text:
Eurozone
From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Eurozone, or euro area
Austria
Belgium
Cyprus
Finland
Estonia
France
Greece
Germany
Ireland
Italy
Latvia
Lithuania
Lux.
Malta
Netherlands
Portugal
Slovakia
Slovenia
Spain
Andorra
Monaco
San Marino
Vatican
Kosovo
Mont.
Eurozone members
Monetary agreement
Unilaterally adopted
Policy of
European Union
Type
Monetary union
Currency
Euro
Established
1 January 1999
Members
19 states[show]
Austria
Belgium
Cyprus
Estonia
Finland
France
Germany
Greece
Ireland
Italy
Latvia
Lithuania
Luxembourg
Malta
Netherlands
Portugal
Slovakia
Slovenia
Spain
Future members
Further usage
Governance
Political control
Eurogroup
Group president
Mário Centeno
Issuing authority
European Central Bank
ECB president
Mario Draghi
Statistics
Area
2,753,828 km2
Population(2017)
341,008,867 [1]
Density
124/km2
GDP (Nominal)(2017)
Total: €11.2(~US$14.0) trillion
Per capita: €32,700(~US$41,000)[2]
Interest rate
0.00%[3]
Inflation
0.2%[4]
Unemployment
8.7%[5]
Trade balance
€0.2 trillion trade surplus[6]
European Union
This article is part of a series on the
politics and government of
European Union
Executive[show]
European Council
President Tusk (EPP)
Parties
List of meetings
European Commission
Juncker Commission
President Juncker (EPP)
Vice Presidents
College
Civil Service
Secretary-General Selmayr
Legislature[show]
European Parliament
President Tajani (EPP)
Largest groups
EPP (Manfred Weber)
S&D (Gianni Pittella)
8th session (2014–19)
751 MEPs
Bureau
Vice Presidents
Quaestor
Conference
Legislative procedure
Council of the EU
Presidency
Configurations
General
Foreign
Justice and Home
Economic
Euro
Legislative procedure
Voting
Secretariat
Secretary-General
Uwe Corsepius
Directorates-general
COREPER
Judiciary[show]
Court of Justice
Members
Rulings
General Court
Central Bank[show]
President Draghi
ESCB
Euro
EMU
Eurozone
Court of Auditors[show]
Budget
OLAF
Other bodies[show]
Agencies
Investment Bank
CoR
EESC
Ombudsman
National parliaments
Policies and issues[show]
Foreign relations
High Representative
Federica Mogherini
Ext. Action Service
Foreign Policy
Defence Policy
Customs Union
Enlargement
Budget
Four Freedoms
Economic Area
Area of FS&J
Schengen Area
Policies
Agricultural
Energy
Fisheries
Regional
Citizenship
Identity
Pro-Europeanism
Euroscepticism
Integration
Supranationalism
Federalism
United States of Europe
Multi-speed
Opt-outs
Enhanced co-op
Withdrawal
Elections[show]
1979, 1984, 1989
1994, 1999, 2004, 2009
2014 (last election)
Political parties
Constituencies
Referendums
Law[show]
Treaty on European Union
Acquis
Primacy
Subsidiarity
Treaties
Rome
Single European Act
Maastricht
Amsterdam
Nice
Lisbon
Article 50
Fundamental Rights
Membership
Treaties of Accession
1972, 1979, 1985, 1994, 2003, 2005, 2011
Other countries
Atlas
v
t
e
The eurozone ( pronunciation (help·info)), officially called the euro area,[7] is a monetary union of 19 of the 28 European Union (EU) member states which have adopted the euro (€) as their common currency and sole legal tender. The monetary authority of the eurozone is the Eurosystem. The other nine members of the European Union continue to use their own national currencies, although most of them are obliged to adopt the euro in the future.
The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. Other EU states (except for Denmark and the United Kingdom) are obliged to join once they meet the criteria to do so.[8] No state has left, and there are no provisions to do so or to be expelled.[9] Andorra, Monaco, San Marino, and Vatican City have formal agreements with the EU to use the euro as their official currency and issue their own coins.[10][11][12] Kosovo and Montenegro have adopted the euro unilaterally,[13] but these countries do not officially form part of the eurozone and do not have representation in the European Central Bank (ECB) or in the Eurogroup.[14]
The ECB, which is governed by a president and a board of the heads of national central banks, sets the monetary policy of the zone. The principal task of the ECB is to keep inflation under control. Though there is no common representation, governance or fiscal policy for the currency union, some co-operation does take place through the Eurogroup, which makes political decisions regarding the eurozone and the euro. The Eurogroup is composed of the finance ministers of eurozone states, but in emergencies, national leaders also form the Eurogroup.
Since the financial crisis of 2007–08, the eurozone has established and used provisions for granting emergency loans to member states in return for enacting economic reforms. The eurozone has also enacted some limited fiscal integration, for example in peer review of each other's national budgets. The issue is political and in a state of flux in terms of what further provisions will be agreed for eurozone change.
Contents
[hide]
1 Territory
1.1 European Union member states
1.2 Dependent territories of EU member states — outside EU
1.3 Non-member usage
1.3.1 With formal agreement
1.3.2 Other
1.4 Historical eurozone enlargements and exchange-rate regimes for EU members
1.5 Future enlargement
1.6 Expulsion and withdrawal
2 Administration and representation
2.1 Reform
3 Economy
3.1 Comparison table
3.2 Inflation
3.3 Interest rates
3.4 Public debt
3.5 Fiscal policies
4 Bailout provisions
5 Peer review
6 Criticism
6.1 Economic policemen
7 See also
8 Notes
9 References
10 External links
Territory[edit]
European Union member states[edit]
In 1998 eleven member states of the European Union had met the euro convergence criteria, and the eurozone came into existence with the official launch of the euro (alongside national currencies) on 1 January 1999. Greece qualified in 2000 and was admitted on 1 January 2001 before physical notes and coins were introduced on 1 January 2002 replacing all national currencies. Between 2007 and 2015, seven new states acceded.
State
Adopted
Population[15]
2016
Nominal GNI
2014
(USD,
millions)[16]
Relative GNI
of total, nominal
GNI per
capita
nominal,
2014 (USD)[17]
Pre-euro
currency
Exceptions
ISO
code
Austria 1999-01-01[18] 8,712,137 7005423906000000000♠423,906 7000318000000000000♠3.18% 7004496700000000000♠49,670 Schilling AT
Belgium 1999-01-01[18] 11,358,379 7005530558000000000♠530,558 7000418009999900000♠4.18% 7004472600000000000♠47,260 Franc BE
Cyprus 2008-01-01[19] 1,170,125 7004225190000000000♠22,519 6999180000000000000♠0.18% 7004263700000000000♠26,370 Pound Northern Cyprus[a] CY
Estonia 2011-01-01[20] 1,312,442 7004249940000000000♠24,994 6999200000000000000♠0.20% 7004190300000000000♠19,030 Kroon EE
Finland 1999-01-01[18] 5,503,132 7005264554000000000♠264,554 7000208000000000000♠2.08% 7004484200000000000♠48,420 Markka FI
France 1999-01-01[18] 64,720,690 7006284428400000000♠2,844,284 7001223900000000000♠22.39% 7004429600000000000♠42,960 Franc New Caledonia[b]
French Polynesia[b]
Wallis and Futuna[b] FR
Germany 1999-01-01[18] 81,914,672 7006385362300000000♠3,853,623 7001303400000000000♠30.34% 7004476400000000000♠47,640 Mark DE
Greece 2001-01-01[21] 11,183,716 7005250095000000000♠250,095 7000197000000000000♠1.97% 7004226800000000000♠22,680 Drachma GR
Ireland 1999-01-01[18] 4,726,078 7005214711000000000♠214,711 7000169000000000000♠1.69% 7004465500000000000♠46,550 Pound IE
Italy 1999-01-01[18] 59,429,938 7006214724700000000♠2,147,247 7001169100000000000♠16.91% 7004342700000000000♠34,270 Lira Campione d'Italia[c] IT
Latvia 2014-01-01[22] 1,970,530 7004304130000000000♠30,413 6999240000000000000♠0.24% 7004152800000000000♠15,280 Lats LV
Lithuania 2015-01-01[23] 2,908,249 7004451850000000000♠45,185 6999360000000000000♠0.36% 7004154300000000000♠15,430 Litas LT
Luxembourg 1999-01-01[18] 575,747 7004422560000000000♠42,256 6999330000000000000♠0.33% 7004759900000000000♠75,990 Franc LU
Malta 2008-01-01[24] 429,362 7003888900000000000♠8,889 6998700000000000000♠0.07% 7004210000000000000♠21,000 Lira MT
Netherlands 1999-01-01[18] 16,987,330 7005874590000000000♠874,590 7000689000000000000♠6.89% 7004518900000000000♠51,890 Guilder Aruba[d]
Curaçao[e]
Sint Maarten[e]
Caribbean Netherlands[f] NL
Portugal 1999-01-01[18] 10,371,627 7005222126000000000♠222,126 7000175000000000000♠1.75% 7004213600000000000♠21,360 Escudo PT
Slovakia 2009-01-01[25] 5,444,218 7004962000000000000♠96,200 6999760000000000000♠0.76% 7004177500000000000♠17,750 Koruna SK
Slovenia 2007-01-01[26] 2,077,862 7004486250000000000♠48,625 6999380000000000000♠0.38% 7004235800000000000♠23,580 Tolar SI
Spain 1999-01-01[18] 46,347,576 7006136602700000000♠1,366,027 7001107500000000000♠10.75% 7004294400000000000♠29,440 Peseta ES
Eurozone 7008337143810000000♠337,143,810 7007132653780000000♠13,265,378 7002100000000000000♠100% 7004391620000000000♠39,162 N/A N/A EZ[g]
The 2012 data above of eurozone states were published by World Bank in May 2014. Latvia and Lithuania were not in the eurozone in 2012.
Dependent territories of EU member states — outside EU[edit]
Five of the dependent territories of EU member states not part of the EU, have adopted the euro:
Akrotiri and Dhekelia (British territory, with Cyprus ensuring eurozone laws are implemented, adopted 2008-01-01, replacing Cypriot Pound)
Collectivity of Saint Martin (French territory, with France ensuring eurozone laws are implemented)
Territorial collectivity of Saint Barthélemy (French territory, with France ensuring eurozone laws are implemented)
Overseas Collectivity of Saint-Pierre and Miquelon (French territory, with France ensuring eurozone laws are implemented)
French Southern and Antarctic Lands (French territory, with France ensuring eurozone laws are implemented)
Non-member usage[edit]
Further information: International status and usage of the euro
Eurozone participation
European Union (EU) member states
19 in the eurozone.
7 not in ERM II, but obliged to join the eurozone on meeting convergence criteria (Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, and Sweden).
1 in ERM II, with an opt-out (Denmark).
1 not in ERM II with an opt-out (United Kingdom).
Non-EU member states
4 using the euro with a monetary agreement (Andorra, Monaco, San Marino, and Vatican City).
2 using the euro unilaterally (Kosovo[h] and Montenegro).
v
t
e
With formal agreement[edit]
The euro is also used in countries outside the EU. Four states – Andorra, Monaco, San Marino, and Vatican City —[10][13] have signed formal agreements with the EU to use the euro and issue their own coins. Nevertheless, they are not considered part of the eurozone by the ECB and do not have a seat in the ECB or Euro Group.
Other[edit]
Kosovo[i] and Montenegro officially adopted the euro as their sole currency without an agreement and, therefore, have no issuing rights.[13] These states are not considered part of the eurozone by the ECB. However, sometimes the term eurozone is applied to all territories that have adopted the euro as their sole currency.[27][28][29] Further unilateral adoption of the euro (euroisation), by both non-euro EU and non-EU members, is opposed by the ECB and EU.[30]
