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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 million km² in Europe and have a population of around 342.60 million. 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.
CountryCommencementRegionAreaPopulation
Austria1999Western Europe84,000 km²8.88 M
Belgium1999Western Europe31,000 km²11.48 M
Cyprus2008Western Asia9,250 km²1.20 M
Estonia2011Northern Europe45,000 km²1.33 M
Finland1999Northern Europe338,000 km²5.52 M
France1999Western Europe549,000 km²67.06 M
Germany1999Western Europe358,000 km²83.13 M
Greece2001Southern Europe132,000 km²10.72 M
Ireland1999British Isles70,000 km²4.94 M
Italy1999Southern Europe301,000 km²60.30 M
Latvia2014Northern Europe64,000 km²1.91 M
Lithuania2015Northern Europe65,000 km²2.79 M
Luxembourg1999Western Europe2,590 km²0.62 M
Malta2008Southern Europe320 km²0.50 M
Netherlands1999Western Europe42,000 km²17.33 M
Portugal1999Southern Europe92,000 km²10.27 M
Slovakia2009Eastern Europe49,000 km²5.45 M
Slovenia2007Southern Europe21,000 km²2.09 M
Spain1999Southern Europe506,000 km²47.08 M



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.

CountryRegionDependency
Åland IslandsNorthern EuropeTerritory of Finland
ArubaCaribbeanTerritorium des Niederländischen Königreiches
Bonaire, Saint Eustatius and SabaCaribbeanTerritory of the Netherlands
French GuianaSouth AmericaTerritory of France
French PolynesiaPolynesiaTerritorium Frankreichs
French Southern and Antarctic LandsAntarcticaTerritory of France
GuadeloupeCaribbeanTerritory of France
MartiniqueCaribbeanTerritory of France
MayotteEastern AfricaTerritory of France
New CaledoniaMelanesiaTerritorium Frankreichs
ReunionEastern AfricaTerritory of France
Saint BarthelemyCaribbeanTerritory of France
Saint MartinCaribbeanTerritory of France
Saint Pierre and MiquelonNorth AmericaTerritorium Frankreichs
Sint MaartenCaribbeanautonomes Territorium des Niederlandischen Königreichs
Wallis and FutunaPolynesiaTerritorium Frankreichs