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The euro area, [8] commonly called the eurozone (EZ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro as their primary currency and sole legal tender, and have thus fully implemented EMU policies.
[3] [4] For countries which hope to join the eurozone, there are five guidelines that need to be followed, grouped in the Maastricht criteria. [1] The United Kingdom's currency, sterling, is rated fourth on Investopedia's list of the top 8 most tradable currencies, and that it is a "little bit more volatile than the euro". [5]
East: Pointe des Cascades, Sainte-Rose, Réunion, [1] France (55° 50′ 11″ E) Note that most overseas territories of EU member countries are not part of the European Union, and therefore do not count here. All of these territories are as well part of Eurozone and represent its extreme points.
Since there is no universal agreement on Europe's regional composition, the placement of individual countries may vary based on criteria being used. For instance, the Balkans is a distinct geographical region within Europe, but individual countries may alternatively be grouped into South-eastern Europe or Southern Europe.
This is a list of European Union regions (NUTS2 regions) sorted by their gross domestic product (GDP). Eurostat calculates the GDP based on the information provided by national statistics institutes affiliated to Eurostat.
The enlargement of the eurozone is an ongoing process within the European Union (EU).All member states of the European Union, except Denmark which negotiated an opt-out from the provisions, are obliged to adopt the euro as their sole currency once they meet the criteria, which include: complying with the debt and deficit criteria outlined by the Stability and Growth Pact, keeping inflation and ...
Outside the EU, there are currently three French territories and a British territory that have agreements to use the euro as their currency. All other dependent territories of eurozone member states that have opted not to be a part of EU, usually with Overseas Country and Territory (OCT) status, use local currencies which are often pegged to the euro or U.S. dollar.
The EU includes less than half of the territory of Europe. Significant parts of the continent especially in the east (e.g. European Russia, Ukraine, Belarus) and smaller parts in the north and centre are not part of the EU. The member states of the EU have land borders with 21 other countries and 3 dependent territories.