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The EU does not use one currency. There are 28 countries in the European Union. 19 of these use the Euro, which is the currency you are probably thinking of. The other 9 countries use their own currencies. They are the Bulgarian lev, British pound sterling, Croatian kuna, Czech koruna, Danish krone, Hungarian forint, Polish złoty, Romanian leu and the Swedish krona.
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What is the current Italian currency?
The euro is the current Italian currency. Italy is a member of the European Union. Use of the euro isn't a requirement of EU membership. For example, Sweden is an EU member that doesn't use the euro. Italy is an example of an EU member that does.
What is the official currency of the EU?
The Euro is the official currency of the European Union, although not all Eu countries use it yet. Its lower denomination is the cent, of which there are 100 to 1 Euro.
What is the EEC currency?
What was once called the EEC, is now the EU or European Union. The EU has many currencies. 18 of its 28 members use the Euro, but as there are other currencies, neither it nor any others can be said to be the EU currency.
How many countries belong to the European union relative to money?
If you mean how many countries in the EU use the EU currency, the Euro, the answer is 17.
What are advantages of using the euro?
The biggest savings is in trade between one country and the EU, or between the EU states. Conversion of currency is complex and needs a vast accounting system. Businesses would need to hedge against currencies if they sell products in different countries that use different currencies. One common currency in the EU makes this process much easier. Another advantage to the EU states is the power of their currency as a reserve currency for the world. A currency held by many states is more attractive as a reserve currency as the market for the currency is more liquid.
Why do England not want to be in the EU?
England, or more correctly, the UK are members of the EU. Though they are not part of the European exchange mechanism and do not use the Euro as currency.
What is special about a Euro?
It's just a form of currency all whom are in the EU can use. For simplicity.
What currency did Belgium use before they joined the EU?
Until 2002 the Belgian Franc
Why did Ireland change ther currency?
As an EU member they had the opportunity to join it. They made the choice to do so. The EU has 27 members of which 17 use the Euro as their currency.
Can the UK rejoin the European Union EU if they find it was a bad decision to leave the EU?
Yes they can but they wouldn't have the concessions that they currently enjoy and they would have to use the Euro as their currency.
What is the name of the currency used in the EU?
EUros
What is the currency of MOST of the EU countries?
the euro
