After the United States Dollar (USD), the Euro is the second largest and most traded currency in the world having more than €943 billion in circulation. Due to the highest combined value of banknotes and coins, the Euro has a great role throughout the world and as the result; it is the second most used currency in the world. In 2008, international monetary fund conducted a survey in which the GDP and purchasing power of different currencies were analyzed, and after this survey, the Eurozone was concluded as the second largest economy around the world.
History of the Euro Currency
The provisions in 1992 Maastricht Treaty established the Euro currency. For the participation in the currency, the member states are meant to meet the strict criteria like the deficit budget of less than 3% of their Gross Domestic Product (GDP) , a debt ratio of less than 60% of GDP and the Interest close to the EU average. The name euro was officially adopted in Madrid on 16 December 1995.
Today, the Euro is one the leading and strongest currencies around the world used by more than 334 million Europeans. Following is a list of countries using the euro as their currency.
List of Countries Using the Euro Currency
Andorra la Vella
City of Brussels
City of San Marino
In the few coming years, Latvia and Lithuania are expected to be the part of Eurozone. Although Andorra, Kosovo, Montenegro, Monaco, San Marino and the Vatican city are not the EU member yet these are using Euro as their official currency.
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