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All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here. In Europe, the most commonly used currency is the euro (used by 26 countries); any country entering the European Union (EU) is expected to join the eurozone [1] when they meet the five convergence criteria. [2]
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. The 20 eurozone members are:
The euro is the result of the European Union's project for economic and monetary union that came fully into being on 1 January 2002 and it is now the currency used by the majority of the European Union's member states, with all but Denmark (which has an opt-out in the EU treaties) bound to adopt it.
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 ...
Beginning in 2007 or 2008 (depending on the country), the old map was replaced by a map of Europe also showing countries outside the EU. [34] The 1-, 2- and 5-cent coins, however, keep their old design, showing a geographical map of Europe with the EU member states as of 2002, raised somewhat above the rest of the map.
The European Union membership referendum in 2003 approved the country's accession with 77.3% in favour, and in 2004 the Czech Republic joined the EU. [6]Since joining the EU in May 2004, the Czech Republic has adopted fiscal and monetary policies that aim to align its macroeconomic conditions with the rest of the European Union.
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According to a survey conducted in April 2014, only 16% of the Czech population was in favour of replacing the koruna with the euro. [7] As reported by an April 2018 survey by CVVM (Public Opinion Research Center), this value has remained at nearly identical levels over the past four years [ specify ] , with only 20% of the Czech population ...