Currencies of Europe

Currencies Of Europe

There are eleven currencies of the European Union as of 2011, the principal currency being the Euro. The Euro is used by the institutions of the European Union and by the Eurozone states, which account for 17 of the 27 member states of the European Union. Although all but two states are obliged to adopt the currency there are three states which have, through legal exemption or de facto permission, retained the right to operate independent currencies within the European Union. The remaining seven states must join the ERM II and attain the third stage and adopt the Euro eventually.