What Is the Euro, and Which Countries Use It?
The euro (€) is the shared currency of much of Europe and the second most important currency in the world after the US dollar. Here’s the essential picture.
Who uses it
The euro is the official currency of 20 European Union countries — the “eurozone” — including Germany, France, Italy, Spain, Ireland, the Netherlands and Greece. Several small non-EU states use it too. Notably, some EU members (like Poland and Sweden) keep their own currencies.
Who runs it
The European Central Bank sets interest rates for the whole eurozone — a tricky job, since one policy must fit economies from Germany to Portugal. Its decisions are the biggest driver of the euro-dollar and euro-pound rates.
Why it was created
Launched in 1999 (notes and coins in 2002), the euro was designed to make trade and travel across Europe seamless and to bind the continent closer together. No exchanging money crossing from France to Germany.
Convert and compare
Convert the euro against 150+ currencies on our live tool, or compare eurozone living costs in our USA vs Eurozone breakdown.