The Euro is the official currency of the European Union, and its predecessor was a combination of several different currencies. The ECU (European Currency Unit) was a basket of European currencies that was used from 1979 to 1998. The LIRA (Italian Lira) was the currency of Italy from 1861 to 2002. The LIRE (Romanian Lire) was the currency of Romania from 1867 to 2005. The PESETA (Spanish Peseta) was the currency of Spain from 1868 to 2002. The FRANC (French Franc) was the currency of France from 1360 to 2002. The GUILDER (Dutch GUILDER) was the currency of the Netherlands from the 16th century to 2002. The DRACHMA (Greek DRACHMA) was the currency of Greece from 1832 to 2001. All of these currencies were replaced by the Euro in 2002.