Historical eurozone enlargements and exchange-rate regimes for EU members[edit]
Further information: History of the euro
The chart below provides a full summary of all applying exchange-rate regimes for EU members, since the European Monetary System with its Exchange Rate Mechanism and the related new common currency ECU was born on 13 March 1979. The euro replaced the ECU 1:1 at the exchange rate markets, on 1 January 1999. During 1979-1999, the D-Mark functioned as a de facto anchor for the ECU, meaning there was only a minor difference between pegging a currency against ECU and pegging it against the D-mark.
Sources: EC convergence reports 1996-2014, Italian lira[dead link], Spanish peseta, Portuguese escudo, Finish markka, Greek drachma, UK pound
The eurozone was born with its first 11 member states on 1 January 1999. The first enlargement of the eurozone, to Greece, took place on 1 January 2001, one year before the euro had physically entered into circulation. The next enlargements were to states which joined the EU in 2004, and then joined the eurozone on 1 January in the year noted: Slovenia (2007), Cyprus (2008), Malta (2008), Slovakia (2009), Estonia (2011), Latvia (2014), and Lithuania (2015).
All new EU members joining the bloc after the signing of the Maastricht treaty in 1992 are obliged to adopt the euro under the terms of their accession treaties. However, the last of the five economic convergence criteria which need first to be complied with in order to qualify for euro adoption, is the exchange rate stability criterion, which requires having been an ERM-member for a minimum of two years without the presence of "severe tensions" for the currency exchange rate.
In September 2011, a diplomatic source close to the euro adoption preparation talks with the seven remaining new member states who had yet to adopt the euro (Bulgaria, Czech Republic, Hungary, Latvia, Lithuania, Poland and Romania), claimed that the monetary union (eurozone) they had thought they were going to join upon their signing of the accession treaty may very well end up being a very different union entailing much closer fiscal, economic and political convergence. This changed legal status of the eurozone could potentially cause them to conclude that the conditions for their promise to join were no longer valid, which "could force them to stage new referendums" on euro adoption.[31]
Future enlargement[edit]
Main article: Enlargement of the eurozone
A clickable Euler diagram showing the relationships between various multinational European organisations and agreements.
v
t
e
Nine countries (Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, and the United Kingdom) are EU members but do not use the euro. Before joining the eurozone, a state must spend two years in the European Exchange Rate Mechanism (ERM II). As of January 2017, only the National Central Bank (NCB) of Denmark participates in ERM II.
Denmark and the United Kingdom obtained special opt-outs in the original Maastricht Treaty. Both countries are legally exempt from joining the eurozone unless their governments decide otherwise, either by parliamentary vote or referendum.
The other seven countries are obliged to adopt the euro in future, although the EU has so far not tried to enforce any time plan. They should join as soon as they fulfill the convergence criteria, which include being part of ERM II for two years. Sweden, which joined the EU in 1995 after the Maastricht Treaty was signed, is required to join the eurozone. However, the Swedish people turned down euro adoption in a 2003 referendum and since then the country has intentionally avoided fulfilling the adoption requirements by not joining ERM II, which is voluntary.[32][33]
Interest in joining the eurozone increased in Denmark, and initially in Poland, as a result of the 2008 financial crisis. In Iceland, there was an increase in interest in joining the European Union, a pre-condition for adopting the euro.[34] However, by 2010 the debt crisis in the eurozone caused interest from Poland, as well as the Czech Republic, to cool.[35] Latvia adopted the Euro in 2014, followed by Lithuania in 2015.[36]
Expulsion and withdrawal[edit]
Main article: Withdrawal from the Eurozone
See also: Greek withdrawal from the eurozone
The prevailing legal opinion[37][38] is that there is no provision in any European Union treaty for an exit from the Eurozone. In fact, it has been argued, the Treaties make it clear that the process of monetary union was intended to be "irreversible" and "irrevocable."[38] However, in 2009, a European Central Bank legal study argued that, while voluntary withdrawal is legally not possible, expulsion remains "conceivable."[39] Although an explicit provision for an exit option does not exist, many experts and politicians in Europe, have suggested an option to leave the Eurozone should be included in the relevant treaties.[40] Although the eurozone is open to all EU member states to join once they meet the criteria, the treaty is silent on the matter of states leaving the eurozone, neither prohibiting nor permitting it.[citation needed] Likewise there is no provision for a state to be expelled from the euro.[41] Some, however, including the Dutch government, favour such a provision being created in the event that a heavily indebted state in the eurozone refuses to comply with an EU economic reform policy.[42]
In a Texas law journal, Jens Dammann has argued that even now EU law contains an implicit right for member states to leave the eurozone if they no longer meet the criteria that they had to meet in order to join the eurozone.[43] Furthermore, he has suggested that, under narrow circumstances, the European Union can expel member states from the eurozone.[44]
The outcome of leaving the euro would vary depending on the situation. If the country's own replacement currency was expected to devalue against the euro, the state might experience a large-scale exodus of money, whereas if the currency were expected to appreciate then more money would flow into the economy. A rapidly appreciating currency would be detrimental to the country's exports.[45]
In 2015 Greece's case, one additional problem is that if Greece were to replace the euro with a new currency, this cannot be achieved very quickly. Banknotes must be printed for example, which takes up to six months.[46] The changeover would likely require bank deposits be converted from euros to the new devalued currency. The prospect of this could lead to currency leaving the country and people withdrawing cash, causing a bank run and necessitating capital controls.[47]
Administration and representation[edit]
Further information: European Central Bank, Eurogroup, and Euro summit
Eurogroup President Mário Centeno
The European Central Bank (seat in Frankfurt depicted) is the supranational monetary authority of the eurozone.
The monetary policy of all countries in the eurozone is managed by the European Central Bank (ECB) and the Eurosystem which comprises the ECB and the central banks of the EU states who have joined the eurozone. Countries outside the eurozone are not represented in these institutions. Whereas all EU member states are part of the European System of Central Banks (ESCB), non EU member states have no say in all three institutions, even those with monetary agreements such as Monaco. The ECB is entitled to authorise the design and printing of euro banknotes and the volume of euro coins minted, and its president is currently Mario Draghi.
The eurozone is represented politically by its finance ministers, known collectively as the Eurogroup, and is presided over by a president, currently Mário Centeno. The finance ministers of the EU member states that use the euro meet a day before a meeting of the Economic and Financial Affairs Council (Ecofin) of the Council of the European Union. The Group is not an official Council formation but when the full EcoFin council votes on matters only affecting the eurozone, only Euro Group members are permitted to vote on it.[48][49][50]
Since the global financial crisis of 2007–08, the Euro Group has met irregularly not as finance ministers, but as heads of state and government (like the European Council). It is in this forum, the Euro summit, that many eurozone reforms have been decided upon. In 2011, former French President Nicolas Sarkozy pushed for these summits to become regular and twice a year in order for it to be a 'true economic government'.
Reform[edit]
In April 2008 in Brussels, European Commission President Jean-Claude Juncker suggested that the eurozone should be represented at the IMF as a bloc, rather than each member state separately: "It is absurd for those 15 countries not to agree to have a single representation at the IMF. It makes us look absolutely ridiculous. We are regarded as buffoons on the international scene".[51] In 2017 Juncker stated that he aims to have this agreed by the end of his mandate in 2019.[52] However, Finance Commissioner Joaquín Almunia stated that before there is common representation, a common political agenda should be agreed upon.[51]
Leading EU figures including the Commission and national governments have proposed a variety of reforms to the eurozone's architecture; notably the creation of a Finance Minister, a larger eurozone budget, and reform of the current bailout mechanisms into either a "European Monetary Fund" or a eurozone Treasury. While many have similar themes, details vary greatly.[53][54][55][56]
Economy[edit]
GNI per capita of Eurozone, PPP (current international $). World bank, 2016[57]
Comparison table[edit]
Comparison of eurozone with other economies [58][59] [60]
Population
(billions)
(2017)
GDP PPPa
(trillions USD)
(2017)
Proportion
of world
GDP
at PPP
(2016)
Exports,
% of GDP
(2012)
Imports,
% of GDP
(2012)
Eurozone
0.34 14 11% 27% 25%
European Union
0.51 21 17% 18% 17%
United States
0.33 19 16% 14% 17%
China
1.40 23 18% 26% 24%
India
1.32 9 7% 24% 31%
Japan
0.13 5 4% 15% 17%
^a GDP in PPP, exports/imports of goods and services excluding intra-EU trade.
Comparison of Economies
Economy
Nominal GDP (billions in USD) - 2017
(01) United States
19,337
(02) China
12,362
( -- ) Eurozone
12,270
(03) Japan
5,106
(04) United Kingdom
2,610
(05) India
2,458
(06) Brazil
1,954
(07) Canada
1,627
(08) South Korea
1,521
(09) Russia
1,442
(10) Australia
1,344
(11) Mexico
1,124
(12) Indonesia
1,015
(13) Turkey
770
(14) Saudi Arabia
689
(15) Switzerland
684
(16) Argentina
595
(17) Sweden
532
(18) Poland
488
(19) Iran
438
(20) Nigeria
414
(21) United Arab Emirates
408
The 20 largest economies in the world including Eurozone as a single entity, by Nominal GDP (2017). The values for EU members that are not also eurozone members are listed both separately and as part of the EU.[61]
Inflation[edit]
HICP figures from the ECB, taken from May of each year:
2000: 1.7%
2001: 3.1%
2002: 2.0%
2003: 1.8%
2004: 2.5%
2005: 2.0%
2006: 2.5%
2007: 1.9%
2008: 3.7%
2009: 0.0%
2010: 1.7%
2011: 2.7%
2012: 2.4%
2013: 0.9%
2014: -0,2%
2015: 0.3%
2016: -0.1%
