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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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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
EMU(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 On January 1, 2002, euro notes and coins were made available, with national currencies withdrawn by March 1 of that year.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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