Editing Euro (section)

==Direct and indirect usage==
{{Further|Eurozone|International status and usage of the euro|Enlargement of the eurozone}}
{{Eurozone labelled map interior}}

===Agreed direct usage with minting rights===
The euro is the sole currency of 20 [[European Union member states|EU member states]]: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. These countries constitute the "[[eurozone]]", some 347&nbsp;million people in total {{As of|2023|lc=y}}.<ref name="2013_data_sheet">{{cite web|url=http://www.prb.org/pdf13/2013-population-data-sheet_eng.pdf|title=2013 World Population Data Sheet|author=Population Reference Bureau|author-link=Population Reference Bureau|access-date=2013-10-01|archive-date=26 February 2015|archive-url=https://web.archive.org/web/20150226072048/http://www.prb.org/pdf13/2013-population-data-sheet_eng.pdf|url-status=dead}}</ref> According to [[International status and usage of the euro#Sovereign states|bilateral agreements with the EU]], the euro has also been designated as the sole and official currency in a further four [[Microstates and the European Union|European microstates]] awarded minting rights (Andorra, Monaco, San Marino and the Vatican City). All other EU member states (except Denmark, which has an [[Danish opt-outs from the European Union|opt-out]]), and any potential future members, are [[enlargement of the eurozone|obliged to adopt the euro]] when economic conditions permit.

===Agreed direct usage without minting rights===
The euro is also the sole currency in three [[Special member state territories and the European Union|overseas territories of France]] that are not themselves part of the EU, namely [[Saint Barthélemy]], [[Saint Pierre and Miquelon]], and the [[French Southern and Antarctic Lands]], as well as in the [[British Overseas Territory]] of [[Akrotiri and Dhekelia]].<ref>{{cite web | title=Sovereign Base areas of Akrotiri and Dhekelia on Cyprus |url=https://commonwealthchamber.com/associated-territories/sovereign-base-areas-of-akrotiri-and-dhekelia-on-cyprus/ |website=Commonwealth Chamber of Commerce}}</ref>

===Unilateral direct usage===
The euro has been adopted unilaterally as the sole currency of Montenegro and Kosovo. It has also been used as a foreign trading currency in Cuba since 1998,<ref>{{cite news| title=Cuba to adopt euro in foreign trade |url=http://news.bbc.co.uk/1/hi/world/americas/210441.stm |work=BBC News |date=8 November 1998 |access-date=2 January 2008}}</ref> Syria since 2006,<ref>{{cite news| title= US row leads Syria to snub dollar | url= http://news.bbc.co.uk/1/hi/business/4713622.stm |work=BBC News |date=14 February 2006 | access-date=2 January 2008}}</ref> and Venezuela since 2018.<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2018-10-16/dollars-are-out-euros-are-in-as-u-s-sanctions-sting-venezuela|title=Dollars Are Out, Euros Are in as U.S. Sanctions Sting Venezuela|last1=Rosati|first1=Andrew|date=17 October 2018|work=[[Bloomberg News|Bloomberg]]|access-date=17 June 2019|last2=Zerpa|first2=Fabiola}}</ref> In 2009, Zimbabwe abandoned its [[Zimbabwean dollar|local currency]] and introduced major global convertible currencies instead, including the euro and the United States dollar. The direct usage of the euro outside of the official framework of the EU affects nearly 3&nbsp;million people.<ref>{{Cite news| title=Zimbabwe: A Critical Review of Sterp |url=http://allafrica.com/stories/200904170690.html |date=17 April 2009 |access-date=30 April 2009}}</ref>

===Currencies pegged to the euro===
{{Main|International status and usage of the euro}}
[[File:DOLLAR AND EURO IN THE WORLD.svg|thumb|upright=1.35|Worldwide use of the euro and the US dollar:
{{Legend|#092D98|[[Eurozone]]}}
{{Legend|#98b3ff|External adopters of the euro}}
{{Legend|#510999|Currencies pegged to the euro}}
{{Legend|#CC99FF|Currencies pegged to the euro within narrow band}}
{{Legend|#099811|United States}}
{{Legend|#99FF9E|External adopters of the US dollar}}
{{Legend|#999909|Currencies pegged to the US dollar}}
{{Legend|#FFFF99|Currencies pegged to the US dollar within narrow band}}
<hr/>
<small>Note: The [[Belarusian rouble]] is pegged to the euro, [[Russian ruble]] and [[United States dollar|US dollar]] in a [[currency basket]].</small>]]

Outside the eurozone, two EU member states have currencies that are [[Fixed exchange rate system|pegged to the euro]], which is a precondition to joining the eurozone. The [[Danish krone]] and [[Bulgarian lev]] are pegged due to their participation in the [[European Exchange Rate Mechanism|ERM&nbsp;II]].

