Eurozone

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The members of the Eurozone (as of February 1, 2020)
  • Countries with the euro as their legal currency
  • EU countries with a different legal currency
  • Non-EU countries that de facto use the euro
    • The European Central Bank (ECB) in Frankfurt is the transnational currency authority of the euro zone ( new building , ECB headquarters since 2015)

    The group of EU countries that have the euro as their official currency is referred to as the euro zone (officially also euro currency area or euro area ) . The euro zone consists of 19 EU countries and is therefore referred to as Euro-19 . Lithuania last adopted the euro as its official currency on January 1, 2015.

    The 19 countries of the euro area are:

    Belgium, Germany, Estonia, Finland, France, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovakia, Slovenia, Spain and the Republic of Cyprus.

    Of the remaining eight EU countries, seven are obliged to introduce the euro as soon as they meet the agreed convergence criteria . Denmark can introduce the euro, but does not have to, which means it has a de jure exit option. The same was true for the former EU member United Kingdom .

    The European Central Bank is responsible and responsible for the monetary policy of the euro zone . Together with the national central banks of the countries in the euro zone, it forms the Eurosystem . Within the framework of the Eurogroup, the states of the eurozone coordinate their tax and economic policies with one another, but without formal decision-making powers.

    Use of terms and demarcation to the European Economic and Monetary Union

    The term Eurozone itself does not appear in the founding treaties of the European Union ; its members are only referred to as “member states whose currency is the euro” ( Art. 136 ff. TFEU ). The Publications Office of the European Union does not use the term either, but instead uses the euro area or euro area to refer to “the countries participating in the euro as a whole”. In common usage, however, the term Eurozone has become established in German .

    The term European Economic and Monetary Union (EMU) is sometimes used synonymously . However, this expression denotes a policy area of ​​the EU in general. Formally, all EU member states are members of the EMU, whereby those countries that have not introduced the euro are referred to in the text of the treaty as “member states for which an exception applies” ( Art. 139 ff. FEU Treaty ).

    Sometimes the euro zone is also used in a broader sense for all states that use the euro, even if they are not EU members. They either have a currency agreement with an EU member state, unilaterally introduced the euro as their currency, or they have linked the rate of their currency to the key currency, the euro.

    Eurozone in the strict sense

    The euro area

  • Members of the Eurozone in the strict sense (Euro-19)
  • Members of ERM II
  • EU members with a free exchange rate to the euro
  • Non-EU members using the euro
  • Non-EU member with a fixed exchange rate to the euro (Bosnia and Herzegovina)
  • Non-EU members with a free exchange rate to the euro

    • In a narrower sense, the euro zone comprises those member states of the European Union that have introduced the euro as their currency. To do this, they had to meet the EU convergence criteria that are intended to harmonize the eurozone in terms of economic policy. On January 1, 1999, when the euro was introduced as book money , eleven of the then fifteen member states met these criteria . Greece announced in 2000 that it also met the criteria and joined the euro area on January 1, 2001.

    Introduction of the euro with euro coins and banknotes as the official currency

    However, there are some areas of the Member States that do not use the euro or only use it to a limited extent. This applies, for example, to Büsingen , a German exclave in Switzerland , where the euro is the official currency, but the Swiss franc is actually used.

    Another exclave in Switzerland is the Italian municipality of Campione d'Italia . Campione is economically well integrated into Switzerland. The Swiss franc is the official currency.

    In addition, none of the outer regions of the Netherlands (former Netherlands Antilles ) uses the euro, but the US dollar or local currencies linked to it. Some French outside areas in the Pacific use the CFP franc , which is, however, firmly pegged to the euro.

    Members

    The official designation for statistical measurements are:

    • EA-11: First countries 1999/2000 (AT, BE, DE, ES, FI, FR, IE, IT, LU, NL, PT)
    • EA-12: First countries 2001 and when cash was introduced in 2002 (EA-11 + GR)
    • EA-13: from 2007 (EA-12 + SI)
    • EA-15: from 2008 (EA-13 + CY, MT)
    • EA-16: from 2009 (EA-15 + SK)
    • EA-17: from 2011 (EA-16 + EE)
    • EA-18: from 2014 (EA-17 + LV)
    • EA-19: since 2015 (EA-18 + LT)

