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European Countries Not in the Euro

June 1st · No Comments

Whether or not a country in Europe is using the Euro can get a little complicated. All European Union member states, except Denmark and the United Kingdom, are required to join the euro when they satisfy the convergence criteria set out in the Maastricht treaty. There are economic benchmarks a country must meet in order to be given entry into the Euro.

As such, many of the countries geographically located in Europe who don’t use the Euro are in the less economically developed regions of eastern Europe. The rest choose not to be included, such as the UK, Denmark, and Switzerland.

Here are the European countries not in the Euro (some are slated for official entry, as has been noted):

  • United Kingdom
  • Albania
  • Belarus
  • Bosnia Herzegovina
  • Bulgaria – estimated to join 2014
  • Croatia
  • Czech Republic – estimated to join in 2015
  • Denmark
  • Estonia – set to join Euro on Jan 1, 2011
  • Hungary
  • Latvia – set to join Euro on Jan 1, 2014
  • Liechtenstein – is in a customs and monetary union with Switzerland
  • Lithuania – estimated to join in2014
  • FYR Macedonia (Former Yugoslav Republic of Macedonia)
  • Poland – estimated to join in 2015
  • Romania – estimated to join in 2015
  • Serbia
  • Sweden
  • Switzerland /li>
  • Norway

So if your travels take you to any of those countries, be prepared to convert some currency. Many places will probably still accept the euro but you’ll be paying a healthy premium (they still have to convert the cash, so you’re paying them to do it) on the conversion rate. It’s often best to convert it yourself at a hotel or bank, not on the street.

Filed Under: Money Tips

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