2017: 1.4%
2018: N/A
2019: N/A
Interest rates[edit]
Interest rates for the eurozone, set by the ECB since 1999. Levels are in percentages per annum. Between June 2000 and October 2008, the main refinancing operations were variable rate tenders, as opposed to fixed rate tenders. The figures indicated in the table from 2000 to 2008 refer to the minimum interest rate at which counterparties may place their bids.[3]
Date
Deposit
facility
Main
refinancing
operations
Marginal
lending
facility
1999-01-01 2.00 3.00 4.50
1999-01-04[j] 2.75 3.00 3.25
1999-01-22 2.00 3.00 4.50
1999-04-09 1.50 2.50 3.50
1999-11-05 2.00 3.00 4.00
2000-02-04 2.25 3.25 4.25
2000-03-17 2.50 3.50 4.50
2000-04-28 2.75 3.75 4.75
2000-06-09 3.25 4.25 5.25
2000-06-28 3.25 4.25 5.25
2000-09-01 3.50 4.50 5.50
2000-10-06 3.75 4.75 5.75
2001-05-11 3.50 4.50 5.50
2001-08-31 3.25 4.25 5.25
2001-09-18 2.75 3.75 4.75
2001-11-09 2.25 3.25 4.25
2002-12-06 1.75 2.75 3.75
2003-03-07 1.50 2.50 3.50
2003-06-06 1.00 2.00 3.00
2005-12-06 1.25 2.25 3.25
2006-03-08 1.50 2.50 3.50
2006-06-15 1.75 2.75 3.75
2006-08-09 2.00 3.00 4.00
2006-10-11 2.25 3.25 4.25
2006-12-13 2.50 3.50 4.50
2007-03-14 2.75 3.75 4.75
2007-06-13 3.00 4.00 5.00
2008-07-09 3.25 4.25 5.25
2008-10-08 2.75 4.75
2008-10-09 3.25 4.25
2008-10-15 3.25 3.75 4.25
2008-11-12 2.75 3.25 3.75
2008-12-10 2.00 2.50 3.00
2009-01-21 1.00 2.00 3.00
2009-03-11 0.50 1.50 2.50
2009-04-08 0.25 1.25 2.25
2009-05-13 0.25 1.00 1.75
2011-04-13 0.50 1.25 2.00
2011-07-13 0.75 1.50 2.25
2011-11-09 0.50 1.25 2.00
2011-12-14 0.25 1.00 1.75
2012-07-11 0.00 0.75 1.50
2013-05-08 0.00 0.50 1.00
2013-11-13 0.00 0.25 0.75
2014-06-11 -0.10 0.15 0.40
2014-09-10 -0.20 0.05 0.30
2015-12-09 -0.30 0.05 0.30
2016-03-16 -0.40 0.00 0.25
Public debt[edit]
The following table states the ratio of public debt to GDP in percent for eurozone countries given by EuroStat[62]. The euro convergence criterion is 60%.
Country
2007
2009
2010
2011
2015
2016
2017
Eurozone 64.9 78.5 84.0 86.0 90.7 88.9 86.7
Austria 64.7 79.7 82.4 82.2 86.2 83.6 78.4
Belgium 87.0 99.6 99.7 102.3 106.0 105.7 103.1
Cyprus 53.5 53.9 56.3 65.8 108.9 107.1 97.5
Estonia 3.7 7.0 6.6 5.9 9.7 9.4 9.0
Finland 34.0 41.7 47.1 48.5 63.1 63.1 61.4
France 64.3 79.0 81.7 85.2 95.8 96.5 97.0
Germany 63.7 72.4 81.0 78.3 71.2 68.1 64.1
Greece 103.1 126.7 146.2 172.1 176.9 180.8 178.6
Ireland 23.9 61.8 86.8 109.1 93.8 72.8 68.0
Italy 99.8 112.5 115.4 116.5 132.7 132 131.8
Latvia 8.0 36.6 47.5 42.8 36.4 40.6 40.1
Lithuania 15.9 29.0 36.2 37.2 42.7 40.1 39.7
Luxembourg 7.7 16.0 20.1 19.1 21.4 20.8 23.0
Malta 62.3 67.8 67.6 69.9 63.9 57.6 50.8
Netherlands 42.7 56.5 59.0 61.7 65.1 61.8 56.7
Portugal 68.4 83.6 96.2 111.4 129.0 130.1 125.7
Slovakia 30.1 41.0 43.3 43.3 52.9 51.8 50.9
Slovenia 22.8 36.0 40.8 46.6 83.2 78.5 73.6
Spain 35.6 52.7 60.1 69.5 99.2 99.0 98.3
Fiscal policies[edit]
See also: European Fiscal Compact
Comparison of government surplus/deficit (2001-2012) of eurozone, United States and United Kingdom
The primary means for fiscal coordination within the EU lies in the Broad Economic Policy Guidelines which are written for every member state, but with particular reference to the 19 current members of the eurozone. These guidelines are not binding, but are intended to represent policy coordination among the EU member states, so as to take into account the linked structures of their economies.
For their mutual assurance and stability of the currency, members of the eurozone have to respect the Stability and Growth Pact, which sets agreed limits on deficits and national debt, with associated sanctions for deviation. The Pact originally set a limit of 3% of GDP for the yearly deficit of all eurozone member states; with fines for any state which exceeded this amount. In 2005, Portugal, Germany, and France had all exceeded this amount, but the Council of Ministers had not voted to fine those states. Subsequently, reforms were adopted to provide more flexibility and ensure that the deficit criteria took into account the economic conditions of the member states, and additional factors.
The Organisation for Economic Co-operation and Development downgraded its economic forecasts on 20 March 2008 for the eurozone for the first half of 2008. Europe does not have room to ease fiscal or monetary policy, the 30-nation group warned. For the eurozone, the OECD now forecasts first-quarter GDP growth of just 0.5%, with no improvement in the second quarter, which is expected to show just a 0.4% gain.
The Fiscal Compact[63][64] (formally, the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union),[65] is an intergovernmental treaty introduced as a new stricter version of the Stability and Growth Pact, signed on 2 March 2012 by all member states of the European Union (EU), except the Czech Republic, the United Kingdom,[66] and Croatia (subsequently acceding the EU in July 2013). The treaty entered into force on 1 January 2013 for the 16 states which completed ratification prior of this date.[67] As of 1 April 2014, it had been ratified and entered into force for all 25 signatories.
Olivier Blanchard suggests that a fiscal union in the EZ can mitigate devastating effects of the single currency on the EZ peripheral countries. But he adds that the currency bloc will not work perfectly even if a fiscal transfer system is built, because, he argues, the fundamental issue about competitiveness adjustment is not tackled. The problem is, since the EZ peripheral countries do not have their own currencies, they are forced to adjust their economies by decreasing their wages instead of devaluation.[68]
Bailout provisions[edit]
See also: History of the euro § Recession era
The financial crisis of 2007–08 prompted a number of reforms in the eurozone. One was a u-turn on the eurozone's bailout policy that led to the creation of a specific fund to assist eurozone states in trouble. The European Financial Stability Facility (EFSF) and the European Financial Stability Mechanism (EFSM) were created in 2010 to provide, alongside the International Monetary Fund (IMF), a system and fund to bail out members. However the EFSF and EFSM were temporary, small and lacked a basis in the EU treaties. Therefore, it was agreed in 2011 to establish a European Stability Mechanism (ESM) which would be much larger, funded only by eurozone states (not the EU as a whole as the EFSF/EFSM were) and would have a permanent treaty basis. As a result of that its creation involved agreeing an amendment to TEFU Article 136 allowing for the ESM and a new ESM treaty to detail how the ESM would operate. If both are successfully ratified according to schedule, the ESM would be operational by the time the EFSF/EFSM expire in mid-2013.
In February 2016, the UK secured further confirmation that countries that do not use the Euro would not be required to contribute to bailouts for Eurozone countries.[69]
Peer review[edit]
See also: Euro Plus Pact
In June 2010, a broad agreement was finally reached on a controversial proposal for member states to peer review each other's budgets prior to their presentation to national parliaments. Although showing the entire budget to each other was opposed by Germany, Sweden and the UK, each government would present to their peers and the Commission their estimates for growth, inflation, revenue and expenditure levels six months before they go to national parliaments. If a country was to run a deficit, they would have to justify it to the rest of the EU while countries with a debt more than 60% of GDP would face greater scrutiny.[70]
The plans would apply to all EU members, not just the eurozone, and have to be approved by EU leaders along with proposals for states to face sanctions before they reach the 3% limit in the Stability and Growth Pact. Poland has criticised the idea of withholding regional funding for those who break the deficit limits, as that would only impact the poorer states.[70] In June 2010 France agreed to back Germany's plan for suspending the voting rights of members who breach the rules.[71] In March 2011 was initiated a new reform of the Stability and Growth Pact aiming at straightening the rules by adopting an automatic procedure for imposing of penalties in case of breaches of either the deficit or the debt rules.[72][73]
Criticism[edit]
Nobel prize-winning economist James Tobin thought that the euro project would not succeed without making drastic changes to European institutions, pointing out the difference between the US and the eurozone.[74] Concerning monetary policies, the US central bank FRB aims at both growth and reducing unemployment, while the ECB tends to give its first priority to price stability under Bundesbank's supervision. As the price level of the currency bloc is kept low, the unemployment level of the region has become higher than that of US since 1982.[74]
See also: Phillips curve and Nominal rigidity
When it comes to fiscal policies, 12 percent of the US federal budget is used for transfers to states and local governments. Also, when a state has financial or economic difficulties, a fair amount of money is automatically transferred to the state. The US government does not impose restrictions on state budget policies. This is different from the fiscal policies of the eurozone, where Treaty of Maastricht requires each eurozone member country to run its budget deficit smaller than 3 percent of its GDP.[74]
Economic policemen[edit]
In 1997, Arnulf Baring expressed concern that the European Monetary Union would make Germans the most hated people in Europe. Baring suspected the possibility that the people in Mediterranean countries would regard Germans and the currency bloc as economic policemen.[75]
See also[edit]
European Union portal
Greek withdrawal from the eurozone
List of acronyms associated with the eurozone crisis
List of people associated with the eurozone crisis
Sixpack (European Union law)
Special member state territories and the European Union
Notes[edit]
Jump up ^ The self-declared Turkish Republic of Northern Cyprus is not recognised by the EU and uses the Turkish lira. However the euro does circulate widely.[citation needed]
^ Jump up to: a b c French Pacific territories use the CFP franc, which is pegged to the euro.(1 franc = 0.00838 euro)
Jump up ^ Uses the Swiss franc. However the euro is also accepted and circulates widely.
Jump up ^ Aruba is part of the Kingdom of the Netherlands, but not the EU. It uses the Aruban florin, which is pegged to the US dollar.(1 dollar = 1.79 florins)
^ Jump up to: a b Currently uses the Netherlands Antillean guilder and had planned to introduce the Caribbean guilder in 2014, although the change has been delayed. "Archived copy". Archived from the original on 7 April 2014. Retrieved 16 May 2014. both are pegged to the US dollar.(1 dollar = 1.79 guilder)
Jump up ^ Uses the US Dollar.
Jump up ^ EZ is not assigned, but is reserved for this purpose, in ISO-3166-1.