    It is also Euro-11 etc. common, since 2015 Euro-19

    Euro-19
    country introduction Residents Exceptions 1
    BelgiumBelgium Belgium January 1, 1999 11,467,923 (2019)
    GermanyGermany Germany 83,019,214 (2019) Büsingen am Hochrhein (in fact) 2
    EstoniaEstonia Estonia January 1, 2011 1,324,820 (2019)
    FinlandFinland Finland January 1, 1999 5,517,919 (2019)
    FranceFrance France 67,028,048 (2019) French PolynesiaFrench Polynesia French Polynesia 3 New Caledonia 3 Wallis and Futuna 3
    New CaledoniaNew Caledonia 
    Wallis FutunaWallis and Futuna 
    GreeceGreece Greece January 1, 2001 10,722,287 (2019)
    IrelandIreland Ireland January 1, 1999 4,904,226 (2019)
    ItalyItaly Italy 60,359,546 (2019) Campione d'Italia 2
    LatviaLatvia Latvia 1st of January 2014 1,919,968 (2019)
    LithuaniaLithuania Lithuania January 1, 2015 2,794,184 (2019)
    LuxembourgLuxembourg Luxembourg January 1, 1999 613,894 (2019)
    MaltaMalta Malta January 1, 2008 493,559 (2019)
    NetherlandsNetherlands Netherlands January 1, 1999 17,282,163 (2019) former Netherlands Antilles : 4

    AustriaAustria Austria 8,858,775 (2019)
    PortugalPortugal Portugal 10,276,617 (2019)
    SlovakiaSlovakia Slovakia January 1, 2009 5,450,421 (2019)
    SloveniaSlovenia Slovenia January 1, 2007 2,080,908 (2019)
    SpainSpain Spain January 1, 1999 46,934,632 (2019)
    Cyprus RepublicRepublic of Cyprus Cyprus January 1, 2008 875,898 (2019) Northern CyprusTurkish Republic of Northern Cyprus Turkish Republic of Northern Cyprus 5
    EurozoneEurozone Eurozone approx. 341,925,000
    1 Territory under the sovereignty of the respective euro zone state (or claimed by it), but which does not use the euro.
    2 Exclave of a euro zone state in Switzerland. The places are strongly integrated into the economy of Switzerland, so that the Swiss franc is used there in practice as a currency. From a purely legal point of view, however, the euro is the official currency.
    3The French overseas territories in the Pacific use the CFP franc , which is pegged to the euro with a fixed exchange rate.
    4thThe territories of the former Netherlands Antilles had been autonomous since 1954 and neither became part of the EU nor did they use the euro. Since the area was dissolved (2010), the islands have had different degrees of autonomy, but none of them use the euro. Aruba uses the Aruba florin , Curaçao and Sint Maarten use the Antilles guilder , both are pegged to the US dollar . The BES Islands use the US dollar.
    5The Turkish Republic of Northern Cyprus is not recognized by the EU and uses the Turkish Lira . The area is claimed by the Republic of Cyprus . The euro is in circulation as a second currency.

    Eurozone economy

    The following table shows the development of the harmonized index of consumer prices in the euro zone:

    Year (middle) 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
    Harmonized consumer index in percent 1.0% 2.0% 2.8% 1.9% 1.9% 2.5% 2.0% 2.5% 1.9%
    Increase based on one euro in 1998 1.00 € € 1.01 € 1.03 € 1.06 € 1.08 € 1.10 € 1.13 € 1.15 € 1.18 1.20 €
    Year (middle) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
    Harmonized consumer index in percent 4.0% −0.1% 1.5% 2.7% 2.4% 1.6% 0.5% 0.0% 0.2% 1.5%
    Increase based on one euro in 1998 € 1.25 € 1.25 € 1.27 1.30 € € 1.34 € 1.36 € 1.36 € 1.36 € 1.36 € 1.38
    Year (middle) 2018
    Harmonized consumer index in percent 1.8%
    Increase based on one euro in 1998 1.40 €

    Eurozone in a broader sense

    States and territories outside the EU that use the euro as their currency

    Some countries outside of the European Union also use the euro as their currency. At the time of the introduction of the euro, some of these mostly very small states had agreements with an EU member state on monetary union ; in some cases they unilaterally renounced the introduction of their own currency and instead allowed the euro to circulate as a foreign currency (so-called euroization ). The countries that use the euro outside the EU do not participate in the Eurosystem or the Eurogroup. The European Central Bank also does not formally take into account the economic situation in these countries when determining its monetary policy.

