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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 '.

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).

What is the official currency of the Eurozone?

The Euro becomes the official currency for the participating member states. New countries join the Eurozone, including Slovenia (2007), Cyprus (2008), and Malta (2008). The Lisbon Treaty formalizes the Euro’s status and makes the Euro the official currency of the Eurozone.

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