CINXE.COM

<!DOCTYPE html> <html lang="en" dir="ltr" prefix="og: https://ogp.me/ns#"> <head> <meta charset="utf-8" /> <meta name="description" content="The euro area consists of those Member States of the European Union that have adopted the euro as their currency." /> <meta name="keywords" content="euro area" /> <meta http-equiv="content-language" content="en" /> <link rel="canonical" href="https://economy-finance.ec.europa.eu/euro/what-euro-area_en" /> <meta property="og:determiner" content="auto" /> <meta property="og:site_name" content="Economy and Finance" /> <meta property="og:type" content="website" /> <meta property="og:url" content="https://economy-finance.ec.europa.eu/euro/what-euro-area_en" /> <meta property="og:title" content="What is the euro area?" /> <meta property="og:description" content="The euro area consists of those Member States of the European Union that have adopted the euro as their currency." /> <meta name="twitter:card" content="summary_large_image" /> <meta name="twitter:title" content="What is the euro area?" /> <meta name="twitter:description" content="The euro area consists of those Member States of the European Union that have adopted the euro as their currency." /> <meta name="twitter:url" content="https://economy-finance.ec.europa.eu/euro/what-euro-area_en" /> <meta property="og:image" content="https://economy-finance.ec.europa.eu/profiles/contrib/ewcms/modules/ewcms_seo/assets/images/ec-socialmedia-fallback.png" /> <meta property="og:image:alt" content="Economy and Finance" /> <meta name="twitter:image" content="https://economy-finance.ec.europa.eu/profiles/contrib/ewcms/modules/ewcms_seo/assets/images/ec-socialmedia-fallback.png" /> <meta name="twitter:image:alt" content="Economy and Finance" /> <meta http-equiv="X-UA-Compatible" content="IE=edge,chrome=1" /> <meta name="Generator" content="Drupal 10 (https://www.drupal.org)" /> <meta name="MobileOptimized" content="width" /> <meta name="HandheldFriendly" content="true" /> <meta name="viewport" content="width=device-width, initial-scale=1.0" /> <script type="application/json">{"service":"etrans","renderAs":false,"user":"Economy and Finance","exclude":".ecl-site-header__language-item,.ecl-site-header__language-selector,.toolbar","languages":{"source":"en","available":["en"]},"config":{"live":false,"mode":"lc2023","targets":{"receiver":"#webtools-etrans"}}}</script> <script type="application/json">{"service":"preview","position":"before"}</script> <link rel="icon" href="/profiles/contrib/ewcms/themes/ewcms_theme/images/favicons/ec/favicon.ico" type="image/vnd.microsoft.icon" /> <link rel="alternate" hreflang="en" href="https://economy-finance.ec.europa.eu/euro/what-euro-area_en" /> <link rel="icon" href="/profiles/contrib/ewcms/themes/ewcms_theme/images/favicons/ec/favicon.svg" type="image/svg+xml" /> <link rel="apple-touch-icon" href="/profiles/contrib/ewcms/themes/ewcms_theme/images/favicons/ec/favicon.png" /> <title>What is the euro area? - European Commission</title> <link rel="stylesheet" media="all" href="/sites/default/files/css/css_ndn2VPnneKUMNrIqpaTgO9zVQfIiWEwAb0HeCQUs3BU.css?delta=0&language=en&theme=ewcms_theme&include=eJxtjFEKAyEMRC8k65EkalqlMYZEab19pWxZCv0b5s2bjmEUbOhTb9IZeQSqUUFXwORs2cDmIxi6_l2KVh4On6nZ2dwqUg74GqgMFGrq_MPPvKTfFaSsP3ArYx_MrVPlhzkBhc_afNYpQMfVHJNlRqpWML8BGBJNDQ" /> <link rel="stylesheet" media="all" href="/sites/default/files/css/css_5ztx5jHlUuQy82H1Z2aRp1Ic8aB_dHED5-CU606pn9s.css?delta=1&language=en&theme=ewcms_theme&include=eJxtjFEKAyEMRC8k65EkalqlMYZEab19pWxZCv0b5s2bjmEUbOhTb9IZeQSqUUFXwORs2cDmIxi6_l2KVh4On6nZ2dwqUg74GqgMFGrq_MPPvKTfFaSsP3ArYx_MrVPlhzkBhc_afNYpQMfVHJNlRqpWML8BGBJNDQ" /> <link rel="stylesheet" media="print" href="/sites/default/files/css/css_WS8Je2qEjZ6C-579zBT71IfYyF1qkpW2-4yMR4bLsoU.css?delta=2&language=en&theme=ewcms_theme&include=eJxtjFEKAyEMRC8k65EkalqlMYZEab19pWxZCv0b5s2bjmEUbOhTb9IZeQSqUUFXwORs2cDmIxi6_l2KVh4On6nZ2dwqUg74GqgMFGrq_MPPvKTfFaSsP3ArYx_MrVPlhzkBhc_afNYpQMfVHJNlRqpWML8BGBJNDQ" /> <link rel="stylesheet" media="all" href="/sites/default/files/css/css_74uzi7_kXasltRWRllNFcxNS8zuO9tw4lGszBfDKEm0.css?delta=3&language=en&theme=ewcms_theme&include=eJxtjFEKAyEMRC8k65EkalqlMYZEab19pWxZCv0b5s2bjmEUbOhTb9IZeQSqUUFXwORs2cDmIxi6_l2KVh4On6nZ2dwqUg74GqgMFGrq_MPPvKTfFaSsP3ArYx_MrVPlhzkBhc_afNYpQMfVHJNlRqpWML8BGBJNDQ" /> <link rel="stylesheet" media="print" href="/sites/default/files/css/css_gnamfgoEXELcpIXGWH-_INptyizhirab2ChTm11wzoM.css?delta=4&language=en&theme=ewcms_theme&include=eJxtjFEKAyEMRC8k65EkalqlMYZEab19pWxZCv0b5s2bjmEUbOhTb9IZeQSqUUFXwORs2cDmIxi6_l2KVh4On6nZ2dwqUg74GqgMFGrq_MPPvKTfFaSsP3ArYx_MrVPlhzkBhc_afNYpQMfVHJNlRqpWML8BGBJNDQ" /> <link