    With formal agreements

    State / Territory introduction agreement Residents
    AndorraAndorra Andorra (Jan.
    1, 1999) April 1, 2012     		June 30, 2011
    Jan. 26, 2016     		76,177 (2019)
    MonacoMonaco Monaco Jan. 1, 1999 Dec 24, 2001
    Oct 13, 2012     		38,300 (2019)
    SaintbarthelemySaint Barthelemy Saint Barthelemy Jan. 1, 1999 Oct 29, 2010 9,793 (2016)
    Saint-Pierre and MiquelonSaint Pierre and Miquelon Saint-Pierre and Miquelon Jan. 1, 1999 Dec 31, 1998 6,008 (2016)
    San MarinoSan Marino San Marino Jan. 1, 1999 Nov 29, 2000
    March 27, 2012     		34,590 (2019)
    Vatican cityVatican Vatican city Jan. 1, 1999 Dec. 29, 2000
    Dec. 17, 2009     		605 (2017)

    Several states and dependent territories outside the EU use the euro as their official currency. For an introduction that includes the right to mint your own coins, an agreement must be concluded with the EU and a country in the euro zone.

    Monaco, San Marino and Vatican City

    Until the introduction of the euro, these countries used their own currencies, which were linked to the currency of the neighboring country in a 1: 1 ratio and were in circulation there on an equal footing. San Marino and the Vatican had their currencies pegged to the Italian lira and Monaco used the Monegasque franc pegged to the French franc .

    These countries have agreements with the EU and the Member States: San Marino and the Vatican with Italy and Monaco with France, which allow them to use and mint a limited number of euro coins (with their own national motifs on the reverse). Your coins are valid throughout the euro area. However, they are not allowed to print banknotes.

    Andorra

    Andorra had de facto the French franc and the Spanish peseta as currency until January 1, 2002, the date when euro cash was introduced in the euro area , but never had an agreement with Spain or France . Negotiations with the European Union on the official status of the euro in Andorra started in 2004, but no agreement could be reached for years. Andorran banking secrecy was the biggest obstacle. Finally, on June 30, 2011, the currency agreement was signed, which came into force on April 1, 2012. It was not until November 20, 2013 that the Andorran government passed the decrees required under the currency agreement to implement European standards. At the beginning of December 2013, the EU gave the green light for the minting of Andorran euro coins, which were first issued on December 29, 2014. The right to mint has an annual volume of 2.4 million euros.

    Saint-Pierre and Miquelon, Mayotte

    Currency agreements were also concluded for two French overseas territories : Saint-Pierre and Miquelon off the coast of Canada and Mayotte in the Indian Ocean , which were not part of the EU when the euro was introduced, were nevertheless allowed to use the euro as currency from the start. However, you are not allowed to mint your own coins.

    Since Mayotte became the 101st department of France on March 31, 2011  and an overseas territory of the European Union on January 1, 2014 , it has officially been part of the euro area since then.

    Saint Barthélemy

    As of January 1, 2012, the French island of Saint Barthélemy is no longer part of the European Union as an Associated Overseas Territory ( OCT ) , but retains the euro as legal tender due to a treaty between France and the EU.

    Without any formal agreement

    State / Territory introduction takeover Residents
    United KingdomUnited Kingdom Akrotiri and Dekelia Jan. 1, 2008 informal 15,500 (2011)
    KosovoKosovo Kosovo Jan. 1, 2002 informal 1,798,506 (2018)
    MontenegroMontenegro Montenegro Jan. 1, 2002 informal 622,359 (2018)
    • With the introduction of the euro in the Republic of Cyprus, the British military bases Akrotiri and Dekelia , which used the Cyprus pound as their currency before the introduction of the euro , also adopted the euro as their currency. The military bases are overseas territories of the United Kingdom , but have never been part of the EU and are under military jurisdiction. Regardless of their case law, the introduction of the euro was carried out in accordance with the case law of the Republic of Cyprus.
    • Montenegro and Kosovo have been using the euro since its inception; before that, their currency was the German mark , which had replaced the Yugoslav dinar . When the D-Mark was replaced by the Euro, they took over the Euro through unilateral euroization . There is no agreement with the ECB on the use of the euro. In Kosovo there is also the Serbian dinar in circulation, which is used in areas with a predominantly Serbian population.
    The introduction of the euro in Montenegro and Kosovo brought economic benefits for the countries. For this reason, the Commissioner for Economic and Monetary Affairs Joaquín Almunia encouraged the introduction of the euro in small states. The then President of the European Central Bank Jean-Claude Trichet made it clear that the ECB - which does not support the unilateral introduction of the euro - sees no reasons for introducing the euro in other countries.

