Speaking of the eurozone is this referring to the set of countries belonging to the European union that have embraced the euro as its official currency seen otherwise meaning a monetary union between countries belonging to the euro area. The conformation of this eurozone occurred from January 1 of the year 1999 as a general acceptance of the euro as the currency to be used in most of Europe. As a means of control that applies to the present in the eurozone currency, presented a monetary authority responsible for controlling the eurozone, which is the Eurosystem, which is directed by the European central bank as core or main point and has the intervention of the different national central banks of the countries belonging to the euro zone and therefore used the euro. It must be clarified that the Eurosystem was born within the eurozone since not all countries belonging to the European union welcomed the implementation of the euro as its official currency, which gave way to the authority which had ordered monetary policy of the European Union remain without authority, i.e. the ESCB, since this formed both by the countries that comprise the eurozone, as those who have not embraced the euro. The eurozone this complies by 15 countries among which are: Germany, Austria, Belgium, Cyprus, Slovenia, Spain, Finland, France, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands and Portugal, of which the most recent they were integrated are Cyprus and Malta, which is added to that from 1 January of the year 2009 entered a part of the eurozone Slovakia.
The countries belonging to the European union that do not stop in the eurozone, are: Bulgaria, Denmark, the United Kingdom, Sweden, Slovakia, Estonia, Hungary, Latvia, Lithuania, Poland, the Czech Republic and Romania, with the exception made on Slovakia, which adopted the euro and therefore entered to belong to the eurozone for this year 2009. It must be borne in mind that States such as San Marino, the Vatican and Monaco, despite not belonging to the European union make use of the euro, since coins coins which applied previously were replaced by the euro. These three States issued coins with the symbol of their own nation, which are located on the reverse; so the use of the euro takes place and has relationship with the eurozone because of the established agreements with a certain Member States of the eurozone, which in the case of the Vatican and San marino with Italy, while in the case of Monaco it is with France. At this point it is worth to highlight that there are a few French territories (Mayotte and Saint Pierre and Miquelon) which use the euro by agreement with the European union, are not however allowed to Mint its own coins. Within which means the eurozone, the European union and the euro, it is worth saying that there are other countries that use the euro without joining the EU nor have any agreement with this, by way of example, Kosovo and Montenegro are. Original author and source of the article
