Eurozones

The Eurozone, also known as the euro area, is the group of European Union member states that have adopted the euro as their official currency and share a common monetary policy. As of 2025, 20 of the 27 EU member states use the euro: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain, and Croatia. Non-members include Bulgaria, Czechia, Denmark, Hungary, Poland, Romania, Sweden, and the United Kingdom (no longer an EU member).

The euro is administered by the European Central Bank (ECB) and the Eurosystem, which comprises the ECB and the national central banks of eurozone countries. The ECB is responsible for monetary policy, aiming to maintain price stability with an inflation rate close to 2% over the medium term. The euro area operates a single monetary policy, but national fiscal policies remain under member-state control, subject to EU rules such as the Stability and Growth Pact.

The euro was introduced in 1999 as an accounting currency and euro banknotes and coins entered circulation in 2002. Countries join the euro area after meeting convergence criteria (price stability, public finance sustainability, exchange-rate stability, and long-term interest rates) and completing national legal steps.

Participation in the eurozone has implications for economic coordination, financial regulation, and regional integration, including efforts toward banking union and greater fiscal surveillance. The eurozone landscape may change with future joiners or departures depending on economic and political developments.