Third-country Economic Relationships With The European Union - Eurozone-related

Eurozone-related

There are countries which, though not official members of the Eurozone, still use the Euro as legal or de facto currency, through official agreements with the EU. These are European microstates which are largely economically dependent on their larger Eurozone-member neighbours.

  • San Marino: San Marino is not a member of the EU, but had a special agreement with Italy to mint a limited number of Lira coins. With the passage to the Euro, the agreement was updated so that San Marino could mint specific Euro coins that can be used in all the Eurozone.
  • Vatican City: The Vatican City State is not part of the EU, but like San Marino, there is an agreement to mint its own coins (limited) which are legal tender in the Eurozone.
  • Monaco: Monaco is not a member of the EU, but French VAT applies. The Monegasque state had a special agreement with France (and now the EU) to mint its own coinage, which is legal tender in all the Eurozone.

Some other countries unilaterally decided to use the Euro without having currently a formal agreement with the EU.

Read more about this topic:  Third-country Economic Relationships With The European Union