    States and territories that have pegged their currency to the euro

    African countries with currencies pegged to the euro (light blue) and African areas with euro (dark blue)

    Some countries have pegged their currency to the euro at a fixed exchange rate . In economic terms, this has similar effects to the unilateral introduction of the euro, but the continued existence of a nominally separate currency would make it easier to break this link in the event of a monetary policy reorientation.

    With Bulgaria a EU member state has tied its currency at a fixed exchange rate to the euro. The lev , the Bulgarian currency, was pegged to the German mark at a ratio of 1: 1 in 1999 , so that the currency today has a fixed exchange rate of 1.95583 BGN = 1 EUR. However, the introduction of the euro itself has so far failed due to Bulgarian inflation, which is too high to meet the EU convergence criteria . In addition, accession to Exchange Rate Mechanism II is a prerequisite for the introduction of the euro, which was announced on July 10, 2020.

    The Lithuanian litas was pegged to the US dollar from 1994 to 2002. In February 2002, before Lithuania joined the EU, this bond was changed to euros at a rate of EUR 1 = LTL 3.4528. As of January 1, 2015, Lithuania became the 19th member of the euro area.

    EU countries that have pegged their currency to the euro with certain exchange rate ranges

    Some EU member states have pegged their currency to the euro within a certain exchange rate range . They participate in a process whereby their central banks must intervene if the exchange rate deviates by more than a certain percentage from a previously established central rate . This is the so-called Exchange Rate Mechanism II (ERM II), which was introduced when the euro was introduced in 1999 as the successor to the European Monetary System founded in 1979 . A country's participation in ERM II for at least two years is a prerequisite for introducing the euro.

    From January 2015 to July 2020, only Denmark had its national currency linked to the euro via ERM II (fluctuation range: ± 2.25%). Bulgaria and Croatia were added in July 2020.

    With Greenland and the Faroe Islands, two non-EU members also indirectly participate in ERM II. In Greenland, the Danish krona is used, in the Faroe Islands the Faroese krona , which is linked 1: 1 to the Danish krona. On March 29, 2005, a statement by the Danish government made it clear that in the event of Denmark joining the euro zone, the Faroe Islands (analogous to Greenland) can keep the krona if they so choose. According to the will of the Sjálvstýrisflokkurin party, however, it could turn out the other way round: while the Danes were against joining the euro zone, the Faroe Islands applied to join in August 2009.

    Members of the Exchange Rate Mechanism II
    country currency ISO 4217 Central rate
    (1 EUR =)     		Guaranteed
    exchange rate range    		 ERM II accession Embargo period for
    euro introduction    		 (Planned)
    introduction of the euro
    BulgariaBulgaria Bulgaria Bulgarian lev BGN 1.95583 ± 15% (both sides) July 10, 2020 July 10, 2022 2022
    DenmarkDenmark Denmark Danish crown DKK 7.46038 ± 2.25% (both sides) January 1, 1999 expired no current plans
    CroatiaCroatia Croatia Croatian kuna HRK 7.53450 ± 15% (both sides) July 10, 2020 July 10, 2022 2022


    Non-EU countries that previously pegged their currency to the euro via exchange rate limits (Switzerland and Liechtenstein)

    From 2011 to 2015, Switzerland , together with Liechtenstein , which also uses the Swiss franc , used an independent way of preventing its own currency from strengthening too much.

    In view of the devaluation of the euro with the debt crisis , the rate, which  had fallen to 1 euro = CHF 1.0451 (August 10, 2011), was felt to be intolerable because it paralyzed Switzerland's exports. The Swiss National Bank  (SNB) subsequently set a minimum exchange rate on September 6, 2011, which is CHF 1.20. To achieve this, the franc was deliberately devalued by scooping up money and buying euros until the desired rate was reached. "The National Bank will enforce the minimum exchange rate with all consistency and is ready to buy unlimited foreign currency," announced the SNB. The aim is "a clear and permanent weakening of the Swiss franc". This measure was purely national and took place without any consultation with the ECB (and was therefore not an actual coupling). Switzerland had already supported the euro before, but gave up in 2010.

    On January 15, 2015, politics was abandoned again. The reason given was that the effort had grown due to the weak euro.

