There are eight currencies of the European Union as of 2023[update] used officially by member states. The euro accounts for the majority of the member states with the remainder operating independent monetary policies. Those European Union states that have adopted it are known as the eurozone and share the European Central Bank (ECB). The ECB and the national central banks of all EU countries, including those who operate an independent currency, are part of the European System of Central Banks.
Except for Denmark, all current and future members of the EU are obliged to adopt the Euro as their currency, thus replacing their current ones.[2] The relationship between euro and non-euro states has been on debate both during the United Kingdom's membership (as a large opt-out state) and in light of withdrawal from the EU and how that impacts the balance of power between the countries inside and those outside the eurozone, avoiding a eurozone caucus out-voting non-euro states. Former member United Kingdom had called for the EU treaties to recognise the EU as a "multicurrency union", which sparked concerns about undermining euro adoption in remaining countries.[3][4][5][6]
Current currencies
Map of currencies used within the EU and dates of Euro adoption
States which used the euro from 1999 (currency entered circulation 2002)
States which subsequently adopted the euro
States using other currencies
The following are official and unofficial currencies used within the borders of the 27 EU Member states:
Note that there are other currencies used in overseas territories of member states. Those territories however are not part of the European Union proper (legally subject to all its law) so are not listed here.