rel="stylesheet" media="all" href="/sites/default/files/css/css_TNTxleRBc2BVrKE7v6m5_tlOASBY-JGGPJ3HI-ZpXGg.css?delta=5&language=en&theme=ewcms_theme&include=eJxtjFEKAyEMRC8k65EkalqlMYZEab19pWxZCv0b5s2bjmEUbOhTb9IZeQSqUUFXwORs2cDmIxi6_l2KVh4On6nZ2dwqUg74GqgMFGrq_MPPvKTfFaSsP3ArYx_MrVPlhzkBhc_afNYpQMfVHJNlRqpWML8BGBJNDQ" /> </head> <body class="language-en ecl-typography path-node page-node-type-landing-page"> <a href="#main-content" class="ecl-link ecl-link--primary ecl-skip-link" id="skip-id" >Skip to main content</a> <div id="cck_here"></div> <script type="application/json">{"utility":"globan","theme":"light","logo":true,"link":true,"mode":false}</script> <div class="dialog-off-canvas-main-canvas" data-off-canvas-main-canvas> <header class="ecl-site-header " data-ecl-auto-init="SiteHeader" > <div class="ecl-site-header__header"> <div class="ecl-site-header__background"> <div class="ecl-site-header__header"> <div class="ecl-site-header__container ecl-container"> <div class="ecl-site-header__top" data-ecl-site-header-top> <a class="ecl-link ecl-link--standalone ecl-site-header__logo-link" href="https://commission.europa.eu/index_en" aria-label="Home - European Commission" data-aria-label-en="Home - European Commission" > <picture class="ecl-picture ecl-site-header__picture" title="European Commission" ><source srcset="/themes/contrib/oe_theme/dist/ec/images/logo/positive/logo-ec--en.svg" media="(min-width: 996px)" ><img class="ecl-site-header__logo-image" src="/themes/contrib/oe_theme/dist/ec/images/logo/logo-ec--mute.svg" alt="European Commission logo" ></picture> </a> <div class="ecl-site-header__action"> <div class="ecl-site-header__language"><a class="ecl-button ecl-button--tertiary ecl-site-header__language-selector" href="https://economy-finance.ec.europa.eu/euro/what-euro-area_en" data-ecl-language-selector role="button" aria-label="Change language, current language is English - en" aria-controls="language-list-overlay" ><span class="ecl-site-header__language-icon"><svg class="ecl-icon ecl-icon--s ecl-site-header__icon" focusable="false" aria-hidden="false" role="img"><title >en</title><use xlink:href="/themes/contrib/oe_theme/dist/ec/images/icons/sprites/icons.svg#global"></use></svg></span>en</a><div class="ecl-site-header__language-container" id="language-list-overlay" hidden data-ecl-language-list-overlay aria-labelledby="ecl-site-header__language-title" role="dialog"><div class="ecl-site-header__language-header"><div class="ecl-site-header__language-title" id="ecl-site-header__language-title" >Select your language</div><button class="ecl-button ecl-button--tertiary ecl-site-header__language-close ecl-button--icon-only" type="submit" data-ecl-language-list-close ><span class="ecl-button__container"><span class="ecl-button__label" data-ecl-label="true">Close</span><svg class="ecl-icon ecl-icon--m ecl-button__icon" focusable="false" aria-hidden="true" data-ecl-icon><use xlink:href="/themes/contrib/oe_theme/dist/ec/images/icons/sprites/icons.svg#close"></use></svg></span></button></div><div class="ecl-site-header__language-content" data-ecl-language-list-content ><div class="ecl-site-header__language-category" data-ecl-language-list-eu><ul class="ecl-site-header__language-list"><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_bg" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="bg" ><span class="ecl-site-header__language-link-code">bg</span><span class="ecl-site-header__language-link-label" lang="bg">български</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_es" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="es" ><span class="ecl-site-header__language-link-code">es</span><span class="ecl-site-header__language-link-label" lang="es">español</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_cs" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="cs" ><span class="ecl-site-header__language-link-code">cs</span><span class="ecl-site-header__language-link-label" lang="cs">čeština</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_da" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="da" ><span class="ecl-site-header__language-link-code">da</span><span class="ecl-site-header__language-link-label" lang="da">dansk</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_de" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="de" ><span class="ecl-site-header__language-link-code">de</span><span