Title: Euro Definition
Headings: Euro
Euro
What is the Euro?
Key Takeaways
Understanding the Euro

Content: Euro Definition
Forex & Currencies Trading Forex Trading Strategy & Education
Euro
By
Akhilesh Ganti
Updated Sep 10, 2019
What is the Euro? The European Economic and Monetary Union (EMU), or EU, is comprised of 27 member nations, 19 of whom have adopted the euro as their official currency. Key Takeaways
The European Economic and Monetary Union is comprised of 27 member nations, 19 of whom have adopted the euro (EUR) as their official currency. A key benefit of implementing the euro is that it removed exchange rate risk from eurozone businesses and financial institutions operating in an increasingly globalized economy. Critics of the euro argue that its adoption has had negative consequences, such as giving the ECB the power to set monetary policy for the entire eurozone. Understanding the Euro
The EU introduced the euro in 1999, and physical euro coins and paper notes were introduced in 2002. The symbol "EUR" is the abbreviation for the euro and it is the second most traded currency in the world, after the U.S. dollar . The euro is the national currency of the EU member states who have adopted it, including Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Cyprus, Estonia, Latvia, Lithuania, Malta, Slovakia, and Slovenia. These countries form the eurozone, a region where the euro serves as the common national currency. Additionally, four other non-EU nations (Andorra, Vatican City, San Marino, and Monaco) use the euro as their official currency and several countries have their currencies pegged to the euro.