The Euro is the currency of the European Union, and its predecessors were the Pesetas (7 letters), MARKS (5 letters) and Lire (4 letters). The Pesetas was the official currency of Spain from 1869 until 2002, when it was replaced by the Euro. The German Mark was the official currency of Germany from 1948 until 2002, when it was replaced by the Euro. The Italian Lira was the official currency of Italy from 1861 until 2002, when it was replaced by the Euro.