    Countries with unilateral exchange rate fluctuation limits to the euro
    country currency ISO 4217 Central rate
    (1 EUR =)     		criteria Period
    SwitzerlandSwitzerland Switzerland Liechtenstein
    LiechtensteinLiechtenstein      		Swiss franc CHF ≥ 1.20 Lower limit SNB September 6, 2011 to January 15, 2015

    States that have pegged their currency to the euro via a currency basket

    Various countries outside the European Union have tied the exchange rates of their currencies to currency baskets, in which the euro is involved alongside other currencies. This applies, for example, to the Moroccan dirham , whose exchange rate is 80% dependent on the euro and 20% on the US dollar .

    From 2004 until at least 2010, the Russian ruble was also pegged to a basket of currencies that was 45% dependent on the euro and 55% on the dollar.

    Similarly, the Chinese renminbi was already dependent on a basket of currencies that included the euro, albeit at a significantly lower level than the US dollar.

    The Special Drawing Right (SDR) of the International Monetary Fund is also linked to a currency basket in which the euro is represented (in addition to the US dollar, the Japanese yen and the British pound as additional currencies) in the period 2011 to 2016 with a weight of 37 , 4% and from October 2016 with 30.9%.

    Overview

    Comparison between the euro zone and the dollar zone
  • Members of the European Monetary Union with Euro
  • Other countries with euros
  • Currencies with a fixed exchange rate peg to the euro or currency baskets that are mostly dependent on the euro
  • Currencies with a narrow exchange rate range to the euro
  • United States of America
  • Other countries with US dollars
  • Currencies with a fixed exchange rate peg to the US dollar
  • Currencies with a narrow exchange rate range to the US dollar
    • category Residents Countries and territories
    EU members using the euro (Euro-19) 342 , 0 million Belgium, Germany, Estonia, Finland, France (including overseas territories belonging to the EU ), Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovakia, Slovenia, Spain and the Republic of Cyprus
    Other European countries and areas using the euro 2.6 million Andorra, Kosovo, Monaco, Montenegro, San Marino and Vatican City
    Non-EU areas outside Europe that use the euro 0.02 million Saint-Barthélemy , Saint-Pierre and Miquelon , French Southern and Antarctic Lands ( de jure , as only temporarily inhabited by station staff) and Clipperton Island ( de jure , as uninhabited), British 'sovereign base areas' Akrotiri and Dekelia
    EU members whose currency is firmly pegged to the euro 7.0 million Bulgaria
    Other European countries whose currency is tied to the euro 3.5 million Bosnia and Herzegovina
    African countries whose currency is firmly pegged to the euro 176 , 0million CFA franc BEAC / BCEAO : Benin , Burkina Faso , Cameroon , Central African Republic , Chad , Ivory Coast , Equatorial Guinea , Gabon , Guinea-Bissau , Mali , Niger , Republic of the Congo , Senegal and Togo
    1.6 million Cape Verde , Comoros and São Tomé and Príncipe
    Oceanic areas whose currency is firmly pegged to the euro 0.6 million CFP Franc : French Polynesia , New Caledonia and Wallis and Futuna
    EU members whose currency is pegged to the euro with exchange rate margins 10.0 million Denmark, Croatia
    total 543 , 0million 46 states and 8 territories

    Possible enlargements of the euro area

    Eurozone map
  • Euro zone (19)

  • EU members in ERM II , without opt-out (2)
  • EU member states that have to introduce the euro due to contractual obligations (5)

  • EU member state with an exit clause for the introduction of the euro (1)

  • Non-EU members who officially use the euro (Andorra, Monaco, San Marino and Vatican City, the two French overseas territories Saint-Pierre and Miquelon and Saint-Barthélemy, British military bases Akrotiri and Dekelia in Cyprus)

  • Non-EU members who use the euro unofficially (2)

    • Extensions via ERM II

    Of the 27 EU countries, 19 have introduced the euro as their currency, three countries (Bulgaria, Denmark and Croatia) are currently participating in ERM II. This leaves five countries as future candidates for participation in ERM II.

