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The monetary policy of all countries in the eurozone is managed by the European Central Bank (ECB) and the Eurosystem which comprises the ECB and the central banks of the EU states who have joined the eurozone. Countries outside the eurozone are not represented in these institutions.
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.
This includes all member states of the EU, even those outside the eurozone providing the transactions are carried out in euro. [49] Credit/debit card charging and ATM withdrawals within the eurozone are also treated as domestic transactions; however paper-based payment orders, like cheques, have not been standardised so these are still domestic ...
The relationship between euro and non-euro states has been on debate both during the United Kingdom's membership (as a large opt-out state) and in light of withdrawal from the EU and how that impacts the balance of power between the countries inside and those outside the eurozone, avoiding a eurozone caucus out-voting non-euro states. Former ...
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 ...
The change was made to facilitate trade with countries outside the EU, notably the United States, [32] and was made possible by a provision of the Lisbon Treaty which allows the European Council to change the EU status of a Danish, Dutch, or French territory on the initiative of the member state concerned. [33]
Toggle Potential member states and EU territories outside the Schengen Area subsection. 3.1 Prospective members. 3.1.1 Cyprus. 3.1.2 Gibraltar. ... Eurozone since 2015.
The territories of the member states of the European Union (European Communities pre-1993), animated in order of accession. Territories outside Europe and its immediate surroundings are not shown. The European Union (EU) has expanded a number of times throughout its history by way of the accession of new member states to the Union.