The economic and monetary union of 15 European Countries is proposed to be made by 1999. But the currencies of two countries, Franc, have already the same value and circulate freely in both the countries. The countries are

1. The question refers to the proposed Economic and Monetary Union (EMU) of 15 European Countries, aiming for a single currency (the Euro) by 1999. 2. It asks about two specific countries whose currencies (Francs) already had the same value and could circulate freely in both prior to the Euro's introduction. 3. This refers to the pre-existing monetary union between Luxembourg and Belgium. 4. The Belgian Franc and the Luxembourg Franc were pegged at par (1:1) under the Belgium-Luxembourg Economic Union (BLEU), established long before the Euro project. Both currencies were legal tender in both countries. 5. France used the French Franc, and Switzerland uses the Swiss Franc (Switzerland is not an EU member and did not join the Euro).