Members of the EMU - Economic and Monetary Union

EMU, the European Monetary Union, is an alliance of the 19 European states that belong to the European Union and have introduced a common currency with the euro. In the proper sense, the Union refers to itself as "European Economic and Monetary Union", i.e. as EMU.

The euro countries cover an area of 2.76 m km² in Europe and have a population of around 342.60 m. In terms of area, this corresponds to about 1.8% of the world's land mass and 4.5% of the world's population. With a money supply of around 12 trillion euros, the currency is one of the few leading currencies in the world. Only the Chinese yuan and the US dollar have a higher money supply.

Map of member countries: EMU - Economic and Monetary Union

Austria19998.88 M84,000 km²
Belgium199911.48 M31,000 km²
Cyprus20081.20 M9,250 km²
Estonia20111.33 M45,000 km²
Finland19995.52 M338,000 km²
France199967.06 M549,000 km²
Germany199983.13 M358,000 km²
Greece200110.72 M132,000 km²
Ireland19994.94 M70,000 km²
Italy199960.30 M301,000 km²
Latvia20141.91 M64,000 km²
Lithuania20152.79 M65,000 km²
Luxembourg19990.62 M2,590 km²
Malta20080.50 M320 km²
Netherlands199917.33 M42,000 km²
Portugal199910.27 M92,000 km²
Slovakia20095.45 M49,000 km²
Slovenia20072.09 M21,000 km²
Spain199947.08 M506,000 km²

Euro zone

All 19 EMU countries have adopted the euro as their currency union. Outside the EU, other countries have the Euro as their official currency. These in Europe are Andorra, Kosovo, Monaco, Montenegro, San Marino and the Vatican. In addition, some dependent territories of the EU states have adopted the euro, but some are neither EU nor EMU members. These are, for example, the Dutch and French overseas territories in the Caribbean, the Indian Ocean and the Pacific.

Common economic objectives

The common goal of the Union is the further development and stabilisation of the European internal market. One of the Union's primary objectives is to maintain the price level and currency stability of the euro. All states of the European Union participate in the economic union, but not in the monetary union. In other words, Bulgaria, Denmark, Croatia, Poland, Romania, Sweden, the Czech Republic, Hungary and the United Kingdom also participate. These countries are exempted from EMU, but do not yet have to complete the third stage of the introduction of the euro.

Entry criteria

The basic prerequisite for admission to EMU is membership of the European Union. Even financially strong and stable countries outside the EU cannot therefore become Alliance members. In addition, strict conditions are imposed on the economy of a candidate country. For example, the inflation rate must not be lower than 1.5% of the most price stable EMU country. More than 60% of the country must not be indebted and the new debt must be less than 3%. It should be noted that these are admission criteria. If a member state no longer meets these criteria after admission, it does not automatically drop out. The question as to whether, for example, Greece could be excluded from EMU by force because it no longer fulfilled the admission criteria has so far remained unanswered.

Dependent territories

Some of the above member states have other dependent outlying areas. These are not independent states, but they do have some economic and political autonomy. The treaties concluded by the EMU apply to them at least in part. However, these countries are not listed as official member states.

ÅlandNorthern EuropeTerritory of Finland
ArubaCaribbeanTerritorium des Niederländischen Königreiches
BonaireCaribbeanTerritory of the Netherlands
French Antarctic LandsAntarcticaTerritory of France
French GuianaSouth AmericaTerritory of France
French PolynesiaPolynesiaTerritorium Frankreichs
GuadeloupeCaribbeanTerritory of France
MartiniqueCaribbeanTerritory of France
MayotteEastern AfricaTerritory of France
New CaledoniaMelanesiaTerritorium Frankreichs
ReunionEastern AfricaTerritory of France
Saint BarthelemyCaribbeanTerritory of France
Saint MartinCaribbeanautonomes Territorium des Niederlandischen Königreichs
Saint Pierre and MiquelonNorth AmericaTerritorium Frankreichs
St. MartinCaribbeanTerritory of France
Wallis and FutunaPolynesiaTerritorium Frankreichs