Jump up ^ Kosovo is the subject of a territorial dispute between the Republic of Kosovo and the Republic of Serbia. The Republic of Kosovo unilaterally declared independence on 17 February 2008, but Serbia continues to claim it as part of its own sovereign territory. The two governments began to normalise relations in 2013, as part of the Brussels Agreement. Kosovo has received formal recognition as an independent state from 113 out of 193 United Nations member states.
Jump up ^ Kosovo is the subject of a territorial dispute between the Republic of Kosovo and the Republic of Serbia. The Republic of Kosovo unilaterally declared independence on 17 February 2008, but Serbia continues to claim it as part of its own sovereign territory. The two governments began to normalise relations in 2013, as part of the Brussels Agreement. Kosovo has received formal recognition as an independent state from 113 out of 193 United Nations member states.
Jump up ^ The ECB announced on 22 December 1998 that, between 4 and 21 January 1999, there would be a narrow corridor of 50 base points interest rates for the marginal lending facility and the deposit facility in order to help the transition to the ECB's interest regime.
References[edit]
Jump up ^ "Total population as of 1 January. Euro area (19 countries)". Epp.eurostat.ec.europa.eu.
Jump up ^ "Gross domestic product at market prices". Epp.eurostat.ec.europa.eu.
^ Jump up to: a b Key ECB interest rates Archived 11 August 2013 at the Wayback Machine., ECB
Jump up ^ HICP – all items – annual average inflation rate Eurostat
Jump up ^ Harmonised unemployment rate by gender – total – [teilm020,; Total % (SA) Eurostat
Jump up ^ For the whole of 2017
Jump up ^ "Countries, languages, currencies". Interinstitutional style guide. the EU Publications Office. Retrieved 2 February 2009.
The euro area Archived 6 August 2013 at the Wayback Machine., European Central Bank
Jump up ^ "Who can join and when?". European Commission. Retrieved 10 September 2012.
Jump up ^ Fox, Benjamin (1 February 2013). "Dutch PM: Eurozone needs exit clause". EUobserver.com. Retrieved 18 June 2013.
^ Jump up to: a b "Agreements on monetary relations (Monaco, San Marino, the Vatican and Andorra)". European Communities. 30 September 2004. Retrieved 12 September 2006.
Jump up ^ "The government announces a contest for the design of the Andorran euros". Andorra Mint. 19 March 2013. Archived from the original on 22 August 2013. Retrieved 26 March 2013.
Jump up ^ "Nouvelles d'Andorre" (in French). 1 February 2013. Archived from the original on 4 October 2013. Retrieved 2 February 2013.
^ Jump up to: a b c "The euro outside the euro area". Europa (web portal). Retrieved 26 February 2011.
Jump up ^ A glossary Archived 14 May 2013 at the Wayback Machine. issued by the ECB defines "euro area", without mention of Monaco, San Marino, or the Vatican.
Jump up ^ "World Population Prospects: The 2017 Revision". ESA.UN.org (custom data acquired via website). United Nations Department of Economic and Social Affairs, Population Division. Retrieved 10 September 2017.
Jump up ^ "Archived copy". Archived from the original on 7 May 2016. Retrieved 23 June 2016.
Jump up ^ "Archived copy". Archived from the original on 28 October 2016. Retrieved 24 February 2016.
^ Jump up to: a b c d e f g h i j k "COUNCIL DECISION of 3 May 1998 in accordance with Article 109j(4) of the Treaty". Official Journal of the European Union. L (139/30). 11 May 1998. Retrieved 27 October 2014.
Jump up ^ "COUNCIL DECISION of 10 July 2007 in accordance with Article 122(2) of the Treaty on the adoption by Cyprus of the single currency on 1 January 2008". Official Journal of the European Union. L (186/29). 18 July 2007. Retrieved 27 October 2014.
Jump up ^ "COUNCIL DECISION of 13 July 2010 in accordance with Article 140(2) of the Treaty on the adoption by Estonia of the euro on 1 January 2011". Official Journal of the European Union. L (196/24). 28 July 2010. Retrieved 27 October 2014.
Jump up ^ "COUNCIL DECISION of 19 June 2000 in accordance with Article 122(2) of the Treaty on the adoption by Greece of the single currency on 1 January 2001". Official Journal of the European Union. L (167/19). 7 July 2000. Retrieved 27 October 2014.
Jump up ^ "COUNCIL DECISION of 9 July 2013 on the adoption by Latvia of the euro on 1 January 2014". Official Journal of the European Union. L (195/24). 18 July 2013. Retrieved 27 October 2014.
Jump up ^ "COUNCIL DECISION of 23 July 2014 on the adoption by Lithuania of the euro on 1 January 2015". Official Journal of the European Union. L (228/29). 31 July 2014. Retrieved 31 December 2014.
Jump up ^ "COUNCIL DECISION of 10 July 2007 in accordance with Article 122(2) of the Treaty on the adoption by Malta of the single currency on 1 January 2008". Official Journal of the European Union. L (186/32). 18 July 2007. Retrieved 27 October 2014.
Jump up ^ "COUNCIL DECISION of 8 July 2008 in accordance with Article 122(2) of the Treaty on the adoption by Slovakia of the single currency on 1 January 2009". Official Journal of the European Union. L (195/24). 24 July 2008. Retrieved 27 October 2014.
Jump up ^ "COUNCIL DECISION of 11 July 2006 in accordance with Article 122(2) of the Treaty on the adoption by Slovenia of the single currency on 1 January 2007". Official Journal of the European Union. L (195/25). 15 July 2006. Retrieved 27 October 2014.
Jump up ^ "European Foundation Intelligence Digest". Europeanfoundation.org. Archived from the original on 26 August 2007. Retrieved 30 May 2010.
Jump up ^ "Euro used as legal tender in non-EU nations". International Herald Tribune. 1 January 2007. Archived from the original on 10 December 2008. Retrieved 22 November 2010.
Jump up ^ "Europe, The eurozone's 13th member". BBC News. 11 December 2001. Retrieved 30 May 2010.
Jump up ^ "Unilateral Euroization By Iceland Comes With Real Costs And Serious Risks". Lawofemu.info. 15 February 2008. Archived from the original on 14 March 2012. Retrieved 28 February 2015.
Jump up ^ "New EU members to break free from euro duty". Euractiv.com. 13 September 2011. Retrieved 7 September 2013.
Jump up ^ "Sverige sa nej till euron" (in Swedish). Swedish Parliament. 28 August 2013. Retrieved 12 August 2014.
Jump up ^ "Information on ERM II". European Commission. 22 December 2009. Retrieved 16 January 2010.
Jump up ^ Dougherty, Carter (1 December 2008). "Buffeted by financial crisis, countries seek euro's shelter". International Herald Tribune. Retrieved 2 December 2008. [dead link]
Jump up ^ "Czechs, Poles cooler to euro as they watch debt crisis". Reuters. 16 June 2010. Retrieved 18 June 2010.
Jump up ^ "Eurozone's newest member: Lithuania". CNNMoney. 2 January 2015. Retrieved 2 January 2015.
Jump up ^ "Brussels: No one can leave the euro" by Leigh Phillips, EUobserver, 8 September 2011
^ Jump up to: a b "The Eurozone crisis – the final stage?" by Charles Proctor, Locke Lord, 15 May 2012
Jump up ^ "Withdrawal and Expulsion from the EU and EMU : Some reflections" by Phoebus Athanassiou, Principal Legal Counsel with the Directorate-General for Legal Service, ECB, 2009
Jump up ^ "German advisory council calls for exit option in the eurozone" by Daniel Tost, EurActiv, 29 July 2015
Jump up ^ Athanassiou, Phoebus (December 2009) Withdrawal and Expulsion from the EU and EMU, Some Reflections (PDF), European Central Bank. Retrieved 8 September 2011
Jump up ^ Phillips, Leigh. "EUobserver / Netherlands: Indebted states must be made 'wards' of the commission or leave euro". Euobserver.com. Retrieved 20 May 2014.
Jump up ^ Dammann, Jens (10 February 2012). "The Right to Leave the Eurozone". U of Texas Law, Public Law Research Paper. 2013. 48 (2). SSRN 2262873  .
Jump up ^ Dammann, Jens (26 August 2015). "Paradise Lost: Can the European Union Expel Countries from the Eurozone". Vanderbilt Journal of Transnational Law. 2016. 49 (2). SSRN 2827699  .
Jump up ^ Eichengreen, Barry (23 July 2011) Can the Euro Area Hit the Rewind Button? (PDF), University of California. Retrieved 8 September 2011
Jump up ^ Wallop, Harry (29 May 2012). "De La Rue silent on deal to print Drachma". The Daily Telegraph. Retrieved 11 February 2015.
Jump up ^ "Take the money and run". The Economist. 28 January 2015. Retrieved 11 February 2015.
Jump up ^ Treaty of Lisbon (Provisions specific to member states whose currency is the euro), EurLex Archived 27 March 2009 at the Wayback Machine.
Jump up ^ "An economic government for the eurozone?" (PDF). Federal Union. Archived from the original (PDF) on 17 July 2011. Retrieved 26 February 2011.
Jump up ^ Protocols, Official Journal of the European Union
^ Jump up to: a b Elitsa Vucheva (15 April 2008). "Eurozone countries should speak with one voice, Juncker says". EU Observer. Retrieved 26 February 2011.
Jump up ^ "Commission wants single eurozone seat at IMF plan adopted by end of mandate", Euractiv, 7 December 2017
Jump up ^ "Macron is right — the eurozone needs a finance minister", Financial Times, 28 September 2017
Jump up ^ Europe should have its own economy and finance minister, says EC, theguardian 6 December 2017
Jump up ^ "Large number of EU finance ministers want euro zone budget: Dijsselbloem", Reuters, 6 November 2017
Jump up ^ "Spain urges sweeping reforms on eurozone to correct flaws", Financial Times, 14 June 2017
Jump up ^ http://data.worldbank.org/indicator/NY.GNP.PCAP.PP.CD?start=2016
Jump up ^ "ECB: Structure of the euro area economy". Ecb.europa.eu. Retrieved 20 May 2014.
Jump up ^ Data (4 April 1985). "GDP, PPP (current international $) | Data | Table". Data.worldbank.org. Retrieved 20 May 2014.
Jump up ^ http://www.imf.org/external/pubs/ft/weo/2016/02/weodata/weorept.aspx?pr.x=70&pr.y=20&sy=2017&ey=2021&scIsm=1&ssd=1&sort=country&ds=.&br=1&c=924%2C534%2C158%2C111&s=PPPGDP%2CLP&grp=0&a=
Jump up ^ Figures from the October 2016 update of the International Monetary Fund's World Economic Outlook Database. [1]
Jump up ^ "General government gross debt - annual data (table code: teina225)". Eurostat. Retrieved 24 April 2018.
Jump up ^ Nicholas Watt (31 January 2012). "Lib Dems praise David Cameron for EU U-turn". The Guardian. London. Retrieved 5 February 2012.
Jump up ^ "The fiscal compact ready to be signed". European Commission. 31 January 2012. Archived from the original on 5 September 2012. Retrieved 5 February 2012.
Jump up ^ "Referendum to be held on Fiscal Treaty". RTÉ News. 28 February 2012.
Jump up ^ "EU summit: All but two leaders sign fiscal treaty". BBC News. 2 March 2012. Retrieved 2 March 2012.
Jump up ^ "Fiscal compact enters into force 21/12/2012 (Press: 551, Nr: 18019/12)" (PDF). European Council. 21 December 2012. Retrieved 21 December 2012.
Jump up ^ Fiscal union will never fix a dysfunctional eurozone, warns ex-IMF chief Blanchard Mehreen Khan, The Daily Telegraph (London), 10 October 2015
Jump up ^ "European Council meeting (18 and 19 February 2016) – Conclusions". European Commission. Retrieved 14 May 2016.
^ Jump up to: a b EU agrees controversial peer review of national budgets, EU Observer
Jump up ^ Willis, Andrew (15 June 2010) Merkel: Spain can access aid if needed, EU Observer
