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1) "euro" - single european currency used by all members of the european union except UK, denmark, sweden since 01/01/2002.
2) 1 euro = 1.3-something $
"dollars? come on, how much is that in real money?"
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Currency in use in the greater part of the European Union since January 2nd, 2002. Adopted on that date by a core group of twelve countries: Spain, Portugal, France, Belgium, Luxembourg, the Netherlands, the Republic of Ireland, Germany, Finland, Austria, Italy and Greece. The Euro has been adopted more recently by Slovenia, and subsequently (and jointly) by Malta and Cyprus. It is therefore a single currency for some 317 million Europeans, or more than the total population of the United States. Slovakia is set to adopt the Euro at the start of 2009, followed by Lithuania a year later and Estonia at the start of 2011, with other mainly eastern European states following not too long afterwards.
Coins in the currency are marked on one side with a representation of Europe (or the globe on copper coins) and on the obverse with a national design that varies between countries and often between denominations within a country; all versions are of course legal tender within the Euro zone. 1, 2 and 5 cent coins are of copper plated steel. 10, 20 and 50 cent coins are of an alloy known as Nordic Gold for its colour but in fact are gold free. 1 Euro coins have are two-toned, with a cupronickel centre and a surrounding nickel brass ring, a design reversed on the 2 Euro coin.
Bank notes are standardised across the Euro zone and feature representations of different styles of windows and bridges symbolic of the openness of the unifying European culture, with more modern architectural styles represented on higher denomination notes.
The Euro started off within a cent of parity with the US dollar; the exchange rate at the time of writing is approaching one Euro to one US dollar and fifty cents. Various countries in the Far East have expressed a preference for the Euro over the dollar as a unit of international currency.
This lager costs five Euro and is way too expensive.
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Currency that came into affect within the 11 eurozone countries in January 1999. Coins and notes were introduced into circulation in 2002. The European Central Bank (ECB) regulates the monetary policies of the Economic and Monetary Union. Benefits of the euro include reduced transaction costs, reduced uncertainty and risk due to price transparency and merger activity. The main cost is the cost of converting (price signs, tills, vending machines etc)However, this is only short term and if countries such as the Czech Republic and Slovakia think they can afford it then the UK can.
Jimmy - "Man I sure wish the British public would come to their senses and realise that in the long term the UK should join the euro and stop living in the past. It's just because they're too thick to understand the value of the euro and wouldn't be able to cope with losing their precious pounds"
Billy - "Yea woteva man lets go play computer games"
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Common currency of the eurozone, a currency union of 17 out of the 27 states of the European Union. Currency sign is €.
As of submission, €1 = approximately $1.50
PROS:
Trade and import-export transactions within Europe and with other nations is much easier.
No more national currencies in the eurozone saves quite a bit of money for consumers and travelers, as well as businesses which engage in a high degree of cross-border business.
The pooled European capital of the euro currency has created a strong world reserve currency that could not have been achieved with the previous national currencies.
CONS:
German (and to a lesser extent French) taxpayers find themselves perpetually bailing out countries with dysfunctional economies. See Greek Debt Crisis.
Not all nations in the Eurozone are equally wealthy or in a position to maintain healthy debt-to-GDP ratios over long periods. The interest rates set by the ECB are often favorable for wealthier eurozone countries but not for poorer ones. While some less-wealthy countries can't survive without a default, other less-wealthy countries muddle along with unhealthy but sort of manageable debt levels. The euro is not necessarily good for these countries, as they can't periodically devalue currency to improve their trade. Then again, their ability to trade without the losses of currency conversion highlights the benefits of a common currency.
My recent hostel stay in Italy cost €830 for three weeks. Good deal for an American? How about $1200. Damn you, Mr. Monopoly Man and your happy colored euro bills!
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Common european currency used since 01/01/2002, its value is exactly equal to 1000 lire.
Italian and European politicians keep saying that 1 euro equals 1936.27 lire, but nobody believes them.
I used to pay 30000 lire to eat at the restaurant until 2001, now I always spend 30 euro!
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1. someone from or living in a european country
2. european
That euro beat is most annoying music ever.
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