In which countries is it possible to pay in euro?

Updated: 17.03.2011

The euro is the legal tender in seventeen EU Member States, six other European countries, and territories and islands that belong to the EU Member States or are otherwise related to them. The euro was introduced as an accounting currency on 1 January 1999 in eleven Member States of the European Union. Euro cash has been in circulation since 1 January 2002.

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

European countries where the euro is the legal tender: Monaco, San Marino, Vatican City, Andorra, Montenegro and Kosovo.

Overseas departments, territories and islands that belong to eurozone countries or are related to them: Guadeloupe, French Guiana, Mayotte, Réunion, Saint-Pierre and Miquelon, and French Southern and Antarctic Lands.

 

Not all Member States of the European Union have adopted the euro.

In order to join the eurozone, countries first have to join the exchange rate mechanism ERM2 and participate in it for a minimum of two years. After that the compliance of the country’s economic and legal environment with the requirements of the eurozone will be assessed. In addition to the seventeen countries of the euro area, another three European Union countries are members of the ERM2 and several other countries are also planning to join the ERM2. This means that the euro area may expand by a number of countries within the next five years. Great Britain and Denmark are exempted from adopting the euro, but other EU Member States are obliged to perform the changeover.

 

Is it currently possible to exchange German marks, Finnish marks or French francs in Estonia?

With the adoption of the euro in the Member States of the European Economic and Monetary Union (EMU) at the beginning of 2002, the national currencies of these countries were removed from circulation. Eesti Pank does not have comprehensive information on which currencies are exchanged by commercial banks or currency exchange bureaux. For more detailed or up-to-date information you should contact a particular bank or a currency exchange bureau.

If the banks or currency exchange bureaux do not exchange the former currencies of the EMU Member States, you can always contact the central bank of the country whose currency you wish to exchange. The following table shows the closing dates of exchange of the former national currencies of the EMU Member States:

 

Exchange of former national currencies

Central bank 

Banknotes until

Coins until

Belgium

Unlimited

31/12/04

Germany

Unlimited

Unlimited

Greece

01/03/12

01/03/04

Spain

Unlimited

Unlimited

France

17/02/12

17/02/05

Ireland

Unlimited

Unlimited

Italy

29/02/12

29/02/12

Luxembourg

Unlimited

31/12/04

Holland*

01/01/32

01/01/07

Austria

Unlimited

Unlimited

Portugal

28/02/22

31/12/02

Finland

29/02/12

29/02/12

Cyprus

31/12/17

31/12/09

Malta

31/01/18

01/02/10

Slovenia

Unlimited

31/12/16

Slovakia

Unlimited

31/12/13

Estonia

Unlimited

Unlimited

 

* Dutch guilders (banknotes and coins) are exchanged by the Central Bank of the Netherlands on the condition that they have not been acquired in the course of business activities after 27.10.2002. Additional information is available on the website of the Central Bank of the Netherlands.