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euro the primary currency unit of the European Union and the sole currency, in 2022, of nineteen participating member states: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. One euro equals one hundred cents. Some European countries that are not members of the European Union use the euro, and certain other nations are in the process of adopting the euro. [1/2 definitions]
European Union an economic and political union of a large number of democratic countries in Europe formed in 1993 from the former European Economic Community. Additional nations have joined since 1993, and one, the United Kingdom, had been a member originally but removed itself in 2020. The European Union currently consists of the member states Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden. Many of the countries share a common currency, the Euro.