euro

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  • noun

Words related to euro

the basic monetary unit of most members of the European Union (introduced in 1999)

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References in periodicals archive ?
At the start of Stage 2 (January 1, 2008), 1:1 convertibility of euros to florins at the Dutch central bank would be suspended indefinitely.
For the first year of Stage 2 the public sector and utilities would still accept euros in settlement of florin invoices, with translation made on the basis of a reference exchange rate for the relevant period).
Technically, the Dutch government would issue (florin) bonds to its central bank and sell the florin proceeds in the foreign exchange markets for euros with which to buy the notes (from the central banks still in EMU).
Dutch euros could be used freely to settle euro-denominated accounts between Dutch residents (for example, purchases and sellers of goods and services) and to repay euro loans by Dutch banks to Dutch residents.
In the case of Dutch euros falling in value versus the free euro (as where the purpose of leaving EMU is to escape deflation), euro banknotes would go to a premium against Dutch euros (where the premium would be determined by the exchange rate between Dutch and free euros).