class="ecl-site-header__language-link-label" lang="de">Deutsch</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_et" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="et" ><span class="ecl-site-header__language-link-code">et</span><span class="ecl-site-header__language-link-label" lang="et">eesti</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_el" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="el" ><span class="ecl-site-header__language-link-code">el</span><span class="ecl-site-header__language-link-label" lang="el">ελληνικά</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_en" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link ecl-site-header__language-link--active" hreflang="en" ><span class="ecl-site-header__language-link-code">en</span><span class="ecl-site-header__language-link-label" lang="en">English</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_fr" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="fr" ><span class="ecl-site-header__language-link-code">fr</span><span class="ecl-site-header__language-link-label" lang="fr">français</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_ga" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="ga" ><span class="ecl-site-header__language-link-code">ga</span><span class="ecl-site-header__language-link-label" lang="ga">Gaeilge</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_hr" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="hr" ><span class="ecl-site-header__language-link-code">hr</span><span class="ecl-site-header__language-link-label" lang="hr">hrvatski</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_it" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="it" ><span class="ecl-site-header__language-link-code">it</span><span class="ecl-site-header__language-link-label" lang="it">italiano</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_lv" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="lv" ><span class="ecl-site-header__language-link-code">lv</span><span class="ecl-site-header__language-link-label" lang="lv">latviešu</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_lt" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="lt" ><span class="ecl-site-header__language-link-code">lt</span><span class="ecl-site-header__language-link-label" lang="lt">lietuvių</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_hu" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="hu" ><span class="ecl-site-header__language-link-code">hu</span><span class="ecl-site-header__language-link-label" lang="hu">magyar</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_mt" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="mt" ><span class="ecl-site-header__language-link-code">mt</span><span class="ecl-site-header__language-link-label" lang="mt">Malti</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_nl" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="nl" ><span class="ecl-site-header__language-link-code">nl</span><span class="ecl-site-header__language-link-label" lang="nl">Nederlands</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_pl" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="pl" ><span class="ecl-site-header__language-link-code">pl</span><span class="ecl-site-header__language-link-label" lang="pl">polski</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_pt" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="pt" ><span class="ecl-site-header__language-link-code">pt</span><span class="ecl-site-header__language-link-label" lang="pt">português</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_ro" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="ro" ><span class="ecl-site-header__language-link-code">ro</span><span class="ecl-site-header__language-link-label" lang="ro">română</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_sk" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="sk" ><span class="ecl-site-header__language-link-code">sk</span><span class="ecl-site-header__language-link-label" lang="sk">slovenčina</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_sl" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="sl" ><span class="ecl-site-header__language-link-code">sl</span><span class="ecl-site-header__language-link-label" lang="sl">slovenščina</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_fi" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="fi" ><span class="ecl-site-header__language-link-code">fi</span><span class="ecl-site-header__language-link-label" lang="fi">suomi</span></a></li><li