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Latest Business News

Euro in Widespread Use Outside EU

Sunday, December 31, 2006 10:10:06 PM
By SLOBODAN LEKIC

 A customer hands over a new five euro bill to buy a 'melange', a traditional Viennese cup of coffee, as the waitress give him the change in euro coins, in a cafe in downtown Vienna, in this Jan. 1, 2002, file photo. The surging euro is confounding critics who once doubted it could rival the U.S. dollar, British pound and Japanese yen, but Europe's shared currency still annoys some consumers five years after its introduction in cash form.  (AP Photo/Martin Gnedt, file)BRUSSELS, Belgium (AP) - Slovenia converts to the euro on Monday, officially becoming the 13th member of the eurozone — and the first among the EU's newest members to qualify to use the currency.

But at least half a dozen other European ministates and territories are using the currency as legal tender — without approval from the European Central Bank.

The euro was introduced five years ago to provide economic cohesion among EU nations. But euros also are in circulation in dozens of countries and overseas territories ranging from the North Atlantic to the Pacific.


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