Interesting Facts
The European Union’s (EU) common currency, the euro, is legal tender not only in the fifteen euro area Member States (Ireland, Austria, Belgium, Cyprus, Greece, Spain, Italy, Luxembourg, Malta, the Netherlands, Portugal, France, Slovenia, Finland and Germany), but also (officially and unofficially) in other countries and territories.
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Collection of San Marino euro coins |
The EU has concluded special agreements with Monaco, the Vatican and San Marino for the euro as legal tender in these countries. They have the right to issue euro coins with their national sides, but may not issue euro banknotes. Thus, the tradition of agreements that existed between France and Monaco, Italy and San Marino, Italy and the Vatican to use, respectively, the franc and the lira as their national currencies continues.
In Andorra, the euro replaced the Spanish peseta and the French franc that were used in this principality, though an agreement between this country and the EU has not yet been signed.
Also, the euro is used as a currency in Montenegro and Kosovo. Here, the euro replaced the German mark which, up to then, had been used as the local de facto currency.
Overseas departments, territories and islands associated with or within the euro area Member States also use the euro. Thus, the euro circulates in the Azores, Guyana, Guadeloupe, Maiote, Martinique, Reunion, San Pierre and Miquelone.