class="ecl-site-header__language-item"><a href="https://economy-finance.ec.europa.eu/euro/what-euro-area_sv" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-site-header__language-link" hreflang="sv" ><span class="ecl-site-header__language-link-code">sv</span><span class="ecl-site-header__language-link-label" lang="sv">svenska</span></a></li></ul></div></div></div></div> <div class="ecl-site-header__search-container" role="search"> <a class="ecl-button ecl-button--tertiary ecl-site-header__search-toggle" href="" data-ecl-search-toggle="true" aria-controls="oe-search-search-form" aria-expanded="false" ><svg class="ecl-icon ecl-icon--s ecl-site-header__icon" focusable="false" aria-hidden="true" role="img"><use xlink:href="/themes/contrib/oe_theme/dist/ec/images/icons/sprites/icons.svg#search"></use></svg>Search </a> <form class="ecl-search-form ecl-site-header__search" role="search" action="/euro/what-euro-area_en" method="post" id="oe-search-search-form" accept-charset="UTF-8" data-ecl-search-form ><div class="ecl-form-group"><label for="edit-keys" id="edit-keys-label" class="ecl-form-label ecl-search-form__label" >Search</label><input id="edit-keys" class="ecl-text-input ecl-text-input--m ecl-search-form__text-input form-search ecl-search-form__text-input" name="keys" type="search" ></div><button class="ecl-button ecl-button--ghost ecl-search-form__button ecl-search-form__button" type="submit" ><span class="ecl-button__container"><svg class="ecl-icon ecl-icon--xs ecl-button__icon" focusable="false" aria-hidden="true" data-ecl-icon><use xlink:href="/themes/contrib/oe_theme/dist/ec/images/icons/sprites/icons.svg#search"></use></svg><span class="ecl-button__label" data-ecl-label="true">Search</span></span></button><input data-drupal-selector="form-3wlikci8rxhqgxl9svj6itnqyj3nsm2gjweoc2reecy" type="hidden" name="form_build_id" value="form-3wliKci8RxhqGxl9SVj6itnqYj3nsm2gJweoC2REeCY" /><input data-drupal-selector="edit-oe-search-search-form" type="hidden" name="form_id" value="oe_search_search_form" /></form> <script type="application/json">{"service":"search","results":"in","form":".ecl-search-form","lang":"en","key":"europa_default"}</script> </div> </div> </div> </div> </div> </div> </div> <div class="ecl-site-header__banner"> <div class="ecl-container"> <div class="ecl-site-header__site-name">Economy and Finance</div> </div> </div> <div id="block-ewcms-theme-horizontal-menu"> </div> </header> <div class="ecl-u-mb-2xl" id="block-ewcms-theme-page-header"> <div class="ecl-page-header" ><div class="ecl-container"><nav class="ecl-breadcrumb ecl-page-header__breadcrumb" aria-label="You are here:" aria-label="" data-ecl-breadcrumb="true" ><ol class="ecl-breadcrumb__container"><li class="ecl-breadcrumb__segment" data-ecl-breadcrumb-item="static"><a href="/index_en" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-breadcrumb__link" >Economy and Finance</a><svg class="ecl-icon ecl-icon--fluid ecl-breadcrumb__icon" focusable="false" aria-hidden="true" role="presentation"><use xlink:href="/themes/contrib/oe_theme/dist/ec/images/icons/sprites/icons.svg#corner-arrow"></use></svg></li><li class="ecl-breadcrumb__segment" data-ecl-breadcrumb-item="static"><a href="/euro_en" class="ecl-link ecl-link--standalone ecl-link--no-visited ecl-breadcrumb__link" >The euro</a><svg class="ecl-icon ecl-icon--fluid ecl-breadcrumb__icon" focusable="false" aria-hidden="true" role="presentation"><use xlink:href="/themes/contrib/oe_theme/dist/ec/images/icons/sprites/icons.svg#corner-arrow"></use></svg></li><li class="ecl-breadcrumb__segment ecl-breadcrumb__current-page" data-ecl-breadcrumb-item="static" aria-current="page"><span>What is the euro area?</span></li></ol></nav><div class="ecl-page-header__info"><h1 class="ecl-page-header__title"><span>What is the euro area?</span></h1></div><div class="ecl-page-header__description-container"><p class="ecl-page-header__description">The euro area consists of those Member States of the European Union that have adopted the euro as their currency. </p></div></div></div> </div> <main class="ecl-u-pb-xl" id="main-content" data-inpage-navigation-source-area="h2.ecl-u-type-heading-2, div.ecl-featured-item__heading"> <div class="ecl-container"> <div class="ecl-row"> <div class="ecl-col-s-12 ewcms-top-sidebar"> <div> <div data-drupal-messages-fallback class="hidden"></div> </div> </div> </div> <div class="ecl-row"> <div class="ecl-col-s-12"> <div id="block-ewcms-theme-main-page-content" data-inpage-navigation-source-area="h2, div.ecl-featured-item__heading" class="ecl-u-mb-l"> <article