Frankfurt was founded by the Romans in the 1st Century AD and became the royal residence to Charlemagne in the 8th century. Under the Treaty of Verdun, in 843 Frankfurt was named the capital of the Eastern Franks. Established as a trading centre since the Roman times, Frankfurt became famous for its city fairs, which drew traveling merchants from all over Europe in the 12th century. In 1240 the Frankfurt fair received imperial authorization by Kaiser Friedrich II.
After the Popes stopped crowning the emperors, the coronation process moved to Frankfurt. The ceremonies took place at St. Bartholomew''s Cathedral and were followed by an elaborate banquet in the City Hall. The crowning of the German King is what thrust Frankfurt into prominence. The people of Frankfurt purchased their independence in 1372 from Karl IV for 8800 Gulden, which made Frankfurt a free imperial city.
In 1521 Martin Luther stayed the night in Frankfurt and held sermons on the reformation. As a result this city was one of first to accept Luther''s controversial ideas and in 1530 Frankfurt accepted the reformation and opened the first book printing presses. With this, Frankfurt becomes one of Germany''s most important printing cities and one of Europe''s largest centres for books. Though Frankfurt was a free state that did not prevent the city from being occupied many times in wars in the 17th and 18th centuries. In 1533, due to the reformation the city outlawed public Catholic services. Shortly after the city signed the Augsburg Religious treaty officially making Frankfurt a city of mixed religions. This religious freedom drew people from the Netherlands who quickly made up one fifth of the Frankfurt population.
Frankfurt was the original home of the Rothschilds, Jewish Merchants and Bankers who helped enormously with the economic growth of the city. Frankfurt''s Jewish community, helped to give the city its banking tradition and also cultural and academic heritage. After the disintegration of the Holy Roman Empire in 1806, Frankfurt was included in the principality of Rengensburg and Aschaffenburg and was no longer a free state. This principality was created for Karl Theodor van Dalbery by Napoleon I.
In 1814-1815, the Congress of Vienna restored Frankfurt to a free city. The Rhine - Main Airport opened in Frankfurt in 1936 and today is the 2nd largest airport in Europe after Heathrow. Frankfurt was heavily damaged as a result of WWII and much of the old village and the city centre was demolished. In 1948-49 Frankfurt held the first German National Assembly called the Frankfurt Parliament. In 1957 The German Central Bank started business in Frankfurt and was one of the stepping points in making Frankfurt the banking centre that it is today. In 1991 the European Monetary Unit relocated its offices to Frankfurt and in 1997 the Commerzbank tower was completed, making Frankfurt the location of the tallest skyscraper in Europe at 300m tall.
Since the wartime raids when Frankfurt''s historical monuments and well-preserved medieval quarter were destroyed, many of the landmarks have been restored. Frankfurt today is the headquarters of Germany''s stock exchange, the German Federal Reserve (Bundesbank) and the European Central Bank. The Deutschmark was created in Frankfurt and Europe''s new single currency, the Euro, was launched here on Jan 1, 1999.