euro

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euro

the European currency unit, a single currency for certain members (not the UK at the time of writing) of the EUROPEAN UNION. It represents progress towards economic and monetary union. The currency is managed by the EUROPEAN CENTRAL BANK.
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).
The issues of how a country could withdraw from EMU or how EMU might be totally dissolved are crucial in any serious analysis of the euro's future and its risks as an international investment currency.