euro

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euro:

see European Monetary SystemEuropean Monetary System,
arrangement by which most nations of the European Union (EU) linked their currencies to prevent large fluctuations relative to one another. It was organized in 1979 to stabilize foreign exchange and counter inflation among members.
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euro

the official currency unit, divided into 100 cents, of the member countries of the European Union who have adopted European Monetary Union; these are Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portgual, and Spain; also used by Andorra, Bosnia and Hercegovina, French Guiana, Guadeloupe, Kosovo, Martinique, Mayotte, Monaco, Montenegro, R?union, San Marino, and the Vatican City
References in periodicals archive ?
At that time, Dutch banks would have scrambled to retain Dutch resident euro deposits fleeing for safety into foreign euro accounts (where they could not be forcibly transformed into Dutch euros).
At best they would accept Holland back as a full EMU member almost immediately with Dutch euros re-converted into ordinary euros at a 1:1 rate.
The simplest procedure would be to re-incarnate the ecu (the basket currency in which EU monies were weighted roughly according to economic importance and which was converted into euros on a 1:1 basis at the start of EMU).