Since the 1960’s the European Union and its predecessors had a goal of a single currency for European countries. In 1999 the Euro was born in the non-physical form of traveller’s cheques, electronic transfers and banking. Notes and coins did not come into circulation until January 2002. All EU States entered into the monetary union apart from the United Kingdom and Denmark. The new notes and coins first became valid on the French Island of Reunion, in the Indian Ocean, where the first official purchase took place.