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Denmark is the only EU member state which has been granted an exemption from using the euro. [1] Czechia, Hungary, Poland, Romania and Sweden have not adopted the Euro either, although unlike Denmark, they have not formally opted out; instead, they fail to meet the ERM II (Exchange Rate Mechanism) which results in the non-use of the Euro.
The dinar (Serbian: динар, pronounced; paucal: dinara / динара; abbreviation: DIN and дин (); code: RSD) is the currency of Serbia.The dinar was first used in Serbia in medieval times, its earliest use dating back to 1214.
Kosovo is a potential candidate for joining the European Union. The European Commission and the European Central Bank have voiced their discontent over countries unilaterally adopting the euro on several occasions in the past, [12] and it is unclear whether Kosovo would be able to accede to the EU while using the euro.
Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica Grenada
Several European microstates outside the EU have adopted the euro as their currency. For EU sanctioning of this adoption, a monetary agreement must be concluded. Prior to the launch of the euro, agreements were reached with Monaco, San Marino, and Vatican City by EU member states (Italy in the case of San Marino and Vatican City, and France in the case of Monaco) allowing them to use the euro ...
In March 2021, the European Parliament adopted a report on Serbia, which, amongst other things, emphasized that the normalization of relationships between Serbia and Kosovo is "a priority and a requirement for EU accession."
The euro is also used in countries outside the EU. Four states (Andorra, Monaco, San Marino, and Vatican City) have signed formal agreements with the EU to use the euro and issue their own coins. [29] [30] Nevertheless, they are not considered part of the eurozone by the ECB and do not have a seat in the ECB or Euro Group.
Since then, however, the European Commission and the ECB have expressed dissatisfaction with Montenegro's unilateral use of the euro, with European Commission spokesperson Amelia Torres saying in 2007 that "The conditions for the adoption of the euro are clear. That means, first and foremost, to be a member of the EU."