Recycling nurse's convertible Euro (6,8)

I believe the answer is:

single currency

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'euro' is the definition.
Both the answer and definition are singular nouns.
Perhaps there's an association between them I don't understand?

'recycling nurse's convertible' is the wordplay.
'convertible' indicates anagramming the letters.
'recycling'+'nurse'='recyclingnurse'
'recyclingnurse' anagrammed gives 'SINGLE CURRENCY'.

Can you help me to learn more?

(Another definition for single currency that I've seen is " Mark's successor perhaps".)

I've seen this clue in the Sydney Morning Herald.

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