dir="ltr"> <div> <div class="ecl-u-mb-2xl"> <a id="paragraph_941"></a> <div class="ecl-row inpage-navigation-container"> <div class="ecl-col-l-3"> <nav class="ecl-inpage-navigation oe-theme-ecl-inpage-navigation ecl-u-z-dropdown" data-ecl-auto-init="InpageNavigation" data-ecl-auto-initialized="true" data-ecl-inpage-navigation="true" aria-labelledby="ecl-inpage-navigation-1188904328" ><div class="ecl-inpage-navigation__title" id="ecl-inpage-navigation-1188904328">Page contents</div><div class="ecl-inpage-navigation__body"><div class="ecl-inpage-navigation__trigger-wrapper"><button type="button" class="ecl-inpage-navigation__trigger" id="ecl-inpage-navigation-1188904328-trigger" data-ecl-inpage-navigation-trigger="true" aria-controls="ecl-inpage-navigation-list" aria-expanded="false"><span class="ecl-inpage-navigation__trigger-current" data-ecl-inpage-navigation-trigger-current="true">Page contents</span><svg class="ecl-icon ecl-icon--xs ecl-icon--rotate-180 ecl-inpage-navigation__trigger-icon" focusable="false" aria-hidden="false" ><use xlink:href="/themes/contrib/oe_theme/dist/ec/images/icons/sprites/icons.svg#corner-arrow"></use></svg></button></div><ul class="ecl-inpage-navigation__list" data-ecl-inpage-navigation-list="true" id="ecl-inpage-navigation-1188904328-list"></ul></div></nav> </div> <div class="ecl-col-l-9" data-inpage-navigation-source-area="h2, div.ecl-featured-item__heading"> <div class="ecl-u-mb-2xl"> <a id="paragraph_214"></a> <div class="ecl"><p>All European Union Member States are part of Economic and Monetary Union (EMU) and coordinate their economic policy-making to support the economic aims of the EU. However, a number of Member States have taken a step further by replacing their national currencies with the single currency – the euro. These Member States form the euro area.</p> <p>When the euro was first introduced in 1999 – as 'book' money –, the euro area was made up of 11 of the then 15 EU Member States. Greece joined in 2001, just one year before the cash changeover, followed by Slovenia in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014, Lithuania in 2015 and Croatia in 2023. Today, the euro area numbers 20 EU Member States.</p> <p>Of the Member States outside the euro area, Denmark has an 'opt-out' from joining laid down in a Protocol annexed to the Treaty, although it can join in the future if it so wishes. Sweden has not yet qualified to be part of the euro area.</p> <p>The remaining non-euro area Member States are among those which acceded to the Union in 2004, 2007 and 2013, after the euro was launched. At the time of their accession, they did not meet the necessary conditions for entry to the euro area, but have committed to joining as and when they meet them – they are Member States with a 'derogation', such as Sweden.</p> <p>Andorra, Monaco, San Marino and the Vatican City have adopted the euro as their national currency by virtue of specific monetary agreements with the EU, and may issue their own euro coins within certain limits. However, as they are not EU Member States, they are not part of the euro area.</p></div> </div> <div class="ecl-u-mb-2xl"> <a id="paragraph_1622"></a> <h2 class="ecl-u-type-heading-2">Governing the euro area</h2> <div class="ecl"><p>By adopting the euro, the economies of the euro-area members become more integrated. This economic integration must be managed properly to realise the full benefits of the single currency. Therefore, the euro area is also distinguished from other parts of the EU by its economic management – in particular, monetary and economic policy-making.</p> <ul> <li>Monetary policy in the euro area is in the hands of the independent Eurosystem, comprising the European Central Bank (ECB), which is based in Frankfurt, Germany, and the national central banks of the euro-area Member States. Through its Governing Council, the ECB defines the monetary policy for the whole euro area – a single monetary authority with a single monetary policy and the primary objective to maintain price stability.</li> <li>Within the euro area, economic policy remains largely the responsibility of the Member States, but national governments must coordinate their respective economic policies in order to attain the common objectives of stability, growth and employment. Coordination is achieved through a number of structures and instruments, the Stability and Growth Pact (SGP) being a central one. The SGP contains agreed rules for fiscal discipline, such as limits on government deficits and on national debt, which must be respected by all EU Member States, although only euro-area countries are subject to sanction – financial or otherwise – in the event of non-compliance.