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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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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
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005


(Economic and Monetary Union) The consolidation of European currencies into one monetary unit called the "euro," which phased in on January 1, 1999. Accounting systems that dealt with the currencies of the participating countries had to deal with both native and euro values. On January 1, 2002, euro notes and coins were made available, with national currencies withdrawn by March 1 of that year. Public and private companies spent more than $150 billion (USD equivalent) modifying their information systems. As of January 1, 2015, the following countries use the euro:

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References in periodicals archive ?
HOTELIERS in two British holiday resorts have announced they are to accept the Euro currency this year in a bid to help holidaymakers beat the recession.
TO cover up his many mistakes our Prime Minister is contemplating adopting the euro currency.
After tax new cars sold in Ireland are on average 29 per cent dearer than the average price of new cars sold in the Euro currency zone.
In a report to the first EU finance council, which it chairs, Finland said alcohol tax reform, levelling up minimum rates, should be considered ahead of VAT reform, expanding the Euro currency, and finalising the EU budget.
According to the car price index published by PricewaterhouseCoopers together with, the car prices in other euro currency countries had increased by 4% during the same period.
New car retail prices in the UK are the same as the average price of a new car in the euro currency zone which rose 4.5 per cent.
"We should seriously study possibility of using a common ASEAN currency", he said in reply to a question about intra-regional trade, adding "We should be watching the euro currency, may be it's very good for ASEAN.
"Smaller specialty stores waited until the last minute to upgrade their systems to accept the Euro currency and larger format food stores improved their technologies to better compete with Wal-Mart's european operations."
Well, his program includes abolishing the income tax, measures against illegal immigration, withdrawal of France from both the European Union and the new euro currency, and opposition to abortion.
ALTHOUGH the euro currency is the future for Britain I cannot see a referendum being won in the near future.
Internet payment processing company WorldPay has conducted a survey across 35 countries looking into the attitudes of the public towards the new euro currency.
In addition, compliance with the new euro currency standards was looming.