EUR): Name of the common European currency. It entered into force on January 1, 1999, in the form of giro money. After a three-year transitional period, the euro was also introduced in the form of banknotes and coins as official means of payment in the euro area on January 1, 2002. – The name euro was adopted at the European Council meeting in Madrid on December 15-16, 1995. In older treaties, in accordance with it, euro is now substituted for ECU (European Currency Unit). – The currency designation and its parts (cent; Cent; pronounced in Germany partly “Sent”, partly “Tsent” and “Zent”) has officially determined no plural form. Nevertheless, in colloquial language – and even now and then in professional circles! – sloppy “Euros” (similar to “Dollars”) and even “Euronen” prevail. – The Euro sign, unlike the USD, is officially placed after the number, i.e. $ 50 but € 50. – See dollar, ECU, globo, mark, neuro, petrodollar, price comparison, return ideology, thaler, terra, teuro, pre-distribution, currency denomination. – Cf. ECB Monthly Bulletin of November 2003, pp. 79 ff. (on the international role of the euro), Deutsche Bundesbank Monthly Bulletin of December 2008, pp. 31 ff. (Ten-year review: critical assessment), ECB Annual Report 2011, pp. 25 f. (exchange rate of the euro since 2006; overviews). – The current status and development of the exchange rate of the EUR against the USD, CHF, JPY, GBP and other and GBP iist is reproduced (with commentary) under the heading “Exchange rates” of the section “Euro area statistics”) in the respective ECB Monthly Bulletin.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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