Complex sentence: The proposal by R. Arutchyan cognates with Euro sign shape and the proposal by V. Phenesyan is based on the first letter of Armenian word Փող (money, pronounced as "phokh").
Split into simpler sentences: The proposal by R. Arutchyan cognates with Euro sign elements. In its turn, the proposal by V. Phenesyan is based on the first letter of Armenian word Փող (money, pronounced as "phokh").