morocco. With an area of 504,030 km², Spain is the second largest country in Western Europe (after France) and with an average altitude of 650 m, the second highest country in Europe (after Switzerland).

Spain is a constitutional monarchy organised as a parliamentary democracy and has been a member of the European Union since 1986, and NATO since 1982. It is a developed country with the eighth largest economy in the world and fifth largest in the EU, based on nominal GDP.

History

Spain is a key site when it comes to studying the human prehistory of Europe. After a long and hard conquest Hispania became one of the Roman Empire's most important regions. During the early Middle Ages it came under Germanic rule. Later it was conquered by Muslim invaders. Through a very long and fitful process, the Christian kingdoms in the north gradually rolled back Muslim rule, finally extinguishing its last remnant in Almería in 1492. The same year Columbus reached the New World, a global empire began. Spain became the strongest kingdom in Europe and leading world power during the 16th century and first half of the 17th century, but continued wars and other problems eventually led to a diminished status. A French invasion of Spain in the early 19th century led to chaos; triggering independence movements that tore apart most of the empire and left the country politically unstable. In the 20th century it suffered a devastating civil war and came under the rule of a dictatorship, leading to years of stagnation, but finishing in a strong economic revival. Democracy was restored in 1978 in the form of a constitutional monarchy. In 1986, Spain joined the European Union; experiencing a cultural renaissance and steady economic growth.

 

Currency

The euro (currency sign: €; currency code: EUR) is the official currency of 16 out of 27 member states of the European Union (EU). The states, known collectively as the Eurozone are: Austria, Belgium, Cyprus, 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, with and without formal agreements and is consequently used daily by some 327 million Europeans.

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. Physical coins and banknotes entered circulation on 1 January 2002.