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euro the sole currency unit of nineteen countries in the European Union and the currency used in a number of European countries that are not members of the Union. The euro was introduced in 1999, and, in countries that have adopted it, it replaces the type of money that was formerly used.
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.