</li> <li>Implementation of the EU’s economic governance is organised annually in a cycle, known as the European Semester.</li> </ul></div> </div> <div class="ecl-u-mb-2xl"> <a id="paragraph_1623"></a> <h2 class="ecl-u-type-heading-2">Who’s already in?</h2> <div class="ecl"><div class="ecl-table-responsive"><table class="ecl-table"> <thead class="ecl-table__head"> <tr class="ecl-table__row"> <th class="ecl-table__header">Euro-area Member States</th> <th class="ecl-table__header">Non-euro area Member States</th> <th class="ecl-table__header">Member State with an opt-out</th> </tr> </thead> <tbody class="ecl-table__body"> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/austria-and-euro_en">Austria</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"><a href="/euro/eu-countries-and-euro/bulgaria-and-euro_en">Bulgaria</a></td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"><a href="/euro/eu-countries-and-euro/denmark-and-euro_en">Denmark</a></td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/belgium-and-euro_en">Belgium</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"><a href="/euro/eu-countries-and-euro/czechia-and-euro_en">Czechia</a></td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/croatia-and-euro_en">Croatia</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"><a href="/euro/eu-countries-and-euro/hungary-and-euro_en">Hungary</a></td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/cyprus-and-euro_en">Cyprus</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"><a href="/euro/eu-countries-and-euro/poland-and-euro_en">Poland</a></td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/estonia-and-euro_en">Estonia</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"><a href="/euro/eu-countries-and-euro/romania-and-euro_en">Romania</a></td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/finland-and-euro_en">Finland</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"><a href="/euro/eu-countries-and-euro/sweden-and-euro_en">Sweden</a></td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/france-and-euro_en">France</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/germany-and-euro_en">Germany</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/greece-and-euro_en">Greece</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/ireland-and-euro_en">Ireland</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/italy-and-euro_en">Italy</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/latvia-and-euro_en">Latvia</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/lithuania-and-euro_en">Lithuania</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/luxembourg-and-euro_en">Luxembourg</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/malta-and-euro_en">Malta</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/netherlands-and-euro_en">Netherlands</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/portugal-and-euro_en">Portugal</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/slovakia-and-euro_en">Slovakia</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/slovenia-and-euro_en">Slovenia</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> <tr class="ecl-table__row"> <td class="ecl-table__cell" data-ecl-table-header="Euro-area Member States"><a href="/euro/eu-countries-and-euro/spain-and-euro_en">Spain</a></td> <td class="ecl-table__cell" data-ecl-table-header="Non-euro area Member States"> </td> <td class="ecl-table__cell" data-ecl-table-header="Member State with an opt-out"> </td> </tr> </tbody> </table></div></div> </div> </div> </div> </div> </div> </article> </div> </div> </div> <div class="ecl-row"> <div class="ecl-col-s-12"> <div> <div id="block-ewcms-theme-socialshare"> <div class="ecl-social-media-share"> <p class="ecl-social-media-share__description"> Share this page </p> <script type="application/json">{"service":"share","version":"2.0","networks":["twitter","facebook","linkedin","email","more"],"display":"icons","stats":true,"selection":true}</script> </div> </div> </div> </div> </div> </div> </main> <footer class="ecl-site-footer" data-logo-area-label-en="Home - European Commission" ><div class="ecl-container ecl-site-footer__container"><div class="ecl-site-footer__row"><div class="ecl-site-footer__column"><div class="ecl-site-footer__section ecl-site-footer__section--site-info"><div class="ecl-site-footer__title"><a