    Candidates for accession to the Exchange Rate Mechanism II
    country currency ISO 4217 Planning / assessments
    PolandPoland Poland Zloty PLN Joining in the medium term not planned; no opt-out
    RomaniaRomania Romania Romanian leu RON Euro accession planned for 2024 d. H. Accession to ERM II by 2022 at the latest
    SwedenSweden Sweden Swedish crown SEK Joining in the medium term not planned; no opt-out
    Czech RepublicCzech Republic Czech Republic Czech crown CZK Joining in the medium term not planned; no opt-out
    HungaryHungary Hungary Forints HOOF Joining in the medium term not planned; no opt-out

    With the exception of Denmark, all EU countries are obliged to introduce the euro and thus also to join ERM II beforehand. Before leaving the EU, the United Kingdom was also exempt from the obligation to join the euro and was never a participant in ERM II.

    A special case is the potential member Sweden , which until further notice is deliberately violating one of the convergence criteria. Although the other convergence criteria would allow the introduction of the euro, Sweden refuses membership in ERM II. It was announced that it would only want to introduce the euro after a positive referendum . Strictly speaking, this behavior violates the Maastricht Treaty as Sweden, unlike Denmark, does not have an official opt-out. Nevertheless, it is tacitly tolerated by the EU Commission, since the euro was only introduced in 1999, but Sweden joined the EU in 1995. However, the Commission has also indicated that for those countries which only joined the EU after 1999, the introduction of the euro was "part of the overall package" and an "unofficial opt-out" based on the Swedish model will therefore not be accepted would.

    Special case of the Turkish Republic of Northern Cyprus

    A special case is the Turkish Republic of Northern Cyprus , which regards itself as an independent state and officially uses the Turkish Lira , while from the EU's point of view it is part of the Republic of Cyprus and thus part of the Eurozone. In fact, both currencies are in use, with the euro being seen as a means of promoting intra-Cypriot trade and reducing dependence on Turkey .

    Scenarios for an exit from the euro zone

    As a result of the Greek sovereign debt crisis , there has been speculation since 2012 about a colloquial “ Grexit ”, ie Greece's exit from the euro zone. Entry into the euro zone is, however, "irrevocable" according to Art. 140 Para. 3 of the Treaty on the Functioning of the European Union .

    literature

    • Alexander Schellinger, Philipp Steinberg (ed.): The future of the euro zone. How we can save the euro and hold Europe together. transcript, Bielefeld 2016, ISBN 978-3-8376-3636-9 .

    Web links

    Wiktionary: Eurozone  - explanations of meanings, word origins, synonyms, translations
    Commons : Eurozone  - collection of pictures, videos and audio files

