A List Of Countries That Use The Euro In 2023

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A List Of Countries That Use The Euro In 2023

Are you planning a trip to Europe in 2023 and want to know what currency you need? Or do you simply want to keep up-to-date with the latest global financial trends? If so, then this post is for you!

The euro has become one of the most widely used currencies in the world, and knowing which countries use it can be incredibly useful. In this article, we’ll give you a complete list of all the countries that currently use the euro and provide some valuable insights into what this means for travelers, investors, and more. So grab yourself a cup of coffee, sit back, and read on – because by the end of this post, you’ll be an expert on everything euro-related!

Euros – What Are They

How to save money as an expat_Euro

The euro is the official currency of 20 out of 27 European Union member countries. It was introduced in 1999 and has since grown to be one of the world’s most traded currencies. Countries that use the euro are called the Eurozone.

When the euro was first created, it was only used by 12 countries. Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain all adopted the euro as their official currency on January 1999. Slovenia joined in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014, Lithuania in 2015, and Croatia in 2023.

There are currently 20 European Union member countries that use the euro as their official currency: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy*, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain.

When Was Euro First Used? And By Which Country

The euro first came into use in 1999, when it was introduced by eleven member states of the European Union. These countries were Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. Greece later joined in 2001.

List Of European Countries Using The Euro

Euros in Croatia - Currency in Croatia

As of January 2023, there are 20 EU member states that use the euro as their official currency. Croatia was the most recent; they joined in January 2023.

  • Austria
  • Belgium
  • Croatia
  • Cyprus
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Ireland
  • Italy
  • Latvia
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands
  • Portugal
  • Slovakia
  • Slovenia
  • Spain

List Of Non-EU Countries Using The Euro

Andorra, Kosovo, Monaco, Montenegro, San Marino, and Vatican City also use the euro; however, these states are not members of the European Union.

Note:

  • Kosovo declared independence from Serbia in 2008 and is not recognized as an independent state by five UN member states. It uses the euro as its official currency pursuant to an International Monetary Fund arrangement
  • Monaco and San Marino have customs union agreements with the EU whereby they use EU VAT rates, and exchange control regulations apply. Both countries mint their own coins with designs similar to those of the euro coins used in other countries
  • Montenegro has been using the euro since 2002, it began to issue its own coins since 2018
  • The Vatican City has a special agreement with the EU whereby it uses euros as its official currency and receives an annual subsidy from the EU budget

What Countries Are A Part Of The European Union (EU)

There are 27 member states of the European Union. These countries are Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal , Romania , Slovakia , Slovenia , Spain and Sweden .

The euro is the official currency of 20 of these 27 member states. The other 7 member states have chosen to keep their own national currencies and have not yet adopted the euro. These countries are Bulgaria, Czech Republic , Denmark , Hungary , Poland , Romania and Sweden .

Are There Countries Using The Euro Who Are Not In The EU

There are a number of countries that use the euro as their currency but are not members of the European Union. These countries are known as the Eurozone and include Monaco, Montenegro, San Marino, Vatican City, and Andorra. There are also a number of places that have entered into monetary agreements with the EU in order to use the euro as their official currency. These places include Kosovo, Montenegro, and San Marino.

Why Are Some Countries In The Eu Not Using The Euro As The Currency – Who Are They

From Brasov to Bran Castle - Europe, Transylvania, Romania, 13th century Castle Bran
Romania

There are a number of reasons why some countries in the EU have not adopted the euro as their currency. Some of these countries, like Denmark, have opt-outs from the monetary union. Other countries, like Sweden, have chosen not to join the eurozone despite being eligible to do so.

The main reason why some countries have not adopted the euro is that they believe that it would be detrimental to their economy. These countries are concerned that they would lose control over their monetary policy and interest rates if they were to adopt the euro. Additionally, many of these countries have strong economies and don’t feel pressure to switch to the euro. For example, Sweden has one of the strongest economies in Europe, and its currency, the Swedish krona, is very stable.

So far, only 20 out of 27 EU member states have adopted the euro as their currency. This means that there are still eight EU countries that are using their own national currencies. These include:

  • Bulgaria
  • Czech Republic
  • Denmark
  • Hungary
  • Poland
  • Romania
  • Sweden

What Country Will Next Adopt The Euro As The Local Currency

This is a difficult question to answer, as there are a number of factors that need to be considered before a country can adopt the euro as its local currency. Some of these factors include:

  • The country’s economic stability
  • The country’s political stability
  • The country’s inflation rate
  • The country’s trade deficit or surplus
  • The country’s interest rates

There is no definite answer as to which country will be the next to adopt the euro as its local currency. However, it is believed that it would next be Bulgaria. The euro is targeted to be introduced in January 2025, leaving behind the “Lev” making the euro Bulgaria’s second currency after more than 140 years.

What Country Will Next Join The European Union (EU)

Things to do in Gabrovo, Bulgaria - Traditional houses in Etar open air museum near Gabrovo
Bulgaria

It is widely expected that the next country to join the European Union will be North Macedonia. This follows the recent signing of the Prespa agreement between Greece and North Macedonia, which settled a long-standing dispute over the latter’s name.

Other potential candidates for EU membership include Albania, Bosnia and Herzegovina, Kosovo, Montenegro, Serbia, and Turkey. All these countries are currently in various stages of negotiations or pre-accession processes with the EU.

Now that you have this list of countries that use the euro – which countries will you visit in 2023?

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