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What currency does the EU use?

Currently, the euro (€) is the official currency of 20 out of 27 EU member countries which together constitute the Eurozone, officially called the euro area. In order to join the euro area, EU member states are required to fulfil so-called ' convergence criteria '.

Which EU countries have adopted the Euro?

The euro is the currency of 20 EU Member States. Denmark has ‘opt-out’ clauses in the Treaty exempting him from participation, while the remainder have yet to meet the conditions for adopting the single currency. Austria joined the European Union in 1995 and was one of the first countries to adopt the euro on 1 January 1999.

When does the Euro become a currency?

On January 1, Euro banknotes and coins are introduced in 12 EU countries, replacing their national currencies. The Euro becomes the official currency for the participating member states. New countries join the Eurozone, including Slovenia (2007), Cyprus (2008), and Malta (2008).

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