Euro bank notes. The euro is the currency of the euro-zone member states of the European Union, and replaced their national currencies. These national currencies ceased to be legal tender from 1 March 2002. One euro consists of 100 cents. Seven bank note denominations (5, 10, 20, 50, 100, 200 & 500 euros) are in use. Each depicts a different style of European architecture. The front side shows a window or gateway, while the flip-side shows a bridge. The euro was created on 1 January 1999 as part of European Monetary Union (EMU), but it was only used for non-cash transactions until the introduction of coins and notes on 1 January 2002.