The international status and usage of the euro The euro is the official currency of the European Union (EU), and is currently in use in 16 of the 27 Member States. The states, known collectively as the Eurozone, are Austria, Belgium, Cyprus, Finland, France, Germany, Greece, the Republic of Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. The currency has grown since its launch in 1999. When the euro formally replaced 12 currencies on 1 January 2002, it inherited their use in territories such as Montenegro Montenegro ( /ˌmɒntɨˈneɪɡroʊ/ or /ˌmɒntɨˈniːɡroʊ/), (Montenegrin: Црна Гора/Crna Gora, listen (help·info)) (meaning "Black Mountain" in Montenegrin) is a country located in Southeastern Europe. It has a coast on the Adriatic Sea to the south-west and is bordered by Croatia to the west, Bosnia and Herzegovina to the and they replaced minor currencies tied to the pre-euro currencies such as in Monaco Monaco /ˈmɒnəkoʊ/ , officially the Principality of Monaco (French: Principauté de Monaco; Monégasque: Principatu de Múnegu; Italian: Principato di Monaco; Occitan: Principat de Mónegue), is a small sovereign city-state located in South Western Europe on the northern central coast of the Mediterranean Sea. It is surrounded on three sides by. Three small states have been given a formal right to use the euro, and to mint their own coins, but all other usage has been unofficial outside the eurozone The eurozone ( pronunciation ), officially the euro area, is an economic and monetary union (EMU) of 16 European Union (EU) member states which have adopted the euro currency as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, (the EU states who have adopted the euro). With or without an agreement these countries, unlike those in the eurozone, do not participate in the European Central Bank The European Central Bank is the institution of the European Union (EU) tasked with administrating the monetary policy of the 16 EU member states taking part in the Eurozone. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt, Germany. The or the Euro Group The eurozone is a currency union of 16 European Union member states which have adopted the euro as their sole legal tender. It currently consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. Eight other states are obliged to adopt the zone.
Its international usage has also grown in its usage as a trading currency, acting as an economic or political alternative to using the United States dollar The United States dollar is the official unit of currency of the United States. The U.S. dollar is normally abbreviated as the dollar sign, $, or as USD or US$ to distinguish it from other dollar-denominated currencies and from others that use the $ symbol. It is divided into 100 cents. Its increasing usage in this sense has led to it becoming the only significant challenger to the US dollar as the world main reserve currency A reserve currency, or anchor currency, is a currency which is held in significant quantities by many governments and institutions as part of their foreign exchange reserves. It also tends to be the international pricing currency for products traded on a global market, such as oil, gold, etc.
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HILLBLOGGER
ue, 06 Oct 2009 12:36:01 GM
"These plans will change the face of . international. financial transactions," one Chinese banker said. "America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate." ... Other countries and territories, . use. the . euro. under a formal agreement with the EU, eg., Monaco, San Marino, Vatican City, Saint-Pierre-et-Miquelon off the coast of Canada, Mayotte in the Indian Ocean, and 6 others have adopted the . euro. without a ...
