Business / Agriculture / Euro: The single currency of the 11 countries that are members of the European Monetary Union, one of the institutions of the European Union. This new currency went into effect on January 1, 1999. The participating countries are Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Spain, and Portugal. The exchange rates for the currencies of these 11 countries were irrevocably fixed in terms of the euro on December 31, 1998. Although the euro is now the official currency, the transition will occur in two phases. For financial transactions, the euro replaced national currencies on January 1, 1999, but for notes and coins, it will replace national currencies in 2002. Four EU members did not join the launch of the euro in January 1999: Denmark, Greece, Sweden, and the United Kingdom.
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Business / Taxes / European Style Option: A listed option that you can exercise only on the last trading day before the expiration date is called a European style option whether it trades on a US exchange, a European exchange, or elsewhere in MORE
Business / Finance / Eurodollar: The 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. MORE