Currencies of the European Union - wikipedia Currencies of the European Union EU GDP by currency group Eurozone ( 72.9 % ) Non-Eurozone ( Minus UK ) ( 12 % ) United Kingdom ( 15.1 % ) There are eleven currencies of the European Union as of 2015 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. Contents 1 Euro 2 Current currencies 3 Historic currencies 4 See also 5 Notes 6 References Euro Further information : Eurozone, Opt - outs in the European Union, and Enlargement of the eurozone The euro is the result of the European Union 's project for economic and monetary union which came fully 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 their currency, thus replacing their current ones. The relationship between euro and non-euro states has been on debate both during the UK 's membership ( as a large opt - out state ) and in light of withdrawal from the EU and how that impacts the balance of power between those in and out of the euro ; namely avoiding a eurozone caucus out - voting non-euro states. The UK had called for the EU treaties to recognise the EU as a `` multicurrency union '', which sparked concerns about undermining euro adoption in remaining countries. Current currencies Map of currencies used within the EU and dates of Euro adoption States which used the euro from 1999 ( currency entered circulation 2002 ) States which subsequently adopted the euro States using other currencies The following are official and unofficial currencies used within the borders of the European Union ; Currency Region Symbol ISO Peg Notes Bulgarian lev Bulgaria лв BGN Currency board British pound sterling Gibraltar pound United Kingdom Gibraltar £ GBP GIP Floating Pegged to pound sterling Croatian kuna Croatia kn HRK Floating Czech koruna Czech Republic Kč CZK Floating Danish krone Denmark kr DKK ERM II Euro Eurozone Austria Belgium Cyprus Estonia Finland France Germany Greece Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain € EUR Floating Also used by EU institutions Hungarian forint Hungary Ft HUF Floating Polish złoty Poland zł PLN Floating Romanian leu Romania Leu RON Floating Swedish krona Sweden kr SEK Floating Swiss franc Campione d'Italia ( Italy ) Büsingen am Hochrhein ( Germany ) Fr. CHF Floating Swiss franc is issued by Switzerland. Turkish lira Northern Cyprus ( Cyprus ) TL TRY Floating Turkish lira is issued by Turkey Note that there are other currencies used in overseas territories of member states. Those territories however are not part of the European Union proper ( legally subject to all its law ) so are not listed here. Historic currencies Further information : History of the euro Currency State Symbol ISO Completely Yielded on Rate to euro Notes Austrian schilling Austria S or öS ( ATS ) 1999 / 2002 13.7603 Belgian franc Belgium fr. ( BEF ) 1999 / 2002 40.3399 Interchangeable with Luxembourgian franc ( BLEU ) Cypriot pound Cyprus £ ( CYP ) 2008 0.585274 Dutch guilder Netherlands ƒ or fl. ( NLG ) 1999 / 2002 2.20371 Estonian kroon Estonia Kr ( EEK ) 2011 15.6466 Finnish markka Finland mk ( FIM ) 1999 / 2002 5.94573 French franc France ₣, F or FF ( FRF ) 1999 / 2002 6.55957 Linked to Monegasque franc, both valid in France, Andorra and Monaco. German mark Germany DM ( DEM ) 1999 / 2002 1.95583 Greek drachma Greece Δρχ., Δρ. or ₯ ( GRD ) 2001 / 2002 340.75 Irish pound Ireland £ ( IEP ) 1999 / 2002 0.787564 Italian lira Italy ₤, L. or LIT ( ITL ) 1999 / 2002 1,936.27 Linked to Sammarinese & Vatican lira, all valid in Italy, San Marino and the Vatican City. Latvian lats Latvia Ls ( LVL ) 2014 0.702804 Lithuanian litas Lithuania Lt ( LTL ) 2015 3.4528 Luxembourgian franc Luxembourg fr. or F ( LUF ) 1999 / 2002 40.3399 Interchangeable with Belgian franc ( BLEU ). Maltese lira Malta ₤ or Lm ( MTL ) 2008 0.4293 Portuguese escudo Portugal S ‖ ( displaystyle mathrm ( S ) ! ! ! Vert ) or $ ( PTE ) 1999 / 2002 200.482 Slovak koruna Slovakia Sk ( SKK ) 2009 30.126 Slovenian tolar Slovenia SIT ( SIT ) 2007 239.64 Spanish peseta Spain ₧ ( ESP ) 1999 / 2002 166.386 European Currency Unit Accounting only ₠, ECU or XEU ( XEU ) 1999 / 2002 Accounting currency alongside national currencies until the euro introduction. See also Economy of the European Union List of currencies in Europe Notes References ^ Jump up to : The Eurozone seeks a post-Brexit