Additionally, a total of 22 countries and territories that do not belong to the EU have currencies that are directly [[Fixed exchange rate system|pegged]] to the euro including 14 countries in mainland Africa ([[CFA franc]]), three African island countries ([[Comorian franc]], [[Cape Verdean escudo]] and [[São Tomé and Príncipe dobra]] (since 1 January 2010)<ref>{{cite web|url=http://www.telanon.info/economia/2010/01/04/2437/1-euro-equivale-a-24500-dobras/|title=1 euro equivale a 24.500 dobras|date=4 January 2009|trans-title=1 euro is equivalent to 24,500 dobras|language=pt|access-date=16 November 2020|publisher=Téla Nón}}</ref>), three French Pacific territories ([[CFP franc]]) and two Balkan countries, Bosnia and Herzegovina ([[Bosnia and Herzegovina convertible mark]]) and North Macedonia ([[Macedonian denar]]).<ref name="Cardoso"/> Additionally, the [[Moroccan dirham]] is tied to a basket of currencies, including the euro and the US dollar, with the euro given the highest weighting.

These countries generally had previously implemented a currency peg to one of the major European currencies (e.g. the [[French franc]], [[Deutsche Mark]] or [[Portuguese escudo]]), and when these currencies were replaced by the euro their currencies became pegged to the euro. Pegging a country's currency to a major currency is regarded as a safety measure, especially for currencies of areas with weak economies, as the euro is seen as a stable currency, prevents runaway inflation, and encourages foreign investment due to its stability.

In total, {{As of|2013|lc=y}}, 182&nbsp;million people in Africa use a currency pegged to the euro, 27&nbsp;million people outside the eurozone in Europe, and another 545,000 people on Pacific islands.<ref name="2013_data_sheet"/>

Since 2005, stamps issued by the [[Sovereign Military Order of Malta]] have been denominated in euros, although the Order's official currency remains the [[Maltese scudo]].<ref name=smom>{{cite web| url = https://www.orderofmalta.int/associate-countries/| title = Retrieved 3 October 2017.}}</ref> The Maltese scudo itself is pegged to the euro and is only recognised as legal tender within the Order.

The currency of a number of states is [[Fixed exchange rate system|pegged]] to the euro. These states are:{{citation needed|date=January 2025}}
{{div col|colwidth=25em}}

'''North America'''
* {{Flagcountry|Haiti}} ([[Haitian gourde]], {{ISO 4217|HTG}})

'''Europe'''
* {{Flagcountry|Albania}} ([[Albanian lek]], {{ISO 4217|ALL}})
* {{Flagcountry|Bosnia and Herzegovina}} ([[Bosnia and Herzegovina convertible mark]], {{ISO 4217|BAM}})
* {{Flagcountry|Bulgaria}} ([[Bulgarian lev]], {{ISO 4217|BGN}})
* {{Flagcountry|Denmark}} ([[Danish krone]], {{ISO 4217|DKK}})
* {{Flagcountry|North Macedonia}} ([[Macedonian denar]], {{ISO 4217|MKD}})<ref name="Cardoso">{{cite web |last=Cardoso |first=Paulo |title=Interview&nbsp;– Governor of the National Bank of Macedonia&nbsp;– Dimitar Bogov |url=http://www.the-american-times.com/american-times-governor-national-bank-macedonia-dimitar-bogov/2013/10/05 |work=The American Times United States Emerging Economies Report (USEER Report) |publisher=Hazlehurst Media SA |access-date=8 September 2013 |archive-url=https://web.archive.org/web/20131020073010/http://www.the-american-times.com/american-times-governor-national-bank-macedonia-dimitar-bogov/2013/10/05 |archive-date=20 October 2013 |url-status=dead }}</ref>
* {{Flagcountry|Sovereign Military Order of Malta}} ([[Maltese scudo]])<ref>{{Cite web |title=Numismatica|url=https://www.ordinedimaltaitalia.org/article/numismatica |access-date=2022-04-30 |website=Ordine di Malta Italia}}</ref>
* {{Flagcountry|Moldova}} ([[Moldovan leu]], {{ISO 4217|MDL}})
* {{Flagcountry|Romania}} ([[Romanian leu]], {{ISO 4217|RON}})
* {{Flagcountry|Serbia}} ([[Serbian dinar]], {{ISO 4217|RSD}})

'''Oceania'''
* {{Flagcountry|French Polynesia}} ([[CFP franc]], {{ISO 4217|XPF}})
* {{Flagcountry|New Caledonia}}  (CFP franc)
* {{Flagcountry|Wallis and Futuna}} (CFP franc)

