Non-member usage[edit]
Further information: International status and usage of the euro
eurozone participation
European Union member states (eurozone) – 18
European Union member state in ERM II scheduled to join on 1 January 2015 – Lithuania
European Union member states not in ERM II but obliged to join – 7
European Union member state in ERM II with an opt-out – Denmark
European Union member state not in ERM II with an opt-out – United Kingdom
non-European Union member states using the euro with a monetary agreement – 4
non-European Union member states using the euro unilaterally – 2
v t e
The euro is also used in countries outside the EU. Three states – Monaco, San Marino, and Vatican City —[10][13] have signed formal agreements with the EU to use the euro and issue their own coins. Nevertheless, they are not considered part of the Eurozone by the ECB and do not have a seat in the ECB or Euro Group. Andorra's monetary agreement with the EU to use the euro came into force in April 2012 and would have permitted it to issue its own euro coins as early as 1 July 2013, provided that Andorra implemented relevant EU legislation.[13][28] They were expected to issue their first coins on 1 January 2014.[11][11][12][29] However, EU approval to begin minting the coins was delayed until December 2013, so the first Andorran coins were delayed,[30] with Minister of Culture Stephen Albert stating that he was optimistic they would be released by March or April 2014.[31]
Kosovo[g] and Montenegro officially adopted the euro as their sole currency without an agreement and, therefore, have no issuing rights.[13] These states are not considered part of the Eurozone by the ECB. However, sometimes the term Eurozone is applied to all territories that have adopted the euro as their sole currency.[32][33][34] Further unilateral adoption of the euro (euroisation), by both non-euro EU and non-EU members, is opposed by the ECB and EU.[35]
Expulsion and secession[edit]
Although the Eurozone is open to all EU member states to join once they meet the criteria, the treaty is silent on the matter of states leaving the Eurozone, neither prohibiting nor permitting it. Likewise there is no provision for a state to be expelled from the euro.[36] Some, however, including the Dutch government, favour such a provision being created in the event that a heavily indebted state in the Eurozone refuses to comply with an EU economic reform policy.[37] Jens Dammann has argued that even now EU law contains an implicit right for member states to leave the Eurozone if they no longer meet the criteria that they had to meet in order to join the Eurozone.[38]
The benefits of leaving the euro would vary depending on the situation. If the country's own replacement currency was expected to devalue against the euro, the state might experience a large-scale exodus of money, whereas if the currency were expected to appreciate then more money would flow into the economy. A rapidly appreciating currency would be detrimental to the country's exports.[39]
One problem is that leaving the euro cannot be achieved very quickly, banknotes must be printed for example. So during preparations, a lot of currency might leave the country, and people might be expected to withdraw euros in cash, causing a bank run. This would depend on the relative interest rates and depreciation rates.
Non-member usage[edit]
Further information: International status and usage of the euro
eurozone participation
European Union member states (eurozone) – 18
European Union member state in ERM II scheduled to join on 1 January 2015 – Lithuania
European Union member states not in ERM II but obliged to join – 7
European Union member state in ERM II with an opt-out – Denmark
European Union member state not in ERM II with an opt-out – United Kingdom
non-European Union member states using the euro with a monetary agreement – 4
non-European Union member states using the euro unilaterally – 2
v t e
The euro is also used in countries outside the EU. Three states – Monaco, San Marino, and Vatican City —[10][13] have signed formal agreements with the EU to use the euro and issue their own coins. Nevertheless, they are not considered part of the Eurozone by the ECB and do not have a seat in the ECB or Euro Group. Andorra's monetary agreement with the EU to use the euro came into force in April 2012 and would have permitted it to issue its own euro coins as early as 1 July 2013, provided that Andorra implemented relevant EU legislation.[13][28] They were expected to issue their first coins on 1 January 2014.[11][11][12][29] However, EU approval to begin minting the coins was delayed until December 2013, so the first Andorran coins were delayed,[30] with Minister of Culture Stephen Albert stating that he was optimistic they would be released by March or April 2014.[31]
Kosovo[g] and Montenegro officially adopted the euro as their sole currency without an agreement and, therefore, have no issuing rights.[13] These states are not considered part of the Eurozone by the ECB. However, sometimes the term Eurozone is applied to all territories that have adopted the euro as their sole currency.[32][33][34] Further unilateral adoption of the euro (euroisation), by both non-euro EU and non-EU members, is opposed by the ECB and EU.[35]
Expulsion and secession[edit]
Although the Eurozone is open to all EU member states to join once they meet the criteria, the treaty is silent on the matter of states leaving the Eurozone, neither prohibiting nor permitting it. Likewise there is no provision for a state to be expelled from the euro.[36] Some, however, including the Dutch government, favour such a provision being created in the event that a heavily indebted state in the Eurozone refuses to comply with an EU economic reform policy.[37] Jens Dammann has argued that even now EU law contains an implicit right for member states to leave the Eurozone if they no longer meet the criteria that they had to meet in order to join the Eurozone.[38]
The benefits of leaving the euro would vary depending on the situation. If the country's own replacement currency was expected to devalue against the euro, the state might experience a large-scale exodus of money, whereas if the currency were expected to appreciate then more money would flow into the economy. A rapidly appreciating currency would be detrimental to the country's exports.[39]
One problem is that leaving the euro cannot be achieved very quickly, banknotes must be printed for example. So during preparations, a lot of currency might leave the country, and people might be expected to withdraw euros in cash, causing a bank run. This would depend on the relative interest rates and depreciation rates.
การแปล กรุณารอสักครู่..