What Are LYONs

question 20

Essay

What are LYONs?

---

Definitions:

European Union

A political and economic union of 27 European countries that are located primarily in Europe, committed to regional integration through common laws and policies.

Common Currency

A monetary system in which multiple countries or entities use the same currency, facilitating trade and economic integration among them.

Currency Exchange Rates

The value of one currency for the purpose of conversion to another, which plays a critical role in international trade and finance.

Euro

The official currency of 19 out of the 27 European Union countries, which is also used by the EU institutions.