History

How the EU works

Organisation of the EU

Symbols of the Union

Significance of the EU

Common currency

Freedom of travel

Internal market

Fundamental rights

Treaty

 

Common currency – the euro

Euro – the common currency of the European Union.

Photo:European Parliament

Previously, every country had a currency of its own. Travellers had to exchange currency – or money – when making a tripbefore they could buy anything in another country.

Now seventeen EU member states use the same money – the euro. These countries are:

Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

The common currency makes travelling and trading easier. At the same time, it has increased competition between companies based in different countries. Comparing prices between countries is easy.