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EURO INFORMATION
 

The Euro (currency sign: €; banking code: EUR) is the official currency of the European Union member states of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain - also known as the Eurozone. The currency is also used in a further six European countries, with and without formal agreements, and is consequently used daily by some 327 million Europeans. Over 175 million people worldwide use currencies which are pegged to the euro, including more than 150 million people in Africa.

The name euro was officially adopted on 16 December 1995 and was introduced to world financial markets as an accounting currency in 1 January 1999 and launched as physical coins and banknotes in 1 January 2002. On 1 December 2009 the Treaty of Lisbon entered into force, and with it the euro became the official currency of the European Union. All EU member states are eligible to join if they comply with certain monetary requirements, and eventual use of the euro is mandatory for all new EU members.

The euro is managed and administered by the Frankfurt-based European Central Bank (ECB) and the European System of Central Banks (ESCB) (composed of the central banks of its member states). As an independent central bank, the ECB has sole authority to set monetary policy. The ESCB participates in the printing, minting and distribution of notes and coins in all member states, and the operation of the Eurozone payment systems.

Current member states and dates of entry into the European Union

The European Union's 28 member states cover an area of 4,324,782 square kilometers (1,669,808 square miles) and have approximately 510 million inhabitants as of December 2016 The European Union's member states if combined would represent the world's largest economy by GDP, the seventh largest territory in the world by area and the third largest by population. The EU describes itself as a "a family of democratic European countries".

 

European Union Map

Date
History of countries' membership
Members
25 March 1957
Belgium, France, West Germany, Italy, Luxembourg, Netherlands, founding members
6
1 January 1973
Denmark, Ireland, United Kingdom
9
1 January 1981
Greece
10
1 January 1985
Greenland withdrew after gaining home rule from Denmark
10
1 January 1986
Portugal, Spain
12
3 October 1990
The territory of the former German Democratic Republic as part of unified Germany also becomes part of the European Community
12
1 January 1995
Austria, Finland, Sweden
15
1 May 2004
Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, Slovenia
25
1 January 2007
Bulgaria, Romania
27
1 July 2013
Croatia
28

 

Countries using the Euro

Country Map where Euro Currency is used

 
 
European Union Flag
 
Euro Symbol Standard
 

 
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