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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.
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 ...
Countries and territories using the Euro de facto . EU member states that are outside the Eurozone. ... Eurozone: Image title: A map of Europe highlighting the ...
Several eurozone member states (Greece, Portugal, Ireland and Cyprus) were unable to repay or refinance their government debt or to bail out fragile banks under their national supervision without the assistance of other eurozone countries, the European Central Bank (ECB), or the International Monetary Fund (IMF).
Also included is the number of unique sovereign states [a] that a country or territory shares as neighbors. If the number is higher due to multiple dependencies or unrecognized states bordering the state, the larger number is shown in brackets. Footnotes are provided to provide clarity regarding the status of certain countries and territories.
The European Free Trade Association (EFTA) was created to allow European countries to partake in a free trade area with less integration as within the European Communities (later European Union). Most of the countries initially in EFTA have since joined the EU itself, so only four remain outside, Norway, Iceland, Liechtenstein and Switzerland.
Latitude Locations 90° N North Pole: 75° N: Arctic Ocean; Russia; northern Canada; Greenland: 60° N: Oslo, Norway; Helsinki, Finland; Stockholm, Sweden; major parts of Nordic countries in EU; St. Petersburg, Russia; southern Alaska United States; southern border of the Yukon and the Northwest territories in Canada; Shetland, UK (Scotland)
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 ...