How the Euro Works

Participating Countries

There are currently 13 member states of the European Union utilizing the euro:

  • Belgium
  • Germany
  • Greece
  • Spain
  • France
  • Ireland
  • Italy
  • Luxembourg
  • The Netherlands
  • Austria
  • Portugal
  • Finland
  • Slovenia

Additionally, six non-EU countries and territories use the euro as a form of payment:


  • Monaco
  • Vatican City
  • San Marino
  • Andorra
  • Kosovo
  • Montenegro

To participate, countries must meet the requirements that were set up in the Maastricht Treaty, drafted in 1991.

Countries that meet the criteria but did not wish to participate include Great Britain, Denmark and Sweden.