Eurozone European Central Bank Building

Main article: Eurozone European Central Bank Building in Frankfurt. Other States in the Eurozone EU states, which ultimately will be required to join the euro zone in which the state held a referendum on the euro (Denmark) EU state with an exclusion clause in the participation in the Eurozone (UK) Areas outside the EU using the euro to an agreement Areas outside the EU using the euro without an agreement is called “Euroland” (or euro area) to all countries that have adopted the single currency, plus Andorra, Monaco, San Marino and the Vatican, who have decided to use the euro. Overseas territories of some Eurozone countries, such as French Guiana, R union, Saint Pierre and Miquelon, and Martinique also use the euro.Monaco, San Marino and the Vatican use the Euro by virtue of agreements signed with EU members (Italy in the case of San Marino and the Vatican, France in the case of Monaco) on behalf of the European Community. Andorra, Montenegro and Kosovo also used currencies that were replaced by the Euro (the French franc and Spanish peseta in the case of Andorra and the German mark in the case of Montenegro and Kosovo). They have now adopted the euro as its currency de facto, without entering into any legal agreement with the EU that explicitly allows them to. In October 2004, Andorra began a monetary agreement with the EU that will allow issuing euro coins including Monaco, San Marino and the Vatican, as of January 1, 2012 Many of the foreign currencies that had a type of fixed exchange on European currencies to have it passed on the euro. For example, the Cape Verde escudo was linked to the Portuguese escudo now has the fixed exchange rate against the euro.The same happened with the CFA franc CFP franc Comorian franc and French franc and linked to the framework of Bosnia-Herzegovina convertible linked to the German, now linked to the euro. The euro is widely accepted in Cape Verde informally and in November 2004 during a meeting in Portugal, Prime Minister of Cape Verde considered formally accept the euro as a currency of the country. East Timor also continued to use the Portuguese escudo as legal tender in 1999, when the shield was already a subdivision of the euro. No change since the U.S. dollar was later introduced as the only legal tender and the territory. Since December 2002, North Korea changed the dollar as its official currency for all international transactions to the euro. Since then the euro has replaced the dollar in most of the local black market and where the dollar was used previously. China and Russia have also transferred much of its foreign reserves from dollars to euros.In total, the euro is the official currency in 31 states and territories. Also, 27 states and territories that have a national currency is tied to the Euro including 16 West African countries like Senegal and Cameroon, 3 territories including French Polynesia and New Caledonia, 2 African island where the currency was linked to the currency before French or Portuguese, 3 previously communist countries whose currency was linked to Germany including the former Yugoslav Republic of Macedonia. Morocco, Denmark, Estonia and Hungary are also linked to the euro currency.

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