Jump up ^ "Council reaches agreement on measures to strengthen economic governance" (PDF). Retrieved 18 May 2011.
Jump up ^ Jan Strupczewski (15 March 2011). "EU finmins adopt tougher rules against debt, imbalance". Uk.finance.yahoo.com. Yahoo! Finance. Retrieved 18 May 2011. [dead link]
^ Jump up to: a b c J. Tobin, Policy Opinions, 31 (2001)
Jump up ^ This Prediction about the Euro Deserves a ‘Nostradamus Award’ W. Richter, Wolf Street, 16 July 2015
External links[edit]
Wikisource has original text related to this article:
Consolidated version of the Treaty on the Functioning of the European Union/Title VIII: Economic and Monetary Policy
Eurozone official portal
European Central Bank
European Commission – Economic and Financial Affairs – Eurozone
Media related to Eurozone at Wikimedia Commons
hide
v
t
e
Euro topics
General
Economic and Monetary Union of the European Union
Euro sign
Eurozone
Linguistic issues
Administration
European Central Bank
ECB President
European System of Central Banks
Eurosystem
Ecofin
Eurogroup
Euro summit
Fiscal provisions
Stability and Growth Pact
European Financial Stability Facility
European Financial Stabilisation Mechanism
European Stability Mechanism
Euro Plus Pact
Six pack
European Fiscal Compact
History
"Snake in the tunnel"
European Monetary System
I ECU
II ERM
III EMU
European Monetary Cooperation Fund
European Monetary Institute
Enlargement
Black Wednesday
Economy
Economy of Europe
Economy of the European Union
Eonia
Euro calculator
Euro Interbank Offered Rate (Euribor)
Single Euro Payments Area (SEPA)
International status
Proposed eurobonds
Reserve currency
Petroeuro
World currency
Denominations
coins
1c
2c
5c
10c
20c
50c
€1
€2
€2 commemorative coins
Other commemorative coins
Identifying marks
Starter kits
Europa coin programme
Euro mint
banknotes
€5
€10
€20
€50
€100
€200
€500
Coins by issuing country
EU
Austria
Belgium
Cyprus
Estonia
Finland
France
Germany
Greece
Ireland
Italy
Latvia
Lithuania
Luxembourg
Malta
Netherlands
Portugal
Slovakia
Slovenia
Spain
Non-EU
Andorra
Monaco
San Marino
Vatican
Potential adoption by
other countries
EU
Bulgaria
Croatia
Czech Republic
Denmark
Hungary
Poland
Romania
Sweden
Non-EU
Kosovo
Montenegro
Currencies yielded
European Currency Unit
Austrian schilling
Belgian franc
Cypriot pound
Dutch guilder
Estonian kroon
Finnish markka
French franc
German mark
Greek drachma
Irish pound
Italian lira
Latvian lats
Lithuanian litas
Luxembourgish franc
Maltese lira
Monégasque franc
Portuguese escudo
Sammarinese lira
Slovak koruna
Slovenian tolar
Spanish peseta
Vatican lira
Currencies
remaining
ERM II
Danish krone
other (EU)
British pound sterling (incl. Gibraltar pound)
Bulgarian lev
Croatian kuna
Czech koruna
Hungarian forint
Polish złoty
Romanian leu
Swedish krona
European Union portal
Numismatics portal
show
v
t
e
European Union articles
History
Timeline
Pre-1945
1945–57
1958–72
1973–93
1993–2004
Since 2004
Predecessors
Timeline
Founders
European Coal and Steel Community (1951–2002)
European Economic Community (1958–1993/2009)
Euratom (1958–present)
European Communities (1967–1993/2009)
Justice and Home Affairs (1993–2009)
Geography
Extreme points
Geographic centre
Largest municipalities
Urban areas
Larger urban zones
Member states
Regions (first-level NUTS)
Special territories
Politics
Institutions
European Council
European Commission
European Parliament
Council of the European Union
Court of Justice of the European Union
European Central Bank
European Court of Auditors
Agencies
Banking
Border and coast security (Frontex)
Disease prevention and control
Environment
Foreign affairs (External Action Service)
Judicial cooperation (Eurojust)
Law enforcement cooperation (Europol)
Maritime safety
Reconstruction
Law
Acquis
Charter of Fundamental Rights
Competition law
Copyright law
Directive
Citizens’ Rights Directive
Enhanced cooperation
Environmental policy
Four freedoms
labour mobility
Government procurement
Journal
Mechanism for Cooperation and Verification
Legislative procedure
Citizens' Initiative
Regulation
Rural Development Policy
Schengen Area
Treaties
opt-outs
LGBT rights
Politics
Elections
parliamentary constituencies
Enlargement
1973
1981
1986
1995
2004
2007
2013
Future
Euromyths
Political parties (National parties by affiliation)
Euroscepticism
Foreign relations (defence)
Integration
Parliamentary groups
Pro-Europeanism
Withdrawal (Brexit)
2012 Nobel Peace Prize
Economy
Budget
Central bank
Agricultural policy
Fisheries policy
Currencies
Energy policy
Euro
Eurozone
Free trade agreements
Investment bank
Investment fund
Regional development
Single market
Societas Europaea
Solidarity Fund
Transport
Galileo navigation system
minimum wage
average wage
unemployment rate
health expense per person
Healthcare
Health Insurance Card
Driving licence
European Common Aviation Area
Culture
Citizenship
passports
identity cards
Cultural policies
Demographics
Douzelage
Driving licence
Education
House of European History
Institute of Innovation and Technology
Laissez-passer
Languages
Media freedom
Public holidays
Religion
Sport
Telephone numbers
Statistics
Symbols
Lists
Concepts, acronyms, & jargon
Agencies
Books
Companies
Cities with more than 100,000 inhabitants
Largest cities by population within city limits
Directives
Tallest buildings
Terrorist incidents
Vehicle registration plates
Theory
Eurosphere
Intergovernmentalism
Multi-speed
Neofunctionalism
Optimum currency area
Supranational union
Outline
Book
Category
Portal
show
v
t
e
International reach and expansion of the European Union
Theory
Integration
Eurosphere
Pax Europaea
Superpower status
Federalisation
Reach
ACP (Economic Partnership Agreements)
Association Agreement
Free trade agreements
Common Foreign and Security Policy (CFSP)
Common Security and Defence Policy (CSDP) (missions)
European Economic Area
Stabilisation and Association Process
Europeanisation
High Representative (Bosnia)
International Civilian Representative (Kosovo)
Partnerships
European Neighbourhood Policy (statistics)
Eastern Partnership
Northern Dimension
Union for the Mediterranean
Representation
High Representative
President of the European Council
President of the European Commission
Delegations of the European Parliament
Assets
Economy
Euro (International status and usage)
ECHO
Galileo
Military
show
v
t
e
Europe articles
History
Chronology
Prehistory
Classical antiquity
Late antiquity
Middle Ages
Early modernity
World War I & II
Pax Europaea
Crisis situations and unrest since 2000
By topic
Military
Sovereignty
predecessor states
Geography
Areas and populations
Countries by area
European microstates
Largest metropolitan areas
Cities
Extreme points
Geology
Islands
Lakes
Mountains
Rivers
Sovereign states and dependent territories
by population
Villages
Politics
Eurosphere
International organisations
Integration
Law
Politics
Post-Soviet Europe
Transatlantic relations
Intergovernmental
Commonwealth of Independent States (CIS)
Council of Europe (CoE)
Collective Security Treaty Organisation (CSTO)
GUAM Organization
North Atlantic Treaty Organisation (NATO)
Organization for Security and Co-operation in Europe (OSCE)
statistics
European Union
Economy
relations
free trade agreements
Education
European Economic Area (EEA)
European Neighbourhood Policy (ENP)
European Union Customs Union (EUCU)
Eurozone
Foreign relations
Members
enlargement
Politics
Schengen Area
Statistics
Visa policy
Economy
History
Financial (and social) rankings
Free trade areas
Energy
Telecommunications
Transport
Intergovernmental
Central European Free Trade Agreement (CEFTA)
Customs Union of Belarus, Kazakhstan, and Russia (CUBKR)
Eurasian Economic Community (EAEC)
European Free Trade Association (EFTA)
Sovereign states by
Average wage
Budget revenues
per capita
Corruption index
GDP (nominal)
per capita
GDP (PPP)
per capita
GNI (nominal) per capita
GNI (PPP) per capita
HDI
Internet users (%)
Minimum wage
Press Freedom Index
Unemployment rate (%)
Health expense per capita
Military spending (%)
Childhood population (%)
Urban population (%)
Life expectancy
Electricity use per capita
Society
Etiquette
Social (and financial) rankings
Languages
endangered
Universities
Bologna Process
Erasmus
Culture
Art
painting
sculpture
Architecture
Capital of Culture
Cinema
film festivals
Classical music
Cuisine
Dance
Literature
Philosophy
Religion
Christianity
Islam
Judaism
Sport
Symbols
Demographics
Ageing
Ethnic groups
genetic history
Immigration
Life expectancy
Retirement
Outline
Index
Category
Portal
Maps
Authority control
WorldCat Identities
GND: 7553526-9
ISNI: 0000 0001 2237 1847
SELIBR: 113641
VIAF: 168638621
Retrieved from "https://en.wikipedia.org/w/index.php?title=Eurozone&oldid=850563715"
Categories:
Eurozone
Multi-speed Europe
Hidden categories:
Pages using Timeline
All articles with unsourced statements
Articles with unsourced statements from May 2018
Webarchive template wayback links
CS1 French-language sources (fr)
CS1 Swedish-language sources (sv)
All articles with dead external links
Articles with dead external links from May 2014
Use dmy dates from December 2017
Articles with hAudio microformats
Articles with dead external links from November 2017
Articles with unsourced statements from July 2018
Wikipedia articles with GND identifiers
Wikipedia articles with ISNI identifiers
Wikipedia articles with SELIBR identifiers
Wikipedia articles with VIAF identifiers
Navigation menu
Personal tools
Not logged in
Talk
Contributions
Create account
Log in
Namespaces
Article
Talk
Variants
Views
Read
Edit
View history
More
Search
Navigation
Main page
Contents
Featured content
Current events
Random article
Donate to Wikipedia
Wikipedia store
Interaction
Help
About Wikipedia
Community portal
Recent changes
Contact page
Tools
What links here
Related changes
Upload file
Special pages
Permanent link
Page information
Wikidata item
Cite this page
Print/export
Create a book
Download as PDF
Printable version
In other projects
Wikimedia Commons
Languages
العربية
Arpetan
Asturianu
Azərbaycanca
বাংলা
Беларуская
Беларуская (тарашкевіца)
Български
Bosanski
Català
Čeština
Cymraeg
Dansk
Deutsch
Eesti
Ελληνικά
Español
Esperanto
Estremeñu
Euskara
فارسی
Français
Frysk
Furlan
Gaeilge
Galego
한국어
Հայերեն
हिन्दी
Hrvatski
Bahasa Indonesia
Interlingua
Ирон
Íslenska
Italiano
עברית
Basa Jawa
ქართული
Қазақша
Latviešu
Lëtzebuergesch
Lietuvių
Magyar
Македонски
Malagasy
മലയാളം
मराठी
Bahasa Melayu
Nederlands
日本語
Nordfriisk
Norsk
Norsk nynorsk
Nouormand
Occitan
Polski
Português
Română
Русский
Саха тыла
Scots
Seeltersk
Shqip
Sicilianu
Simple English
Slovenčina
Slovenščina
کوردی
Српски / srpski
Srpskohrvatski / српскохрватски
Suomi
Svenska
தமிழ்
ไทย
Türkçe
Українська
Vèneto
Tiếng Việt
吴语
ייִדיש
粵語
中文
73 more
Edit links
This page was last edited on 16 July 2018, at 16:49 (UTC).
Text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply. By using this site, you agree to the Terms of Use and Privacy Policy. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization.
Privacy policy
About Wikipedia
Disclaimers
Contact Wikipedia
Developers
Cookie statement
Mobile view
Enable previews

