euro

(redirected from European)
Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Encyclopedia, Wikipedia.
Related to European: European Union

Euro

Originally, the term for a deposit made outside one's home country but denominated in the home country currency. This terminology is confusing now since the new European Currency unit, also called the Euro, was introduced on January 1, 1999.

Euro

The currency of participating member nations of the European Union. The euro was introduced in 1999 and became the official currency of participating nations in 2002. It was intended to remove the exchange rate risk of businesses participating in the EU's common market and free trade association. It has become one of the world's most important currencies. Proponents of the euro state that it is more valuable than the former currencies, while opponents say that it has made goods and services in their home countries more expensive. The euro's ISO 4217 code is EUR. See also: European Central Bank, EURIBOR, Eurozone.

euro

A common currency used by many European countries. The euro was established in 1999 when 11 European countries adopted a common currency in order to facilitate global trade and encourage the integration of markets across national borders. Euro banknotes and coins began circulating in January 2002.

Euro.

The euro is the common currency of the European Monetary Union (EMU). The national currencies of the participating countries were replaced with euro coins and bills on January 1, 2002.

euro (₠)

the common (‘single’) currency of the EUROPEAN UNION (EU), introduced in January 1999 as an integral element in the move towards ECONOMIC AND MONETARY UNION (EMU). Initially, the euro served as a book-keeping ‘unit of account’; in 2002, however, euro banknotes and coins were put into circulation, to replace the individual domestic currencies of EMU members, so the euro is now used as a ‘medium of exchange’ to finance day-to-day transactions in goods, services and financial assets (see MONEY).

Eleven of the 15 countries of EU were founding members of the EMU zone in January 1999: Germany, France, Italy, Spain, Netherlands, Belgium, Austria, Finland, Portugal, Ireland and Luxembourg, with the UK, Sweden, Greece and Denmark adopting a ‘wait and see’ stance. Greece joined the euro-zone in 2001. The UK's position is still to be resolved on the basis of ? ‘tests of fitness’ (see ECONOMIC AND MONETARY UNION entry for details).

The value of the euro against the currencies of nonmembers of the EMU zone ‘floats’ on a day-to-day basis according to supply and demand conditions. For example, the value of the euro against the UK pound was around 71 pence when it was launched in January 1999. After falling to a low of 57 pence in May 2000, the Euro has since recovered and is currently (at March 2005) around 69 pence.

The euro is administered by the EUROPEAN CENTRAL BANK, which is responsible for setting EMU-wide interest rates and determining monetary policy.

Fig. 61 Euro. Euro/£ exchange rate. See entry. Source: The Daily Telegraph .click for a larger image
Fig. 61 Euro. Euro/£ exchange rate. See entry. Source: The Daily Telegraph .

euro (₠)

the common (‘single’) currency of the EUROPEAN UNION (EU), introduced in January 1999 as an integral element in the move towards ECONOMIC AND MONETARY UNION (EMU). Initially, the euro served primarily as a book-keeping ‘unit of account'; in 2002, however, euro bank notes and coins were put into circulation, replacing the individual domestic currencies of EMU members, and the euro was then used as a ‘medium of exchange’ to finance day-to-day transactions in goods, services and financial assets (see MONEY).

Eleven of the 15 countries of the EU were founding members of the EMU zone in January 1999. The value of the euro against each of the individual currencies of the 11 members of EMU was irrevocably fixed at that time, thus serving to fix the cross-exchange rates of one member's currency against all other members’ currencies. These conversion rates ceased in 2002, when domestic currencies themselves were replaced by the euro. The value of the euro against the currencies of nonmembers of the EMU zone ‘floats’ on a day-to-day basis according to supply and demand conditions. For example, the value of the euro against the UK pound was around 71p when it was launched in January 1999. As at April 2005, one euro was worth (UK) 0.69 pence or, expressed in terms of the UK pound, £1 = 1.45₠ (see Fig. 61 ). The euro is administered by the EUROPEAN CENTRAL BANK, which is responsible for setting EMU-wide interest rates and determining monetary policy. Greece joined the eurozone in 2001. See ADJUSTMENT MECHANISM.

References in periodicals archive ?
The European Leadership Awards, granted on May 6, 2019 in Brussels, honour leaders across Europe for their exceptional achievements in politics, business, and innovation, the Euronews website reported.The ceremony is organised jointly by the Euronews website and the European Business Summit (EBS).
He underlined that the European path of BiH is supported by everyone in the country, which is also confirmed by the completion of the process of preparing the responses to additional questions from the European Commission Questionnaire at the time of the formation of power and political party negotiations.
The yearbook provides current information about the many organizations that European countries belong to, describing their status and activities during the 2017 calendar year.
It is a "strategic" partnership and an important "lever of economic and political development" for Tunisia and Tunisian-European relations, according to a statement from the European University of Tunis sent to TAP.
8 April 2016 - UK-based fund management group Liontrust Asset Management Plc has entered into a conditional agreement to purchase the European income fund management business of Argonaut Capital Partners LLP for an anticipated GBP 4.47m (USD 6.31m) in cash, the group said.
The European Corporate Banking and European Large Corporate Trade Finance rankings were published by consulting firm Greenwich Associates and show BNP Paribas is the number one in European Top-Tier Large Corporate Banking market penetration by securing relationships with 56% of the largest European companies; the number one in European Top-Tier Large Corporate Cash Management market penetration by securing relationships with 36% of the largest European companies; number one in Deutsche Bank and HSBC, European Top-Tier Debt Capital markets market penetration by securing relationships with 29% of the largest European companies; and number one in HSBC and Deutsche Bank European Large Corporate Trade Finance by securing 25% of Large Corporate Trade Finance users in Europe.
At the European Parliament in Brussels on 7 June, on behalf of the Government of the Republic of Macedonia, he addressed the 10th Meeting of the European Union-Republic of Macedonia Joint Parliamentary Committee, in which Members of the Parliament of the Republic of Macedonia and the European Parliament participated.
BRUSSELS, May 19, 2011 (TUR) -- President of the European Commission Jose Manuel Barroso said that Turkey would not be a burden to the European Union, adding that on the contrary Turkey would bring in a significant added value.
Bulgaria's Kristalina Georgieva has triumphed with the "European of the Year" and "EU Commissioner of the Year" awards of the prestigious newspaper European Voice.
The European Convention of Human Rights was adopted in Rome on November 4th 1950 by the European Council.
of Homeland Security under the terms of which the US government committed to restrict the use of data to comply with European privacy laws.

Full browser ?