Savings banks emerged in Germany in the second half of the XVIII century. The first private savings banks were established in Hamburg in 1778, followed by the creation of savings banks began by local authorities. Thus, at the present time almost all savings banks in Germany are state-owned. Feature liabilities savings banks is that they have no equity, equity capital consists of reserves. Strong and solid guarantee of deposits in savings banks provide local authorities.
Savings banks are engaged in attracting deposits. By the end of July 1997 598 savings banks with assets of $ 1 632.6 million marks, which exceeds grossbankov assets almost doubled. Zhirotsentrali central banks are savings banks, savings banks, they help to provide large loans. Zhirotsentrali up in every land.
At their head is German zhirotsentral. The system of savings banks and zhirotsentraley headed German communal bank. Thus, we can conclude that in the history of the German banking system characteristic is the creation of a large public sector, which includes the German Federal Bank, the state-owned banks with specific tasks, savings banks, mortgage banks and zhirotsentrali. History of the single European currency (the euro) The idea of the euro is not so new and young.
Efforts to integrate (or unify) monetary system arose repeatedly. Almost simultaneously with the appearance of coins. As you know, the first coins appeared in Lydia (States, are in Asia Minor) in the VII century BC Some of the ancient Greek city-states to enter into an alliance, agreeing on free circulation in the territory was subject to coins issued by each of them.
The most famous attempt to create a common monetary system was made in the Middle Ages as part of the Hanseatic League - a political and trade union Baltic cities in XIII-XVI centuries. At various times, it consisted of 70 to 170 subjects. Barter was conducted between numerous cities, principalities, and the smallest of them had their own money. In 1379, was awarded monetary union, in which coins were minted single sample (zekslingi, draylingi and others) taken in the major cities of the Hanseatic Luebeck, Hamburg, Rostock, Cologne, throughout Scandinavia, as well as in Novgorod and Pskov.
Members of the Union controlled the amount of money and order in the territory of the Hanseatic League. This monetary system has existed for decades and split up, as the very Hanseatic union.
Later, in Europe, attempts to combine the monetary system continued. In the first half of the XIX century, several projects for the integration of monetary systems. However, all of them were carried out in the framework of the newly created or already existing countries.
In particular, the creation of a single state, in Switzerland there are 11 different monetary systems in Italy drew dozens of different types of coins, and in the future the German Empire were 39 independent entities, each with its own coinage. In the second half of the XIX century in Europe there are two monetary union - Latin and Scandinavian within which the currency was carried out on a new basis. The prototype system of the euro can be considered Latin monetary union. It was created at the end of December 1865 by France, Italy, Belgium and Switzerland.
Monetary systems of these countries after the Napoleonic wars were virtually identical. From 1868 to the Latin Union also joined Greece. According to the original agreement, the Union was signed for 15 years, until January 1, 1880.
And if a year before the end of the term, no country declared its secession from the Union and the need to eliminate it, then the contract is automatically extended for another term. Convention 1865 is actually unified the coins in circulation in countries. For the Union they have the same weight, the sample material and the face value of coins. As the sample was used by the French metric coinage.
However, each country have been preserved national denomination basic monetary unit (in France, Switzerland and Belgium - Franc, Italy - lira, Greece - drachma). 5-franc silver and gold coins each state could produce without limitation, observing only a single ratio of gold and silver (1:15,5). But chasing a small coin was limited to 6 francs per capita.