key: html

type: local

value: div

attrs: id class

values: mw-page-base noprint

values: mw-head-base noprint

value: a

attrs: id class lang

values: firstHeading firstHeading en

values: siteSub noprint

attrs: class href

values: mw-jump-link #mw-head

values: mw-jump-link #p-search

value: p

value: caption

value: img

attrs: alt src width height class srcset data-file-width data-file-height

attrs: href class

value: span

attrs: href title

values:
/wiki/Lithuanian_euro_coins
mw-redirect
Lithuanian euro coins

values: Portugese euro coins (page does not exist)

values:
/wiki/Andorran_euro_coins
mw-redirect
Andorran euro coins

values: display:inline-block; width:1.5em; height:1.5em; margin:1px 0; border:1px solid black; background-color: #3472C9; color:black; font-size:100%; text-align:center;

values: position:absolute; font-size:118%; left:2px; top:408px -webkit-column-break-inside: avoid;page-break-inside: avoid;break-inside: avoid-column

values: display:inline-block; width:1.5em; height:1.5em; margin:1px 0; border:1px solid black; background-color: #F3D858; color:black; font-size:100%; text-align:center;

values: International status and usage of the euro

values: position:absolute; font-size:118%; left:2px; top:432px -webkit-column-break-inside: avoid;page-break-inside: avoid;break-inside: avoid-column

values: display:inline-block; width:1.5em; height:1.5em; margin:1px 0; border:1px solid black; background-color: #DCB2DF; color:black; font-size:100%; text-align:center;

values: position:absolute; font-size:118%; left:2px; top:456px -webkit-column-break-inside: avoid;page-break-inside: avoid;break-inside: avoid-column

values: width: 400px; font-size: 85%; line-height: 1; text-align: center; background-color: #ffffff; position: relative; max-width: 100%; overflow-x: visible;

attrs: alt src width height srcset data-file-width data-file-height

values: float:none; position:relative; padding:10px 10px 80px; overflow:hidden;

values: font-size: 105%; font-weight:normal; background:transparent; text-align:left;

values: list-style: none none; margin-left: 0px; text-align: left; font-size: 105%; margin-top: 0px; margin-bottom: 0px; line-height: inherit; display: none;

values:
NavFrame collapsed
border: none; padding: 0;
NavFrame1

values:
/wiki/Euro_Group#President
mw-redirect
Euro Group

values: List of countries by current account balance

values:
/wiki/Politics_of_European_Union
mw-redirect
Politics of European Union

values:
/wiki/Parties_in_the_European_Council
mw-redirect
Parties in the European Council

values:
/wiki/List_of_European_Councils
mw-redirect
List of European Councils

values: Vice-President of the European Commission

values: Secretary-General of the European Commission

values: font-size: 105%; padding: 0px 0px 0.4em; text-align: left; display: none;

values: Political groups of the European Parliament

values:
/wiki/European_People%27s_Party_Group
mw-redirect
European People's Party Group

values: Progressive Alliance of Socialists and Democrats

values:
/wiki/8th_European_Parliament
mw-redirect
8th European Parliament

values: Members of the European Parliament 2014–19

values:
/wiki/Bureau_(European_Parliament)
mw-redirect
Bureau (European Parliament)

values: Vice President of the European Parliament

values: Conference of Presidents of the European Parliament

values: Presidency of the Council of the European Union

values:
/wiki/Justice_and_Home_Affairs_council
mw-redirect
Justice and Home Affairs council

values: Voting in the Council of the European Union

values: General Secretariat of the Council of the European Union

values: Secretary-General of the Council of the European Union

values: List of directorates-general of the council of the european union

values: List of members of the European Court of Justice

values: List of European Court of Justice rulings

values: Economic and Monetary Union of the European Union

values:
/wiki/File:Eurozone.svg
image
Eurozone since 2015

values:
/wiki/European_Anti-fraud_Office
mw-redirect
European Anti-fraud Office

values:
/wiki/Committee_of_the_Regions
mw-redirect
Committee of the Regions

values: National parliaments of the European Union

values: High Representative of the Union for Foreign Affairs and Security Policy

values:
/wiki/Federal_Europe
mw-redirect
Federal Europe

values:
/wiki/Enhanced_co-operation
mw-redirect
Enhanced co-operation

values:
/wiki/File:EP-constituencies.svg
image
Parliamentary constituencies

values: Referendums related to the European Union

values:
/wiki/Treaty_on_European_Union
mw-redirect
Treaty on European Union

values:
/wiki/Supremacy_(European_Union_law)
mw-redirect
Supremacy (European Union law)

values:
/wiki/Amsterdam_Treaty
mw-redirect
Amsterdam Treaty

values:
/wiki/Nice_Treaty
mw-redirect
Nice Treaty

values:
/wiki/Article_50_of_the_Lisbon_Treaty
mw-redirect
Article 50 of the Lisbon Treaty

values: Charter of Fundamental Rights of the European Union

values: padding:0.3em 0.4em 0.3em;font-weight:bold;border-top: 1px solid #aaa; border-bottom: 1px solid #aaa;

values: Template talk:Politics of the European Union

values: float:right;clear:right;width:22.0em;margin:0 0 1.0em 1.0em;background:#f9f9f9;border:1px solid #aaa;padding:0.2em;border-spacing:0.4em 0;text-align:center;line-height:1.4em;font-size:88%

values:
/wiki/Wikipedia:Media_help
mw-redirect
Wikipedia:Media help

values:
/wiki/Monetary_union
mw-redirect
Monetary union

values:
/wiki/Holy_See-European_Union_relations
mw-redirect
Holy See-European Union relations

values: Edit section: European Union member states

values:
headerSort
0
columnheader button
Sort ascending

values:
/wiki/Gross_National_Income
mw-redirect
Gross National Income

values:
/wiki/Lithuanian_Litas
mw-redirect
Lithuanian Litas

values: background: #ececec; color: #2C2C2C; vertical-align: middle; font-size: smaller; text-align: center;