balance, European Data Journalism Network 15 December 2017 Jump up ^ The euro, European Commission Jump up ^ UK call for ' multicurrency ' EU triggers ECB alarm, Financial Times 4 December 2015 Jump up ^ The Great British Euro Conundrum, Handelsblatt 20 June 2016 Jump up ^ What a fair relationship between ' euro ins ' and ' euro outs ' could look like, London School of Economics 26 January 2016 Jump up ^ Swiss franc is the official currency and euro is widely accepted. Jump up ^ The euro is the official currency but the Swiss franc is more widely used due to it being a Swiss enclave. Jump up ^ EU law is suspended in Northern Cyprus, and the Turkish Cypriot government who use the Turkish lira are not recognised as the legitimate government of the region. Nevertheless, the euro does circulate widely. Jump up ^ Replaced alongside French franc with euro Jump up ^ Replaced alongside Italian lira with euro Euro topics General Economic and Monetary Union of the European Union Euro sign Eurozone Linguistic issues Administration European Central Bank ECB President European System of Central Banks Eurosystem Ecofin Eurogroup Euro summit Fiscal provisions Stability and Growth Pact European Financial Stability Facility European Financial Stabilisation Mechanism European Stability Mechanism Euro Plus Pact Six pack European Fiscal Compact History `` Snake in the tunnel '' European Monetary System I ECU II ERM III EMU European Monetary Cooperation Fund European Monetary Institute Enlargement Black Wednesday Economy Economy of Europe Economy of the European Union Eonia Euro calculator Euro Interbank Offered Rate ( Euribor ) Single Euro Payments Area ( SEPA ) International status Proposed eurobonds Reserve currency Petroeuro World currency Denominations coins 1c 2c 5c 10c 20c 50c € 1 € 2 € 2 commemorative coins Other commemorative coins Identifying marks Starter kits Europa coin programme Euro mint banknotes € 5 € 10 € 20 € 50 € 100 € 200 € 500 Coins by issuing country EU Austria Belgium Cyprus Estonia Finland France Germany Greece Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain Non-EU Andorra Monaco San Marino Vatican Potential adoption by other countries EU Bulgaria Croatia Czech Republic Denmark Hungary Poland Romania Sweden Non-EU Kosovo Montenegro Currencies yielded European Currency Unit Austrian schilling Belgian franc Cypriot pound Dutch guilder Estonian kroon Finnish markka French franc German mark Greek drachma Irish pound Italian lira Latvian lats Lithuanian litas Luxembourgish franc Maltese lira Monégasque franc Portuguese escudo Sammarinese lira Slovak koruna Slovenian tolar Spanish peseta Vatican lira Currencies remaining ERM II Danish krone other ( EU ) British pound sterling ( incl. 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Gibraltar pound ) Bulgarian lev Croatian kuna Czech koruna Danish krone Euro Hungarian forint Polish złoty Romanian leu Swedish krona State economies Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden United Kingdom Dependencies of Denmark Faroe Islands Greenland of France French Polynesia Mayotte New Caledonia Saint Barthélemy Saint Martin Saint Pierre and Miquelon Wallis and Futuna of the Netherlands Aruba Curaçao Sint Maarten of the United Kingdom Anguilla Bermuda British Virgin Islands Cayman Islands Falkland Islands Gibraltar Montserrat Pitcairn Islands Saint Helena Turks and Caicos Islands R&D EU patent EIIT Knowledge triangle International Largest trading partners Free trade agreements Third - country economic relationships European Economic Area Customs Union Transatlantic Economic Council Associations BUSINESSEUROPE European Trade Union Confederation Euro Banking Association Economics Portal European Union Portal Retrieved from `` https://en.wikipedia.org/w/index.php?title=Currencies_of_the_European_Union&oldid=837877458 '' Categories : Economy of the European Union Hidden categories : Articles containing potentially dated statements from 2015 All articles containing potentially dated statements Talk Contents About Wikipedia हिन्दी Italiano Українська Edit links This page was last edited on 23 April 2018, at 15 : 47. 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Question: what is the name given to the common currency to the european union
Answer: The euro; The euro; euro; euro; euro