The euro area, [8] commonly called the eurozone (EZ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies.

The euro area consists of those Member States of the European Union that have adopted the euro as their currency.

Currently, the euro (€) is the official currency of 20 out of 27 EU member countries which together constitute the Eurozone, officially called the euro area. In order to join the euro area, EU member states are required to fulfil so-called ' convergence criteria '.

The euro (symbol: €; currency code: EUR) is the official currency of 20 of the 27 member states of the European Union. This group of states is officially known as the euro area or, more commonly, the eurozone. The euro is divided into 100 euro cents. [7][8]

With about 350 million inhabitants, the euro area is home to some 5% of the world’s population. That’s a higher number than live in the United States. It also means the euro area is one of the largest economies in the world. Eight new member countries have joined the euro area since its establishment, and more are expected to follow.

Jun 30, 2022 · The eurozone, officially known as the euro area, is a geographic and economic region that consists of all the European Union countries that have fully incorporated the euro as their national...

What is the euro area? The euro area consists of those Member States of the European Union that have adopted the euro as their currency. Who can join and when? The euro could develop further its global role, reflecting the euro area’s economic and financial weight. The euro is the currency of 20 EU Member States.

These countries form the euro area. The micro-states of Andorra, Monaco, San Marino and Vatican City also use the euro, on the basis of a formal arrangement with the European Union. Montenegro and Kosovo likewise use the euro, but without a formal arrangement.

Dec 3, 2024 · The euro area consists of those Member States (MS) of the European Union (EU) that have adopted the euro as their common currency and sole legal tender. The euro was introduced to world financial markets as an accounting currency on 1 January 1999.

Compared with its individual member countries, the euro area is a large and much more closed economy. In terms of its share of global GDP, it is the world’s third-largest economy, after the United States and China.