values:
wikitable sortable jquery-tablesorter
font-size:90%; line-height:1.33

values: Edit section: Dependent territories of EU member states — outside EU

values: Territorial collectivity of Saint Barthélemy

values: Overseas Collectivity of Saint-Pierre and Miquelon

values:
glossary
european_union_(eu)_member_states
margin-top: 0.4em;

values: display:inline-block; width:1.5em; height:1.5em; margin:1px 0; border:1px solid black; background-color: #0088cc; color:black; font-size:100%; text-align:center;

values: -webkit-column-break-inside: avoid;page-break-inside: avoid;break-inside: avoid-column

values: display:inline-block; width:1.5em; height:1.5em; margin:1px 0; border:1px solid black; background-color: #ffff00; color:black; font-size:100%; text-align:center;

values: display:inline-block; width:1.5em; height:1.5em; margin:1px 0; border:1px solid black; background-color: #ffbbbb; color:black; font-size:100%; text-align:center;

values: display:inline-block; width:1.5em; height:1.5em; margin:1px 0; border:1px solid black; background-color: #ff6666; color:black; font-size:100%; text-align:center;

values:
glossary
non-eu_member_states
margin-top: 0.4em;

values: display:inline-block; width:1.5em; height:1.5em; margin:1px 0; border:1px solid black; background-color: #7CFC00; color:black; font-size:100%; text-align:center;

values: display:inline-block; width:1.5em; height:1.5em; margin:1px 0; border:1px solid black; background-color: #4B0082; color:black; font-size:100%; text-align:center;

values: Edit section: Historical eurozone enlargements and exchange-rate regimes for EU members

values:
/wiki/Exchange_Rate_Mechanism
mw-redirect
Exchange Rate Mechanism

values:
/wiki/Maastricht_treaty
mw-redirect
Maastricht treaty

values: Organization of the Black Sea Economic Cooperation

attrs: alt src width height class srcset data-file-width data-file-height usemap

values: Template talk:Supranational European Bodies

values:
plainlinks hlist navbar mini
float:right

values: padding-left:0.1em; padding-right:0.1em; color:#595959; border:1px solid #DDD;

values: This claim needs references to reliable sources. (July 2018)

values:
noprint Inline-Template Template-Fact
margin-left:0.1em; white-space:nowrap;

values: Edit section: Administration and representation

values:
/wiki/Frankfurt_am_Main
mw-redirect
Frankfurt am Main

values:
/wiki/French_President
mw-redirect
French President

values: European Commissioner for Economic & Financial Affairs

values: position: absolute; background-color: rgb(206, 223, 242); width:43.5em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; height:1.25em; width: 45em; padding: 0 0 0 2em; z-index: 10;

values: position: absolute; background-color: rgb(206, 223, 242); width:27.8em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:27.6em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:11.5em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:5.9em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:5.5em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:4.4em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:3.7em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:3.4em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:3.2em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:3em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:2.5em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:2.3em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:1.7em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:1.6em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:1.5em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:1.3em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:1.2em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:1.1em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:1em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values: position: absolute; background-color: rgb(206, 223, 242); width:0.9em; height: 1.25em; margin: 0 0 0 0; z-index: 0;

values:
/wiki/Nominal_GDP
mw-redirect
Nominal GDP

values: border-top: 1px #aaa solid; white-space: normal;

values: width: 70em; border-style:solid; border-width:1px; border-color:#c0c0c0; background-color:#fdfdfd; text-align:left;

attrs: alt src width height data-file-width data-file-height

values:
/wiki/File:ECBrates.png
image
Eurozone interest rates

values:
/wiki/Public_debt
mw-redirect
Public debt

values:
/wiki/Broad_Economic_Policy_Guidelines
mw-redirect
Broad Economic Policy Guidelines

values:
/wiki/National_debt
mw-redirect
National debt

values: Organisation for Economic Co-operation and Development

values:
/wiki/Fiscal_Compact
mw-redirect
Fiscal Compact

values: Accession of Croatia to the European Union

values:
/wiki/Treaty_of_Maastricht
mw-redirect
Treaty of Maastricht

values: display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle

values: margin:0.5em 0 0.5em 1em;border:solid #aaa 1px

values: List of acronyms associated with the eurozone crisis

values: List of people associated with the eurozone crisis

values: Special member state territories and the European Union

values: This claim needs references to reliable sources. (May 2018)

values:
noprint Inline-Template Template-Fact
white-space:nowrap;

values:
nofollow
external text
http://www.centralbank.an/faq

values: Serbia's reaction to the 2008 Kosovo declaration of independence

values: Autonomous Province of Kosovo and Metohija

values: -moz-column-width: 30em; -webkit-column-width: 30em; column-width: 30em; list-style-type: lower-alpha;

values:
nofollow
external text
http://euobserver.com/political/118925

values:
/wiki/Europa_(web_portal)
mw-redirect
Europa (web portal)

values:
nofollow
https://esa.un.org/unpd/wpp/DataQuery/
external text

values: United Nations Department of Economic and Social Affairs

values:
nofollow
external text
https://euobserver.com/news/113563

values:
nofollow
external text
http://euobserver.com/19/113552

values:
nofollow
external text
//ssrn.com/abstract=2262873

values:
nofollow
external text
//ssrn.com/abstract=2827699

values:
nofollow
external text
http://euobserver.com/9/25984

values:
nofollow
external text
http://euobserver.com/9/30232

values:
nofollow
external text
http://euobserver.com/9/30284

values: -moz-column-width: 30em; -webkit-column-width: 30em; column-width: 30em; list-style-type: decimal;

values: wikisource:Consolidated version of the Treaty on the Functioning of the European Union/Title VIII: Economic and Monetary Policy

values:
nofollow
http://www.ecb.europa.eu/
external text

values: European Financial Stabilisation Mechanism

values:
/wiki/%E2%82%AC2_commemorative_coins
mw-redirect
€2 commemorative coins

values: Euro gold and silver commemorative coins

values: nowraplinks hlist collapsible expanded navbox-inner mw-collapsible mw-made-collapsible

values: History of the European Coal and Steel Community (1945–57)

values: History of the European Communities (1958–72)

values: History of the European Communities (1973–93)

values: History of the European Union (1993–2004)

values: History of the European Union since 2004

values: Template:Structural evolution of the European Union

values: Police and Judicial Co-operation in Criminal Matters

values: List of largest cities in the European Union by population within city limits

values: List of urban areas in the European Union

values: European Centre for Disease Prevention and Control

values: Environmental policy of the European Union

values:
/wiki/Four_Freedoms_(European_Union)
mw-redirect
Four Freedoms (European Union)

values: Freedom of movement for workers in the European Union

values: Government procurement in the European Union

values: Mechanism for Cooperation and Verification

values: Future enlargement of the European Union

values: Table of political parties in Europe by pancontinental organisation

values: List of European Union member states by minimum wage

values: List of European Union member states by average wage

values: List of European Union member states by unemployment rate

values: List of European Union member states by health expense per person

values:
/wiki/Healthcare_in_the_European_Union
mw-redirect
Healthcare in the European Union

values:
/wiki/Culture_of_the_European_Union
mw-redirect
Culture of the European Union

values: National identity cards in the European Union

values: Educational policies and initiatives of the European Union

values: European Institute of Innovation and Technology

values: Glossary of European Union concepts, acronyms, & jargon

values: List of cities in the European Union with more than 100,000 inhabitants

values: List of tallest buildings in the European Union

values:
/wiki/Terrorism_in_the_European_Union
mw-redirect
Terrorism in the European Union

values: Vehicle registration plates of the European Union

values: nowraplinks hlist collapsible collapsed navbox-inner mw-collapsible mw-collapsed mw-made-collapsible

values: Template talk:Reach of the European Union

values: African, Caribbean and Pacific Group of States

values: List of military and civilian missions of the European Union

values: High Representative for Bosnia and Herzegovina

values: International Civilian Representative for Kosovo

values: European Neighbourhood Policy countries statistics

values: High Representative for the Common Foreign and Security Policy

values:
/wiki/ECHO_(European_Commission)
mw-redirect
ECHO (European Commission)

values:
/wiki/Galileo_positioning_system
mw-redirect
Galileo positioning system

values: nowraplinks collapsible collapsed navbox-inner mw-collapsible mw-collapsed mw-made-collapsible

values:
/wiki/Index_of_Europe-related_articles
mw-redirect
Index of Europe-related articles

values: Crisis situations and unrest in Europe since 2000

values: List of sovereign states by date of formation

values: List of predecessors of sovereign states in Europe

values: Area and population of European countries

values: List of sovereign states and dependent territories in Europe

values: List of sovereign states and dependent territories in Europe by population

values: GUAM Organization for Democracy and Economic Development

values: Organization for Security and Co-operation in Europe

values: Organization for Security and Co-operation in Europe statistics

values: Third-country economic relationships with the European Union

values:
/wiki/Visa_policy_in_the_European_Union
mw-redirect
Visa policy in the European Union

values: Financial and social rankings of sovereign states in Europe

values:
/wiki/Telecommunications_in_Europe
mw-redirect
Telecommunications in Europe

values: Customs Union of Belarus, Kazakhstan, and Russia

values: List of European countries by average wage

values: List of sovereign states in Europe by budget revenues

values: List of sovereign states in Europe by budget revenues per capita

values: List of sovereign states in Europe by Corruption Perceptions Index

values: List of sovereign states in Europe by GDP (nominal)

values: List of sovereign states in Europe by GDP (nominal) per capita

values: List of sovereign states in Europe by GDP (PPP)

values: List of sovereign states in Europe by GDP (PPP) per capita

values: List of sovereign states in Europe by GNI (nominal) per capita

values: List of sovereign states in Europe by GNI (PPP) per capita

values: List of sovereign states in Europe by Human Development Index

values: List of European countries by number of Internet users

values: List of European countries by minimum wage

values: List of sovereign states in Europe by Press Freedom Index

values: List of sovereign states in Europe by unemployment rate

values: European countries by health expense per person

values: European countries by military expenditure as a percentage of government expenditure

values: European countries by percent of population aged 0-14

values: European countries by percentage of urban population

values: List of European countries by life expectancy

values: European countries by electricity consumption per person

values: History of European research universities

values:
/wiki/European_literature
mw-redirect
European literature

values: Maps of present-day countries and dependencies

values:
nofollow
external text
https://d-nb.info/gnd/7553526-9

values:
nofollow
external text
http://isni.org/isni/0000000122371847

values:
nofollow
external text
https://libris.kb.se/auth/113641

values:
nofollow
external text
https://viaf.org/viaf/168638621

values: Category:All articles with unsourced statements

values: Category:Articles with unsourced statements from May 2018

values: Category:Webarchive template wayback links

values: Category:CS1 French-language sources (fr)