    Individual evidence

    1. ↑ The euro is there, the prosperity is missing. In: tagesschau.de . January 1, 2015, accessed January 1, 2015 .
    2. ↑ Countries, languages, currencies. In: Interinstitutional Rules for Publications. Publications Office of the European Union , accessed on 6 January 2011 .
    3. ↑ See EUabc.com: Eurozone .
    4. ↑ ECB: First cash changeover (2002)
    5. ^ ECB: The euro cash changeover in Slovenia
    6. ^ ECB: The euro cash changeover in Malta
    7. ↑ ECB: The euro cash changeover in the Republic of Cyprus
    8. ↑ ECB: The euro cash changeover in Slovakia
    9. ^ ECB: The euro cash changeover in Estonia
    10. ↑ Information from the municipality of Büsingen on the currency ( Memento from August 24, 2014 in the Internet Archive )
    11. ↑ Glossary: ​​Euro area enlargements , Eurostat, epp.eurostat.ec.europa.eu.
    12. ↑ a b c d e f g h i j k Population on January 1st (since 2008), Eurostat, epp.eurostat.ec.europa.eu.
    13. ↑ Euro area (changing composition) - HICP - Overall index, Annual rate of change, Eurostat, Neither seasonally or working day adjusted
    14. ↑ Currency agreement between the European Union and the Principality of Andorra (PDF; 778 kB), accessed on January 2, 2012.
    15. ↑ Amendment to the annex to the currency agreement between the European Union and the Principality of Andorra , accessed on July 22, 2016
    16. ↑ Monetary Agreement between the Government of the French Republic and the Government of His Highness the Prince of Monaco , accessed April 15, 2014
    17. ↑ Monetary Agreement between the European Union and the Principality of Monaco , accessed on April 14, 2014
    18. ↑ Monetary agreement between the EU and the French Republic on keeping the euro in Saint-Barthélemy , accessed on January 12, 2014
    19. ↑ a b c Legal populations of foreign collectivities in 2016 , INSEE; accessed on August 13, 2019.
    20. ↑ Statement of the ECB on the currency regime in the French areas of Saint-Pierre-et-Miquelon , accessed on January 12, 2014
    21. ↑ Monetary Agreement between the Republic of Italy and the Republic of San Marino , accessed April 15, 2014
    22. ↑ Monetary Agreement between the European Union and the Republic of San Marino , accessed on April 14, 2014
    23. ↑ Monetary Agreement between the Italian Republic and the Vatican City State, represented by the Holy See , accessed April 15, 2014
    24. ^ Currency Agreement between the European Union and the Vatican City State , accessed on April 14, 2014
    25. ↑ Vite da laici in Vaticano… , Corriere della Sera on June 4, 2017 (Italian); accessed on August 13, 2019.
    26. ^ The euro outside the euro area
    27. ↑ Official Journal of the European Union, October 5, 2012: Entry into force of the currency agreement with the Principality of Andorra (PDF; 604 KB), accessed on January 1, 2014.
    28. ^ Agreements concerning the French territorial communities
    29. ↑ Decision of the European Council of October 29, 2010 to change the status of the island of Saint-Barthélemy vis-à-vis the European Union (2010/718 / EU) , accessed on January 5, 2012
    30. ↑ Monetary Agreement between the European Union and the French Republic on the retention of the euro in Saint-Barthélemy after its status against the European Union , accessed on January 5, 2012
    31. ↑ a b c d The World Factbook , CIA; accessed on August 13, 2019.
    32. ↑ The Times , December 27, 2007: Euro reaches field that is for ever England
    33. ↑ International Herald Tribune , January 1, 2007: Euro used as legal tender in non-EU nations ( Memento of January 28, 2007 in the Internet Archive )
    34. ↑ KOUCHNER SIGNS REGULATION ON FOREIGN CURRENCY ( Memento from December 2, 2008 in the Internet Archive )
    35. ↑ Euro contenders: introduction of the euro in Bulgaria , accessed on August 20, 2007
    36. ↑ Euro wanted as currency in Faroe Islands. Retrieved March 26, 2011 .
    37. ↑ Uppskot til samtyktar um at taka upp samráðingar um treytir fyri evru sum føroyskt gjaldoyra. (PDF; 32 kB) Retrieved on March 26, 2011 (Faroese).
    38. ↑ http://www.ecb.int/stats/exchange/eurofxref/html/eurofxref-graph-chf.en.html
    39. ↑ Press release of the Swiss National Bank of September 7, 2011 (PDF; 57 kB), accessed on March 25, 2013.
    40. ↑ Central bank sets minimum exchange rate: Swiss francs pegged to euros , tagesschau.de, September 6, 2011; Quotes ibid
    41. ↑ End of minimum exchange rate: Swiss central bank drops the euro. In: Spiegel Online . January 15, 2015, accessed June 9, 2018 .
    42. ↑ L'Économiste , Comment le dirham est-il coté? .
    43. ↑ Online-artikel.de, January 15, 2010: About Moscow's dissatisfaction with the ruble exchange rate ( Memento of 23 January 2010 at the Internet Archive ).
    44. ↑ a b European Commission www.ec.europa.eu, accessed on December 1, 2010.
    45. ↑ Poland wants to stay out of the euro zone. In: newsburger.de. August 22, 2019. Retrieved August 25, 2019 .
    46. ↑ Government wants to introduce the euro by 2024. February 1, 2019, accessed on February 9, 2019 .
    47. ^ Stefan Menzel, Helmut Steuer, Matthias Thibaut: The Czech Republic and the Scandinavians resist. In: handelsblatt.com . December 29, 2010, accessed February 16, 2015 .
    48. ↑ Still no recommendation to introduce the euro. December 12, 2018, accessed July 11, 2020 .
    49. ↑ András Szigetvari: "Euro-accession not before 2020". In: derstandard.at . March 2, 2011, accessed February 16, 2015 .
    50. ↑ International Herald Tribune , In north Cyprus, the Turkish lira is the official currency, but euro is embraced ( Memento of December 8, 2008 in the Internet Archive )
    51. ↑ August 30, 2013, Münster: Workshop on “Parallel currencies to the euro” ( Memento from March 4, 2016 in the Internet Archive ) pdf 185 kB, accessed on May 23, 2015
    52. ↑ Jörg Haas: Risk Grexit: Caution when negotiating, policy paper No. 126 of the Jacques Delors Institute Berlin of February 16, 2015, p. 4 ( PDF ( Memento of July 1, 2015 in the Internet Archive ))