Euro Law and Legal Definition

The euro (€) is now the standard currency in most countries in continental Europe, with the notable exception of England. As of this writing, the euro is the currency of twelve European Union countries, stretching from the Mediterranean to the Arctic Circle (namely Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland).

Euro banknotes and coins have been in circulation since January 1, 2002 and are now a part of daily life for over 300 million Europeans living in the euro area. The euro not only circulates in the twelve Member States forming the euro area, but also in a number of other European countries and territories, some of which have adopted the euro as their national currency, as well as in certain areas outside the European continent.