The Euro

Welcome to the Treasury’s euro website. On this site you can find documents relating to the UK's Euro Preparations, information about euro notes and coins, and information for business about working with the euro as a foreign currency.

The Euro is the currency of sixteen Member States of the European Union. The following countries have adopted the euro:

1999	Belgium, Germany, Ireland, Spain, France, Italy, Luxembourg, the Netherlands, Austria , Portugal and Finland
2001	Greece
2002	Introduction of euro banknotes and coins
2007	Slovenia
2008	Cyprus, Malta
2009	Slovakia

Government Policy on Membership of the Single Currency

The Government’s Policy on membership of the single currency is unchanged. It remains as set out by the previous Chancellor in his statement to the House of Commons in October 1997, and again in the Chancellor’s last statement on the five tests assessment in June 2003. The determining factor underpinning any Government decision on membership of the single currency is the national economic interest and whether the economic case for joining is clear and unambiguous, as set out by the five economic tests. In principle, we are in favour of UK membership of EMU, in practice, the economic conditions must be right. The Government is committed to ensuring that the UK retains a genuine option to join the single currency, if that is what the Government, Parliament and the people, in a referendum, decide.

Further information is available on the UK Government's policy on Economic and Monetary Union.