href="https://economy-finance.ec.europa.eu/index_en" class="ecl-link ecl-link--standalone ecl-site-footer__title-link" >Economy and Finance</a></div><div class="ecl-site-footer__description">This site is managed by:<br />Directorate-General for Economic and Financial Affairs</div><ul class="ecl-site-footer__list"><li class="ecl-site-footer__list-item"><a href="/accessibility-statement_en" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-is-accessibility-link="true" >Accessibility</a></li></ul></div></div><div class="ecl-site-footer__column"><div class="ecl-site-footer__section"><div class="ecl-site-footer__title">About us</div><ul class="ecl-site-footer__list"><li class="ecl-site-footer__list-item"><a href="https://commission.europa.eu/about-european-commission/departments-and-executive-agencies/economic-and-financial-affairs_en" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-section-label-untranslated="About us" data-footer-link-label="Economic and Financial Affairs" >Economic and Financial Affairs</a></li></ul></div><div class="ecl-site-footer__section"><div class="ecl-site-footer__title">Follow us</div><ul class="ecl-site-footer__list ecl-site-footer__list--inline"><li class="ecl-site-footer__list-item"><a href="https://ec.europa.eu/newsroom/ecfin/user-subscriptions/199/create" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-section-label-untranslated="Follow us" data-footer-link-label="Subscribe to ECFIN E-news" >Subscribe to ECFIN E-news</a></li><li class="ecl-site-footer__list-item"><a href="https://ec.europa.eu/newsroom/ecfin/user-subscriptions/316/create" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-section-label-untranslated="Follow us" data-footer-link-label="Subscribe to ECFIN New Publication" >Subscribe to ECFIN New Publication</a></li><li class="ecl-site-footer__list-item"><a href="https://be.linkedin.com/showcase/eu-economy-finance/" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-link--icon ecl-site-footer__link" data-section-label-untranslated="Follow us" data-footer-link-label="EU Economy and Finance" ><svg class="ecl-icon ecl-icon--m ecl-link__icon" focusable="false" aria-hidden="true" ><use xlink:href="/themes/contrib/oe_theme/dist/ec/images/icons-social-media/sprites/icons-social-media.svg#linkedin-negative"></use></svg><span class="ecl-link__label">EU Economy and Finance</span></a></li><li class="ecl-site-footer__list-item"><a href="https://twitter.com/ecfin" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-link--icon ecl-site-footer__link" data-section-label-untranslated="Follow us" data-footer-link-label="EU Economy & Finance" ><svg class="ecl-icon ecl-icon--m ecl-link__icon" focusable="false" aria-hidden="true" ><use xlink:href="/themes/contrib/oe_theme/dist/ec/images/icons-social-media/sprites/icons-social-media.svg#twitter-negative"></use></svg><span class="ecl-link__label">EU Economy & Finance</span></a></li></ul></div></div><div class="ecl-site-footer__column"><div class="ecl-site-footer__section"><div class="ecl-site-footer__title">Related sites</div><ul class="ecl-site-footer__list"><li class="ecl-site-footer__list-item"><a href="https://commission.europa.eu/business-economy-euro_en" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-section-label-untranslated="Related sites" data-footer-link-label="Business, Economy, Euro" >Business, Economy, Euro</a></li></ul></div></div></div><div class="ecl-site-footer__row"><div class="ecl-site-footer__column"><div class="ecl-site-footer__section"><a href="https://commission.europa.eu/index_en" class="ecl-link ecl-link--standalone ecl-site-footer__logo-link" ><picture class="ecl-picture ecl-site-footer__picture" title="European Commission" ><source srcset="/themes/contrib/oe_theme/dist/ec/images/logo/negative/logo-ec--en.svg" media="(min-width: 996px)" ><img class="ecl-site-footer__logo-image" src="/themes/contrib/oe_theme/dist/ec/images/logo/negative/logo-ec--en.svg" alt="European Commission logo" ></picture></a></div></div><div class="ecl-site-footer__column"><div class="ecl-site-footer__section"><ul class="ecl-site-footer__list"><li class="ecl-site-footer__list-item"><a href="https://commission.europa.eu/about-european-commission/contact_en" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-section-label-untranslated="service_navigation" data-footer-link-label="Contact the European Commission" >Contact the European Commission</a></li><li class="ecl-site-footer__list-item"><a