The use of the euro in the world

Circulation

The euro circulates in the euro area, currently comprising 15 Member States of the European Union (Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal, Finland, Slovenia, Malta and Cyprus).

Certain parts of the euro area are located outside the European continent, such as the four French overseas departments (Guadeloupe, French Guyana, Martinique and Réunion), as well as Madeira, the Canary Islands etc.

The euro also circulates outside the European Union:

• Third countries having adopted the euro as their national currency: Monaco, the Vatican City and San Marino

• Overseas territories where the euro is official currency: Saint-Pierre-et-Miquelon and Mayotte

• Countries and territories with euro as de facto currency: Andorra, Kosovo and Montenegro

Links with other currencies

Several countries and territories have linked their currencies to the euro through different types of agreements. Some of these agreements were concluded with the EU, while others are unilateral.

• Exchange Rate Mechanism II (ERM II): Denmark, Estonia, Cyprus, Latvia, Lithuania, Malta and Slovenia

• Bilateral exchange-rate agreements: CFP franc area, CFA franc area, Comoros Islands and Cape Verde

• Unilateral exchange rate regimes involving the euro: Bosnia, Botswana, Bulgaria, Croatia, Czech Republic, FYR Macedonia, Herzegovina, Hungary, Israel, Jordan, Lybia, Morocco, Romania, Russia, Serbia, Seychelles, Slovakia, Tunisia and Vanuatu

Related documents

• Survey on the use of the euro cash in the world

• Communication from the Commission. EMU after five years