what is the name given to the common currency to the european union
euro The euro
title: Currencies of the European Union text: into being on 1 January 2002 and it is now the currency used by the majority of European Union's member states, with all but two bound to adopt it. It is the currency used by the institutions of the European Union and in the failed European Constitution it was to be included with the symbols of Europe as the formal currency of the European Union. The euro is also widely used by other states outside the EU. Except for the two states with opt outs, all current and future members of the EU are obliged to adopt the Euro as title: Currencies of the European Union text: EU Member states: Currencies of the European Union There are eleven currencies of the European Union used officially by member states. The euro accounts for the majority of the member states with the remainder operating independent monetary policies. Those European Union states that have adopted it are known as the eurozone and share the European Central Bank (ECB). The ECB and the national central banks of all EU countries, including those who operate an independent currency, are part of the European System of Central Banks. The euro is the result of the European Union's project for economic and monetary union title: Currencies of the European Union text: Currencies of the European Union There are eleven currencies of the European Union used officially by member states. The euro accounts for the majority of the member states with the remainder operating independent monetary policies. Those European Union states that have adopted it are known as the eurozone and share the European Central Bank (ECB). The ECB and the national central banks of all EU countries, including those who operate an independent currency, are part of the European System of Central Banks. The euro is the result of the European Union's project for economic and monetary union which came fully title: Euro text: Euro The euro (sign: €; code: EUR) is the official currency of 19 of member states of the European Union, as well as some of the territories of the EU. This group of states is known as the eurozone or euro area. It is the second largest and second most traded currency in the foreign exchange market after the United States dollar. The euro is subdivided into 100 cents. The currency is also officially used by the institutions of the European Union and its territories, four other European countries, as well as unilaterally by two others, and is consequently used title: Eurozone text: Eurozone The eurozone (), officially called the euro area, is a monetary union of 19 of the 28 European Union (EU) member states which have adopted the euro (€) as their common currency and sole legal tender. The monetary authority of the eurozone is the Eurosystem. The other nine members of the European Union continue to use their own national currencies, although most of them are obliged to adopt the euro in the future. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. Other