Before the formation of the European Union, with the exception of a few countries, each state had its own monetary policy and monetary unit, which were regulated by the Central Bank.
Today most of the European countries are included in the euro area. Thus, as of 2014, the euro is the official currency in 18 out of 28 European member states.
The European Union and the "euro area" differ in the number of member countries.
Control of circulation, setting interest rates and other aspects of monetary policy in the euro area are in the introduction of the European Central Bank. The bank is headquartered in Frankfurt am Main, and the largest national banks in Europe participate in its management. The European System of Central Banks includes the major banks of Spain, Italy, Greece, France, Belgium, the Bundesbank and the Luxembourg Monetary Institute.
In which countries is the national currency of the euro
As noted above, the euro is in official circulation in 18 states of the European Union. List of EU member states with their own currency: Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Cyprus, Latvia, Luxembourg, as well as Malta, the Netherlands, Portugal, Slovakia, Slovenia, Finland, France and Estonia.
Modern national monetary units of Europe
List of European EU member states that did not introduce the euro as a payment unit.
Western European countries such as Iceland, Norway and Switzerland are not part of the European Union.
Today, European countries include:
Bulgaria - Bulgarian lev (BGN). The exchange rate is approximately 1: 2, that is, 1 euro can be exchanged for 2 leva.
United Kingdom - Pound Sterling (British Pound, GBP). The exchange rate against the euro is floating. For example, 100 euros can be exchanged for approximately 83-84 British pounds sterling.
Hungary - Hungarian Forint (HUF). The exchange rate set against foreign currencies is floating.
Denmark - Danish Krone (DKK). The euro is pegged to the kroon at a ratio of 7,46038: 1.
Lithuania - (planned to introduce the euro from 2015) - Lithuanian litas (LTL). The Litas / Euro exchange rate is 3.4528: 1.
Poland - Polish zloty (PLN). The exchange rate against the euro is 4, 193: 1.
Romania - Romanian leu (RON). The leu / euro ratio is 4, 497: 1.
Croatia - Croatian Kuna (HRK). The ratio of the kuna to the euro is 7.663: 1.
Czech Republic - Czech crown (CZK). The ratio of the kroon to the euro is 27.45: 1.
Sweden - Swedish krona (SEK). The exchange rate of the monetary unit to the euro is 8, 841: 1.
