This article introduces the single currency process, currently underway in the European Union, that will give birth to a new currency, the euro.  The emergence of the euro will have an unprecedented impact on the world's financial markets.  These changes in the financial markets will require that enhancements be made to the software systems in order to calculate accurate asset valuations and performance returns. The reader will obtain an understanding of the European Union, the Economic & Monetary Union (EMU) process, and the related issues that automated systems must address.