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Guides on the EU's common currency, the Euro.
EMU and the euro - guide
The euro is a resounding success, says the European Commission today. The protection provided by an international currency with a market of nearly 320 million people, supported by sound public finances and stable macroeconomic policies, is particularly welcome in these times of uncertainty and worrying increases in the prices of energy and food. But as we complete 10 years of Economic and Monetary Union (EMU), the Commission says we must acknowledge that there is still work to be done. The euro area’s governance and coordination of economic policies must be improved. This will involve both deepening and broadening economic surveillance arrangements to guide fiscal policy over the cycle and in the long term and, at the same time, address divergences in growth, inflation and competitiveness. We also need to better project our voice in the global arena, to reflect the euro’s weight as an international currency used well beyond its borders. Only then will the benefits of the single currency become fully apparent to the citizens of the euro area.
The United Kingdom and the euro
The United Kingdom joined the European Union in 1973. It has negotiated an 'opt-out' from the euro and is thus not obliged to introduce it.
Sweden and the euro
Sweden joined the European Union in 1995 and has not yet adopted the euro, but in accordance with the Treaty it will do so once it meets the necessary conditions.
Finland and the euro
Finland joined the European Union in 1995 and was one of the first-wave EU countries to adopt the euro on 1 January 1999.
Slovakia and the euro
Slovakia joined the European Union in 2004 and has aspirations to adopt the euro in 2009.
Slovenia and the euro
Slovenia joined the European Union in 2004 and, on 1 January 2007, became the first of the new EU countries to adopt the euro.
Romania and the euro
Romania joined the European Union on 1 January 2007 and has committed to adopt the euro once it fulfils the necessary conditions.
Portugal and the euro
Portugal joined the European Union in 1986 and was one of the first-wave EU countries to adopt the euro on 1 January 1999.
Poland and the euro
Poland joined the European Union in 2004 and is currently preparing to adopt the euro.
Austria and the euro
Austria joined the European Union in 1995 and was in the first wave of EU countries to adopt the euro on 1 January 1999.
The Netherlands and the euro
The Netherlands is a founding member of the European Union and was one of the first-wave EU countries to adopt the euro on 1 January 1999.
Malta and the euro
Malta joined the European Union in 2004 and adopted the euro on 1 January 2008.
Hungary and the euro
Hungary joined the European Union in 2004 and is currently preparing to adopt the euro.
Luxembourg and the euro
Luxembourg is a founding member of the European Union and was one of the first-wave EU countries to adopt the euro on 1 January 1999.
Lithuania and the euro
Lithuania joined the European Union in 2004 and is currently preparing to adopt the euro.
Latvia and the euro
Latvia joined the European Union in 2004 and is currently preparing to adopt the euro.
Cyprus and the euro
Cyprus joined the European Union in 2004 and adopted the euro on 1 January 2008.
Italy and the euro
Italy is a founding member of the European Union and was one of the first-wave EU countries to adopt the euro on 1 January 1999.
France and the euro
France is a founding member of the European Union and was one of the first-wave EU countries to adopt the euro on 1 January 1999.
Spain and the euro
Spain joined the European Union in 1986 and was in the first-wave EU countries to adopt the euro on 1 January 1999.