The Eurozone and its Countries

The Eurozone a term reserved for the 16 countries of the European Union (EU) that has officially adopted the Euro as their national currencies. The following countries have signed the Euro agreement and are using the Euro as their national currency: Belgium, Germany, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, and Malta. Others are The Netherlands, Austria, Portugal, Slovenia, Slovakia, and Finland. Monaco, San Marino and Vatican City, have formal agreements to mint and use the Euro, but they are not members of the ECB (European Central Bank). Yet still countries such as Kosovo, and Montenegro have adopted the Euro as their official currency, but they have no issuing rights. Those in line for the Euro are Turkey and Croatia. The following European countries are members of the European Union, but have not adopted the Euro as the official currency: Bulgaria, Czech Republic, Denmark, Estonia, Latvia, Poland, Lithuania, Hungry, Sweden, and the UK. Sweden and Denmark specifically rejected the Euro in a referendum, and the UK government has promised a referendum on the issue, but till date, none has been carried out.

Every major currency has notes and coins, so likewise the Euro. Though unlike every other currency, the drawings on the face of Euro coins differ significantly from each other. Each country’s landmark or some other physical attribute is represented on the face of their Euro. For instance the Italian coin has the Vitruvian Man on it, while the German Euro coin has the Eagle on it.
The Euro has continued to dominate and influence world economic decisions and the Euro reserves in central banks of most countries of the world have continued to grow as the Euro continues to play a leading role in international trade payments. Although, there are crises besieging countries of the Eurozone. Greece the black sheep of the group, with its economic crises and GDP is drawing back the rest of the Countries in the Eurozone, and Germany, engine house is threatening to withdraw is nothing urgent is done to avert the crisis. However, Chinese government has promised to help Greece with its economic crisis.

UK, Sweden and Denmark may after all be having the last laugh, as they have consistently refused the Euro as their national currency. Sweden and Denmark floored it in a referendum and there is no doubt if one is carried out today in the UK, the people will return with a resounding NO!