href="https://european-union.europa.eu/contact-eu/social-media-channels_en#/search?page=0&institutions=european_commission" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-section-label-untranslated="service_navigation" data-footer-link-label="Follow the European Commission on social media" >Follow the European Commission on social media</a></li><li class="ecl-site-footer__list-item"><a href="https://commission.europa.eu/resources-partners_en" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-section-label-untranslated="service_navigation" data-footer-link-label="Resources for partners" >Resources for partners</a></li><li class="ecl-site-footer__list-item"><a href="https://commission.europa.eu/legal-notice/vulnerability-disclosure-policy_en" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-section-label-untranslated="service_navigation" data-footer-link-label="Report an IT vulnerability" >Report an IT vulnerability</a></li></ul></div></div><div class="ecl-site-footer__column"><div class="ecl-site-footer__section"><ul class="ecl-site-footer__list"><li class="ecl-site-footer__list-item"><a href="https://commission.europa.eu/languages-our-websites_en" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-section-label-untranslated="legal_navigation" data-footer-link-label="Languages on our websites" >Languages on our websites</a></li><li class="ecl-site-footer__list-item"><a href="https://commission.europa.eu/cookies_en" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-section-label-untranslated="legal_navigation" data-footer-link-label="Cookies" >Cookies</a></li><li class="ecl-site-footer__list-item"><a href="https://commission.europa.eu/privacy-policy_en" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-section-label-untranslated="legal_navigation" data-footer-link-label="Privacy policy" >Privacy policy</a></li><li class="ecl-site-footer__list-item"><a href="https://commission.europa.eu/legal-notice_en" class="ecl-link ecl-link--standalone ecl-link--inverted ecl-site-footer__link" data-section-label-untranslated="legal_navigation" data-footer-link-label="Legal notice" >Legal notice</a></li></ul></div></div></div></div></footer> </div> <script type="application/json">{"utility":"piwik","siteID":"098919b2-0613-49fc-b310-7a4fa573730d","sitePath":["economy-finance.ec.europa.eu"],"instance":"ec","dimensions":[{"id":3,"value":"Landing Page"},{"id":4,"value":"euro-area"},{"id":5,"value":"Directorate-General-for-Economic-and-Financial-Affairs"},{"id":6,"value":"What is the euro area?"},{"id":7,"value":"0f7f15c7-2e2b-4d90-843a-c0689e12b04f"},{"id":8,"value":"EC - STANDARDISED"},{"id":9,"value":"Economic-and-Monetary-Union economic-policy euro-area"}]}</script> <script type="application/json">{"utility":"cck"}</script> <script type="application/json" data-drupal-selector="drupal-settings-json">{"path":{"baseUrl":"\/","pathPrefix":"","currentPath":"node\/110","currentPathIsAdmin":false,"isFront":false,"currentLanguage":"en","urlSuffixes":["bg","es","cs","da","de","et","el","en","fr","ga","hr","it","lv","lt","hu","mt","nl","pl","pt","ro","sk","sl","fi","sv","ca","tr","ar","is","no","uk","ru","zh","lb","sw","he","ja"]},"pluralDelimiter":"\u0003","suppressDeprecationErrors":true,"ajaxTrustedUrl":{"form_action_p_pvdeGsVG5zNF_XLGPTvYSKCf43t8qZYSwcfZl2uzM":true},"user":{"uid":0,"permissionsHash":"84c5387c507eec33a55bca81571864b8bb3306e85646a857801861ae8918e892"}}</script> <script src="/sites/default/files/js/js_2mZ4cMekj3lENqZLXqmoVfIv11pP4NeQL5doXUY9Dz8.js?scope=footer&delta=0&language=en&theme=ewcms_theme&include=eJxVjdEOgzAIRX_IzU8iWEkloWAorfPvZzaN8Q04l3ONYKMpzKSOs7cV5X3tr1rQQwxn8sEIYqFCY7KympIGCE-OvgOlm9InyBUFas8DbanUC_xmPNAenOrJSpNgYc0N5YwUTAvr4XPUKhhsCmpHWaenMEFt3ml_XFlXzASKnfP_16lYR_kCSaxdNw"></script> <script src="https://webtools.europa.eu/load.js" defer></script> <script src="/sites/default/files/js/js_iqbhUsaAPaVRXV_tcy1NxLnDlxRHyiZaG76Y6C67K5w.js?scope=footer&delta=2&language=en&theme=ewcms_theme&include=eJxVjdEOgzAIRX_IzU8iWEkloWAorfPvZzaN8Q04l3ONYKMpzKSOs7cV5X3tr1rQQwxn8sEIYqFCY7KympIGCE-OvgOlm9InyBUFas8DbanUC_xmPNAenOrJSpNgYc0N5YwUTAvr4XPUKhhsCmpHWaenMEFt3ml_XFlXzASKnfP_16lYR_kCSaxdNw"></script> <script src="https://ec.europa.eu/wel/surveys/wr_survey01/wr_survey.js" defer></script> <script src="/sites/default/files/js/js_rBd0d0kzOD5989KWmgfRwZsc4xYeF-V33W-m1KQaVkk.js?scope=footer&delta=4&language=en&theme=ewcms_theme&include=eJxVjdEOgzAIRX_IzU8iWEkloWAorfPvZzaN8Q04l3ONYKMpzKSOs7cV5X3tr1rQQwxn8sEIYqFCY7KympIGCE-OvgOlm9InyBUFas8DbanUC_xmPNAenOrJSpNgYc0N5YwUTAvr4XPUKhhsCmpHWaenMEFt3ml_XFlXzASKnfP_16lYR_kCSaxdNw"></script> </body> </html>