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ERM-II by 2026 and euro by 1 January 2029 [12] [21] [14] Not compliant with any of the 5 criteria Sweden: Krona (SEK) Free floating 1995-01-01 None Not on government's agenda [22] Compliant with 2 out of 5 criteria Rejected euro adoption by referendum in 2003. Still obliged to adopt the euro once compliant with all criteria. [note 2]
Romania's national currency is the leu / RON.After Romania joined the European Union (EU) in 2007, the country became required to replace the leu with the euro once it meets all four euro convergence criteria, as stated in article 140 of the Treaty on the Functioning of the European Union. [1]
The name euro was officially adopted on 16 December 1995 in Madrid. [16] The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$1.1743 at the time). Physical euro coins and banknotes entered into circulation on 1 January 2002, making ...