Launched in 1999 as part of the EU’s integration as the European Economic and Monetary Union (EMU), the euro was strictly an electronic currency until the introduction of paper notes and coins denominated in euros in 2002. The euro is sometimes abbreviated as “EUR.”
The euro is the sole legal tender in the EU member states that have adopted it, including Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. These countries form the eurozone, a region where the euro serves as the common currency. Four small non-EU nations (Andorra, Vatican City, San Marino, and Monaco) also use the euro as their official currency and several countries have currencies pegged to the euro.
