Eurozone
European Union
This article is part of the series:
Politics and government of
the European Union
Treaties
• Rome
• Maastricht (Pillars)
• Amsterdam
• Nice
• Lisbon
Institutions
• Commission
• President José Manuel Barroso
• Barroso Commission
• Parliament
• President Hans-Gert Pöttering
• MEPs (2004-09 term
• Council
• Presidency: Czech Republic (Mirek
Topolánek)
• High Representative
• Voting
• European Council
• Other & Future Institutions
• Court of Justice
• Court of Auditors
• Central Bank
Elections
• Last election (2004)
• 2007 by-election
• Next election (2009)
• Constituencies
• Parties
• Foundations
• Parliamentary groups
Related topics
• States
• Enlargement
• Foreign relations
• Law
• EMU
• Other bodies
• Agencies
Other countries · Atlas
Politics portal
The eurozone (officially the euro area[1][2])
is a currency union of 16 European Union
(EU) states which have adopted the euro as
their sole legal tender. It currently consists of
Austria, Belgium, Cyprus, Finland, France,
Germany, Greece,
Ireland,
Italy, Luxem-
bourg, Malta,
the Netherlands, Portugal,
Slovakia, Slovenia and Spain. Eight[3] other
states are obliged to adopt the zone once
they fulfill the strict entry criteria.
Depending on the exchange rates used,
the eurozone’s economy is either slightly lar-
ger or smaller than that of the United States,
the largest national economy in the world.[4]
The eurozone has a population of 326 million
people and has a GDP (PPP) of 8.4 (14.6% of
global GDP). Monetary policy of the zone is
the responsibility of the European Central
Bank, though there is no common representa-
tion, governance or fiscal policy for the cur-
rency union.
The term "eurozone" or "euro area" can
also be taken informally to include third
countries that have adopted the euro, for ex-
ample Montenegro (see details on these
countries below). Three European micro-
states – Monaco, San Marino and the Vatican
– have concluded agreements with the
European Union permitting them to use the
euro as their official currency and mint
coins