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EuroThe common currency of a subset of the countries of the EU, adopted January 1, 1999, with paper notes and coins put into circulation January 1, 2002.EuroThe successor to the European Currency Unit (ECU) as the European currency. The euro was introduced in 11 member states on 1st January 1999. They were Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain.Similar MatchesEuropean Monetary SystemEuropean Monetary SystemThe monetary system of the EC which attempts to reduce the currency variations between members. The EMS became operational on March 13th, 1979, as the successor to the 'snake in a tunnel'. Its aim was to create a zone of monetary stability in Europe. Its general principles were outlined at the Bremen Summit in July 1978, and the system was presented in detail at the Brussels Summit in December. The EMS consists of three mechanisms: the ERM; accounting and transaction mechanisms related to the ECU; and credit mechanisms to enable central banksą intervention in the currency markets. All the European Community countries belong to the EMS, although not all of them participate in the ERM. Eurocredit marketEurocredit marketComprises banks that accept deposits and provide loans in large denominations and in a variety of currencies. The banks that constitute this market are the same banks that constitute the Eurocurrency market; the difference is that Eurocredit loans are longer-term than so-called Eurocurrency loans. Euro noteEuro noteShort- to medium-term debt instrument sold in the Eurocurrency market. Eurocurrency depositEurocurrency depositA short-term fixed-rate time deposit denominated in a currency other than the local currency (i.e., US dollars deposited in a London bank). Eurocurrency marketEurocurrency marketThe money market for borrowing and lending currencies that are held in the form of deposits in banks located outside the countries where the currencies are issued as legal tender. Further SuggestionseurocurrencyEurodollar European Currency Unit Eurodollar certificate of deposit Euro lines Euro commercial paper FT Eurotop 300 Eurobank Euro Depositary Receipt Eurodollar obligations European exchange rate mechanism (ERM) Euro Zone Eurocredits European Recovery Program Single European Act eurobond European Communities eurodollar European Association of Securities Dealers Automated Quotation (EASDAQ) EuroNM European Options Exchange (EOE) eurocheque scheme European Monetary System (EMS) European Monetary System Eurobond |
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