|—n , pl -os|
|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, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portgual, Slovakia, Slovenia, and Spain; also used by Andorra, Bosnia-Herzegovina, French Guiana, Guadeloupe, Kosovo, Martinique, Mayotte, Monaco, Montenegro, Réunion, San Marino, and the Vatican City|
The common currency used in eleven countries of the European Union (Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, The Netherlands, Portugal, and Spain). The euro became the official currency of these nations in 1999, but nations were not obliged to phase out their existing currencies until 2002. The expectation is that introduction of the euro will stimulate cross-border investment by eliminating fluctuating exchange rates.