The euro (symbol: EUR; code: EUR) is the main currency of 19 of the 27 member states of the European Union. This group of states is referred to as the eurozone or euro location as well as consists of about 343 million citizens since 2019. The euro, which is divided into 100 cents, is the second-largest and also second-most traded money in the international exchange market after the USA dollar. The money is likewise used formally by the organizations of the European Union, by 4 European microstates that are not EU members, the British Abroad Territory of Akrotiri and also Delia, as well as unilaterally by Montenegro as well as Kosovo. Outside Europe, a variety of special territories of EU participants additionally make use of the euro as their money. In addition, over 200 million people around the world use money secured to the euro.
The euro is the second-largest book money as well as the second-most traded money worldwide after the United States dollar.
Since December 2019, with greater than EUR1.3 trillion in flow, the euro has among the highest mixed values of banknotes and also coins in flow in the world. The name euro was officially adopted on 16 December 1995 in Madrid. The euro was presented to globe economic markets as an accounting currency on 1 January 1999, replacing the former European Money System (ECU) at a ratio of 1:1 (US$ 1.1743). Physical euro coins and also banknotes participated in flow on 1 January 2002, making it the daily operating currency of its initial members, as well as by March 2002 it had actually entirely changed the previous money. While the euro dropped consequently to US$ 0.83 within two years (26 October 2000), it has actually traded above the U.S. dollar considering that completion of 2002, peaking at US$ 1.60 on 18 July 2008 as well as ever since returning near to its original problem price. In late 2009, the euro ended up being immersed in the European sovereign-debt situation, which caused the creation of the European Financial Security Center along with various other reforms aimed at securing and also strengthening the currency.
After a particularly pandemie-related minus of almost 7.5 million euros in the 2019/2020 financial year, Union announces a higher net loss for the 2020/2021 season. The registered association (E.V.) completed the second season in the Bundesliga with a minus of €10.375 million. The Irises announced the Irises as part of the digital general meeting, where, according to Club information on Thursday evening, 1406 members participated. Revenues of 71.255 million euros were therefore spending on 81.630 million euros.
Therefore, in the past financial year, negative equity (from minus 17,038 to minus €29.089 million) and liabilities (from €63.394 to €72.027 million) of the Group continued to grew further, to which in addition to EV Stadionbetrs-AG, Verwaltungs-GmbH and Events GmbH include. Ziegler explained the losses with lower revenue (about 6.5 million euros less than planned) and higher expenditure (around 3.8 million euros more than planned). The additional costs are also consequence of the sporty very successful 2020/2021 season, in which Union had reached the participation in the Europa Conference League as a table.
Fortune by loans
We paid a lot of bonuses. We paid so much for the license player department as never before. The past season has cost us money because we were very successful. Capitalization can I do this success only this season. And we do that, said Ziegler, who spoke despite the losses of the sporty and economically successful phase of club history and explained to the financial position of the highest of the Bundesliga: We invested in rights, invested in real estate, in the club, in the squad. Our real assets Our real liabilities far exceed.
The club chief estimated the actual assets of the Union Group to more than 250 million euros and explained: We create assets by taking up loans. We are ready to wear liabilities. So we have zero problems. I know that Modern of sustainability and debt is told. These are all topics that we do not deal with us. We only deal with a topic, and that means sporting success. And we are concerned with our assets always much higher than our debts are. That’s the way us.
Investment not only in the professional
Unlike some rivals, Union — only in the third year in the Bundesliga — despite the Corona crisis in the past transfer periods quite offensive in the obligation of new players presented, acting. The pandemic highlights the club quite good, because we are owned by the rights because we have high silence reserves because we had adequate liquidity before the corona crisis. So we did not have to get liquidity during the Corona crisis, But we have lived with the liquidity we had before the Corona crisis, said Ziegler.
The Credo of the FCU President has been for years that every euro is invested in the sporting success and the further development of the club because that was the basis for persistent stability. For his term of office, which is still running until 2025, the entrepreneur then announced further expenditure and an investment program of well over 100 million euros. We will invest in the NLS, in the stadium expansion, in the new training center, in organization and digitization. And of course we will also invest in the professional cider, said the 57-year-old.
Ghost Games Contra Annual Planning
The new construction of the junior power center (NLS) already runs. The extension of the old forester egg from 22.012 to about 37,000 spectators, which also requires a conversion of the training center behind the arena, is still in planning. Here, Union wants to have in 2022 construction law. The growth course should continue to continue with the inputs and expenditure. We will make 100 million euros for the first time this year. This is a threshold that has some symbolism, Ziegler announced for the current financial year and added: We will have the highest advertising revenue in the history of our club With 23.5 million euros. We give a new record number of around 47 million euros for the license planning department.
As of the reporting date, June 30, 2022, Union Plant with a small net surplus of 230,000 euros — always under the condition that vaccinated, albeit in a small extent, in the stadium. If at the beginning of the second round of germs, this planning is not to be maintained Ziegler said, who had expressed sharp criticism in the Corona Course of Politics in the run-up to the digital general meeting.