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A monetary agreement was eventually agreed to by Andorra and the EU in February 2011, [8] and the agreement was signed on 30 June 2011. [1] After the agreement came into force on 1 April 2012, [9] the euro became Andorra's official currency. Andorra would have been permitted to issue up to 2.4 million euro coins from 1 July 2013 onwards ...
The "Agreement between the European Economic Community and the Principality of Andorra" (signed 28 June 1990, entered into force 1 July 1991) establishes a customs union with most favoured nation status between the Principality and the EU. Andorra is treated as an EU state where trade in manufactured goods is concerned, but not for agricultural ...
The origin of the word Andorra is unknown, although several hypotheses have been proposed. The oldest is one put forward by the Greek historian Polybius (Histories III, 35, 1), who describes the Andosins, an Iberian Pre-Roman tribe, as historically located in the valleys of Andorra and facing the Carthaginian army in its passage through the Pyrenees during the Punic Wars.
At present, the euro is legal tender in 20 out of 27 European Union member states, [8] in addition to 6 countries not part of the EU (Monaco, San Marino, Vatican City, Andorra, Kosovo and Montenegro).
The name euro was officially adopted on 16 December 1995 in Madrid. [16] The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1 (US$1.1743 at the time). Physical euro coins and banknotes entered into circulation on 1 January 2002, making ...
Andorra, Monaco, and San Marino have all stated their desire to deepen relations with the EU. In November 2012, after the Council of the European Union had called for an evaluation of the EU's relations with these microstates, which they described as "fragmented", [9] the European Commission published a report outlining options for their further integration into the EU. [7]
Among non-EU member states, Andorra, Monaco, San Marino, and Vatican City have formal agreements with the EU to use the euro as their official currency and issue their own coins. [10] [11] [12] In addition, Kosovo and Montenegro have adopted the euro unilaterally, relying on euros already in circulation rather than minting currencies of their ...
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 ...