Topics are divided thematically into five chapters. Chapter 1 "Introduction to the Euro" offers a general orientation for those readers who are totally new to the subject. Chapter 2 "Birth of the Euro" presents crucial contextual information and describes the basic economic and financial features of monetary union. Chapter 3 "Monetary Policy in the Euro Zone" outlines the new structure of monetary policy in Europe, with particular emphasis on the structure and operation of the newly created European Central Bank (ECB). Chapter 4 "The Euro's Effects on Business Environments Worldwide" then turns to the euro's immediate and long-term effects on business environments and capital markets worldwide. Chapter 5 "The Euro's Effects on Firms and Individuals Worldwide" concludes by explaining the specific consequences that the new trans-European currency has for industries, firms, and investments