'''Africa'''
* {{Flagcountry|Burundi}} ([[Burundi franc]], {{ISO 4217|BIF}})
* {{Flagcountry|Cape Verde}} ([[Cape Verdean escudo]], {{ISO 4217|CVE}})
* {{Flagcountry|Cameroon}} ([[Central African CFA franc]], {{ISO 4217|XAF}})
* {{Flagcountry|Central African Republic}} (Central African CFA franc)
* {{Flagcountry|Chad}} (Central African CFA franc)
* {{Flagcountry|Equatorial Guinea}} (Central African CFA franc)
* {{Flagcountry|Gabon}} (Central African CFA franc)
* {{Flagcountry|Republic of the Congo}} (Central African CFA franc)
* {{Flagcountry|Comoros}} ([[Comorian franc]], {{ISO 4217|KMF}})
* {{Flagcountry|Democratic Republic of the Congo}} ([[Congolese franc]], {{ISO 4217|CDF}})
* {{Flagcountry|Djibouti}} ([[Djibouti franc]], {{ISO 4217|DJF}})
* {{Flagcountry|Eritrea}} ([[Eritrean nakfa]], {{ISO 4217|ERN}})
* {{Flagcountry|Ethiopia}} ([[Ethiopian birr]], {{ISO 4217|ETB}})
* {{Flagcountry|Gambia}} ([[Gambian dalasi]], {{ISO 4217|GMD}})
* {{Flagcountry|Guinea}} ([[Guinean franc]], {{ISO 4217|GNF}})
* {{Flagcountry|Madagascar}} ([[Malagasy ariary]], {{ISO 4217|MGA}})
* {{Flagcountry|Mozambique}} ([[Mozambique metical]], {{ISO 4217|MZN}})
* {{Flagcountry|Rwanda}} ([[Rwanda franc]], {{ISO 4217|RWF}})
* {{Flagcountry|Sahrawi Arab Democratic Republic}} ([[Sahrawi peseta]])
* {{Flagcountry|São Tomé and Príncipe}} ([[São Tomé and Príncipe dobra]], {{ISO 4217|STN}})
* {{Flagcountry|Sierra Leone}} ([[Sierra Leonean leone]], {{ISO 4217|SLE}})
* {{Flagcountry|Benin}} ([[West African CFA franc]], {{ISO 4217|XOF}})
* {{Flagcountry|Burkina Faso}} (West African CFA franc) 
* {{Flagcountry|Côte d'Ivoire}} (West African CFA franc) 
* {{Flagcountry|Guinea-Bissau}} (West African CFA franc) 
* {{Flagcountry|Mali}} (West African CFA franc) 
* {{Flagcountry|Niger}} (West African CFA franc) 
* {{Flagcountry|Senegal}} (West African CFA franc) 
* {{Flagcountry|Togo}} (West African CFA franc)
{{div col end}}

===Use as reserve currency===
Since its introduction in 1999, the euro has been the second most widely held international [[reserve currency]] after the U.S. dollar. The share of the euro as a reserve currency increased from 18% in 1999 to 27% in 2008. Over this period, the share held in U.S. dollar fell from 71% to 64% and that held in RMB fell from 6.4% to 3.3%. The euro inherited and built on the status of the [[Deutsche Mark]] as the second most important reserve currency. The euro remains underweight as a reserve currency in advanced economies while overweight in emerging and developing economies: according to the [[International Monetary Fund]]<ref name="external1">{{cite web|url=http://www.imf.org/external/np/sta/cofer/eng/cofer.pdf |title=Currency Composition of Official Foreign Exchange Reserves (COFER)&nbsp;– Updated COFER tables include first quarter 2009 data. June&nbsp;30, 2009 |access-date=8 July 2009}}</ref> the total of euro held as a reserve in the world at the end of 2008 was equal to $1.1&nbsp;trillion or €850&nbsp;billion, with a share of 22% of all currency reserves in advanced economies, but a total of 31% of all currency reserves in emerging and developing economies.

The possibility of the euro becoming the first international reserve currency has been debated among economists.<ref>{{cite web |url=http://www.wage.wisc.edu/uploads/Working%20Papers/chinnfrankel_NBER_eurotopcurrency.pdf |title=Will the Euro Eventually Surpass the Dollar As Leading International Reserve Currency? |access-date=17 July 2011 |url-status=dead |archive-url=https://web.archive.org/web/20130825070016/http://www.wage.wisc.edu/uploads/Working%20Papers/chinnfrankel_NBER_eurotopcurrency.pdf |archive-date=25 August 2013 }}</ref> Former [[Federal Reserve]] Chairman [[Alan Greenspan]] gave his opinion in September 2007 that it was "absolutely conceivable that the euro will replace the US dollar as reserve currency, or will be traded as an equally important reserve currency".<ref>{{Cite news| title=Euro could replace dollar as top currency&nbsp;– Greenspan | url=https://www.reuters.com/article/bondsNews/idUSL1771147920070917 | access-date=17 September 2007 | date=17 September 2007 |work=Reuters}}</ref> In contrast to Greenspan's 2007 assessment, the euro's increase in the share of the worldwide currency reserve basket has slowed considerably since 2007 and since the beginning of the worldwide [[credit crunch]] related recession and [[European debt crisis|European sovereign-debt crisis]].<ref name="external1"/>