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The euro area, [8] commonly called the eurozone (EZ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro as their primary currency and sole legal tender, and have thus fully implemented EMU policies. The 20 eurozone members are:
All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here. In Europe, the most commonly used currency is the euro (used by 26 countries); any country entering the European Union (EU) is expected to join the eurozone [1] when they meet the five convergence criteria. [2]
The euro (symbol: €; currency code: EUR) is the official currency of 20 of the 27 member states of the European Union. This group of states is officially known as the euro area or, more commonly, the eurozone. The euro is divided into 100 euro cents. [6] [7]
The relationship between euro and non-euro states has been on debate both during the United Kingdom's membership (as a large opt-out state) and in light of withdrawal from the EU and how that impacts the balance of power between the countries inside and those outside the eurozone, avoiding a eurozone caucus out-voting non-euro states. Former ...
Outside the EU, there are currently three French territories and a British territory that have agreements to use the euro as their currency. All other dependent territories of eurozone member states that have opted not to be a part of EU, usually with Overseas Country and Territory (OCT) status, use local currencies which are often pegged to the euro or U.S. dollar.
This is a sortable list of all European countries by their gross domestic product in billions of US dollars at market or official government exchange rates (nominal GDP), according to the International Monetary Fund. The economic and political map of Europe also includes: Turkey, Georgia, Armenia, Azerbaijan, Cyprus and Kosovo.
The eurozone of the European Union (EU) consists of those 19 EU member-states where the euro is the official currency. It is managed by the Eurosystem , the Eurogroup and the Euro summit . Subcategories
1 These countries are currently not participating in the EU's single market (EEA), but the EU has common external Customs Union agreements with Turkey (EU-Turkey Customs Union in force since 1995), Andorra (since 1991) and San Marino (since 2002). Monaco participates in the EU customs union through its relationship with France; its ports are ...