Denmark, Britain, Sweden, Poland, Hungary, Czech Republic, Slovenia and Romania do not use the euro.

The euro zone refers to the EU countries that use the single currency of the European Union. 1 999 65438+1October1,EU countries began to implement the single currency euro, and unified monetary policies were implemented in countries that implemented the euro.

In July 2002, the euro became the only legal tender in the euro zone. The euro zone has 19 member countries, including Germany, France, Italy, Netherlands, Belgium, Luxembourg, Ireland, Spain, Portugal, Austria, Finland, Lithuania, Latvia, Estonia, Slovakia, Slovenia, Greece, Malta and Cyprus, with a population of over 330 million. Affected by the European debt crisis, the euro zone economy has been declining since 2008. 20 12, 1018 October, the European Stability Mechanism (ESM) was launched to provide loans to debt-ridden sovereign countries in the euro zone.

The euro zone * * * has 19 members, and nine other countries and regions adopt the euro as the local single currency. However, as a competitor of the US dollar as the world's reserve currency, the circulation of the euro is not limited to the above areas.

The euro is the most significant achievement of European monetary reform since the Roman Empire. The euro not only makes the European single market more perfect, but also facilitates the free trade among the countries in the euro zone, which is an important part of the EU integration process.

Although Monaco, San Marino and Vatican are not EU countries, they used to use French francs or Italian lira as their currencies, and they also used euros, and authorized to mint a small number of their own euro coins. Some non-EU countries and regions, such as Montenegro, Kosovo and Andorra, also use the euro as a payment tool.

The euro is managed by european system of central banks, which is composed of the European Central Bank and the central banks of the euro zone countries. The European Central Bank, headquartered in Frankfurt, Germany, has the power to independently formulate monetary policy. The central banks of euro zone countries participate in the printing, casting and distribution of euro banknotes and coins, and are responsible for the operation of the euro zone payment system.

Extended data

Countries that officially use the euro are: Germany, France, Italy, Netherlands, Belgium, Luxembourg, Ireland, Spain, Portugal, Austria, Finland, Lithuania, Latvia, Estonia, Slovakia, Slovenia, Greece, Malta and Cyprus. The overseas territories of some euro-zone countries, such as French Guiana, reunion island, St. Pierre Island, Miquelon Islands and Martinique, also use the euro.

Monaco used to use French francs, San Marino and Vatican used to use Italian lira, but they have been replaced by the euro. According to their agreement with the EU, they can also mint euro coins on behalf of the EU.

Andorra used to use French francs and Spanish pesetas, while Montenegro and Kosovo used German marks. After the above-mentioned currencies were replaced by the euro, these countries changed to the euro as the real currency, but they did not have any legal agreement with the European Union or participate in the European Central Bank system. In June 5438 +2004 10, Andorra began to negotiate an agreement with the European Union, allowing Andorra to cast euros like Monaco, San Marino and the Vatican.

From June 5438 to February 2002, North Korea replaced the dollar with the euro as the main currency for external circulation and settlement. In most black markets and shops that used to use dollars, dollars have also been replaced by euros.

Generally speaking, the euro is the official currency of 23 countries and regions, and the exchange rates of official currencies of 28 countries and regions are linked to the euro.

The euro has become an absolute dark horse in the 20 13 foreign exchange market. The euro rose more than 4% against the US dollar during the year, making it the currency with the highest increase.

On 20 14 65438+ 10 1, Latvian Prime Minister dombrowski took out Latvia's first euro note at an ATM in Riga city center. On that day, Latvia officially became the18th member of the euro zone.

Reference source: Baidu Encyclopedia-Europe