The euro outside the euro area
The euro is the second most important currency in the world for borrowing, lending and central bank reserves.
It is also used as an official or de facto currency as well as an 'anchor' currency by a number of regions geographically outside Europe, including EU outermost regions and overseas territories:
- Azores and Madeira (Portugal)
- Canary Islands (Spain)
- Ceuta and Melilla (Spain)
- French Guyana
- French islands in the Caribbean
- Mayotte and Réunion (France)
- Saint Pierre and Miquelon (France)
In addition to the euro area, the euro is also the currency of some non-EU countries and territories:
- Andorra
- Kosovo*
- Montenegro
- Monaco
- San Marino
- Vatican City
The euro’s stable monetary system makes it an attractive 'anchor' currency: several countries and territories outside both the euro area and the EU have linked their currencies to the euro. In some cases, it is by bilateral agreement with euro area countries, while in others it is a unilateral decision of the country concerned.
*This designation is without prejudice to positions on status, and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.