values: Category:CS1 Swedish-language sources (sv)

values: Category:All articles with dead external links

values: Category:Articles with dead external links from May 2014

values: Category:Use dmy dates from December 2017

values: Category:Articles with hAudio microformats

values: Category:Articles with dead external links from November 2017

values: Category:Articles with unsourced statements from July 2018

values: Category:Wikipedia articles with GND identifiers

values: Category:Wikipedia articles with ISNI identifiers

values: Category:Wikipedia articles with SELIBR identifiers

values: Category:Wikipedia articles with VIAF identifiers

values: Discussion about edits from this IP address [ctrl-alt-n]

values: A list of edits made from this IP address [ctrl-alt-y]

values: You are encouraged to create an account and log in; however, it is not mandatory

values: You're encouraged to log in; however, it's not mandatory. [ctrl-alt-o]

values:
/wiki/Eurozone
View the content page [ctrl-alt-c]
c

values: Discussion about the content page [ctrl-alt-t]

values: p-namespaces navigation vectorTabs p-namespaces-label

values:
p-variants
navigation
vectorMenu emptyPortlet
p-variants-label

values:
/w/index.php?title=Eurozone&action=edit
Edit this page [ctrl-alt-e]
e

values: Past revisions of this page [ctrl-alt-h]

values: p-views navigation vectorTabs p-views-label

values:
p-cactions
navigation
vectorMenu emptyPortlet
p-cactions-label

values:
mw-wiki-logo
/wiki/Main_Page
Visit the main page

values:
/wiki/Main_Page
Visit the main page [ctrl-alt-z]
z

values: Featured content – the best of Wikipedia

values: Find background information on current events

values:
/wiki/Special:Random
Load a random article [ctrl-alt-x]
x

values: portal navigation p-navigation p-navigation-label

values: Guidance on how to use and edit Wikipedia

values: About the project, what you can do, where to find things

values: منطقة اليورو – Arabic

values:
interlanguage-link interwiki-frp
display: none;

values:
https://ast.wikipedia.org/wiki/Eurozona
Eurozona – Asturian
ast
ast
interlanguage-link-target

values:
interlanguage-link interwiki-ast
display: none;

values:
https://az.wikipedia.org/wiki/Avrozona
Avrozona – Azerbaijani
az
az
interlanguage-link-target

values:
interlanguage-link interwiki-az
display: none;

values: ইউরোজোন – Bangla

values:
interlanguage-link interwiki-bn
display: none;

values:
interlanguage-link interwiki-be
display: none;

values: Эўразона – Belarusian (Taraškievica orthography)

values:
interlanguage-link interwiki-be-x-old
display: none;

values: Еврозона – Bulgarian

values:
interlanguage-link interwiki-bg
display: none;

values:
https://bs.wikipedia.org/wiki/Eurozona
Eurozona – Bosnian
bs
bs
interlanguage-link-target

values:
interlanguage-link interwiki-bs
display: none;

values:
https://ca.wikipedia.org/wiki/Zona_euro
Zona euro – Catalan
ca
ca
interlanguage-link-target

values:
interlanguage-link interwiki-ca
display: none;

values:
interlanguage-link interwiki-cs
display: none;

values:
interlanguage-link interwiki-cy
display: none;

values:
https://da.wikipedia.org/wiki/Eurozonen
Eurozonen – Danish
da
da
interlanguage-link-target

values: interlanguage-link interwiki-da badge-Q17559452 badge-recommendedarticle

values:
https://de.wikipedia.org/wiki/Eurozone
Eurozone – German
de
de
interlanguage-link-target

values:
interlanguage-link interwiki-de
display: none;

values:
https://et.wikipedia.org/wiki/Euroala
Euroala – Estonian
et
et
interlanguage-link-target

values:
interlanguage-link interwiki-et
display: none;

values: Ευρωζώνη – Greek

values:
interlanguage-link interwiki-el
display: none;

values:
https://es.wikipedia.org/wiki/Eurozona
Eurozona – Spanish
es
es
interlanguage-link-target

values:
interlanguage-link interwiki-eo
display: none;

values:
interlanguage-link interwiki-ext
display: none;

values:
https://eu.wikipedia.org/wiki/Eurogunea
Eurogunea – Basque
eu
eu
interlanguage-link-target

values:
interlanguage-link interwiki-eu
display: none;

values: منطقه یورو – Persian

values:
interlanguage-link interwiki-fa
display: none;

values:
https://fr.wikipedia.org/wiki/Zone_euro
Zone euro – French
fr
fr
interlanguage-link-target

values:
interlanguage-link interwiki-fr
display: none;

values:
interlanguage-link interwiki-fy
display: none;

values:
interlanguage-link interwiki-fur
display: none;

values:
interlanguage-link interwiki-ga
display: none;

values:
https://gl.wikipedia.org/wiki/Eurozona
Eurozona – Galician
gl
gl
interlanguage-link-target

values:
interlanguage-link interwiki-gl
display: none;

values:
interlanguage-link interwiki-ko
display: none;

values: Եվրագոտի – Armenian

values:
interlanguage-link interwiki-hy
display: none;

values: यूरोक्षेत्र – Hindi

values:
https://hr.wikipedia.org/wiki/Eurozona
Eurozona – Croatian
hr
hr
interlanguage-link-target

values:
interlanguage-link interwiki-hr
display: none;

values:
https://id.wikipedia.org/wiki/Zona_Euro
Zona Euro – Indonesian
id
id
interlanguage-link-target

values:
https://ia.wikipedia.org/wiki/Zona_euro
Zona euro – Interlingua
ia
ia
interlanguage-link-target

values:
interlanguage-link interwiki-ia
display: none;

values: Еврозонæ – Ossetic

values:
interlanguage-link interwiki-os
display: none;

values:
interlanguage-link interwiki-is
display: none;

values:
https://it.wikipedia.org/wiki/Zona_euro
Zona euro – Italian
it
it
interlanguage-link-target

values:
interlanguage-link interwiki-it
display: none;

values: גוש האירו – Hebrew

values:
interlanguage-link interwiki-he
display: none;

values:
interlanguage-link interwiki-jv
display: none;

values: ევროზონა – Georgian

values:
interlanguage-link interwiki-ka
display: none;

values: Еуроаймақ – Kazakh

values:
interlanguage-link interwiki-kk
display: none;

values:
https://lv.wikipedia.org/wiki/Eirozona
Eirozona – Latvian
lv
lv
interlanguage-link-target

values:
interlanguage-link interwiki-lv
display: none;

values:
https://lb.wikipedia.org/wiki/Eurozon
Eurozon – Luxembourgish
lb
lb
interlanguage-link-target

values:
interlanguage-link interwiki-lb
display: none;

values:
https://lt.wikipedia.org/wiki/Euro_zona
Euro zona – Lithuanian
lt
lt
interlanguage-link-target

values:
interlanguage-link interwiki-lt
display: none;

values:
interlanguage-link interwiki-hu
display: none;

values:
interlanguage-link interwiki-mk
display: none;

values:
interlanguage-link interwiki-mg
display: none;

values:
interlanguage-link interwiki-ml
display: none;

values: युरोक्षेत्र – Marathi

values:
interlanguage-link interwiki-mr
display: none;

values:
https://ms.wikipedia.org/wiki/Zon_euro
Zon euro – Malay
ms
ms
interlanguage-link-target

values:
https://nl.wikipedia.org/wiki/Eurozone
Eurozone – Dutch
nl
nl
interlanguage-link-target

values:
interlanguage-link interwiki-nl
display: none;

values:
interlanguage-link interwiki-ja
display: none;

values:
https://frr.wikipedia.org/wiki/Eurozone
Eurozone – Northern Frisian
frr
frr
interlanguage-link-target

values:
interlanguage-link interwiki-frr
display: none;

values:
https://no.wikipedia.org/wiki/Eurosonen
Eurosonen – Norwegian
no
no
interlanguage-link-target

values: interlanguage-link interwiki-no badge-Q17437798 badge-goodarticle

values:
https://nn.wikipedia.org/wiki/Eurosona
Eurosona – Norwegian Nynorsk
nn
nn
interlanguage-link-target

values:
interlanguage-link interwiki-nn
display: none;

values:
interlanguage-link interwiki-nrm
display: none;

values:
interlanguage-link interwiki-oc
display: none;

values:
interlanguage-link interwiki-pl
display: none;

values:
https://pt.wikipedia.org/wiki/Zona_Euro
Zona Euro – Portuguese
pt
pt
interlanguage-link-target

values:
interlanguage-link interwiki-pt
display: none;

values:
https://ro.wikipedia.org/wiki/Zona_euro
Zona euro – Romanian
ro
ro
interlanguage-link-target

values:
interlanguage-link interwiki-ro
display: none;

values: Еврозона – Russian

values: Эурозона – Sakha

values:
interlanguage-link interwiki-sah
display: none;

values:
https://sco.wikipedia.org/wiki/Eurozone
Eurozone – Scots
sco
sco
interlanguage-link-target

values:
interlanguage-link interwiki-sco
display: none;

values:
interlanguage-link interwiki-stq
display: none;

values:
https://sq.wikipedia.org/wiki/Eurozona
Eurozona – Albanian
sq
sq
interlanguage-link-target

values:
interlanguage-link interwiki-sq
display: none;

values:
interlanguage-link interwiki-scn
display: none;

values:
interlanguage-link interwiki-simple
display: none;

values:
interlanguage-link interwiki-sk
display: none;

values:
interlanguage-link interwiki-sl
display: none;

values:
interlanguage-link interwiki-ckb
display: none;

values: Еврозона – Serbian

values:
interlanguage-link interwiki-sr
display: none;

values:
https://sh.wikipedia.org/wiki/Eurozona
Eurozona – Serbo-Croatian
sh
sh
interlanguage-link-target

values:
interlanguage-link interwiki-sh
display: none;

values:
https://fi.wikipedia.org/wiki/Euroalue
Euroalue – Finnish
fi
fi
interlanguage-link-target

values:
interlanguage-link interwiki-fi
display: none;

values:
interlanguage-link interwiki-sv
display: none;

values: ஐரோ வலயம் – Tamil

values:
interlanguage-link interwiki-ta
display: none;

values: ยูโรโซน – Thai

values:
interlanguage-link interwiki-th
display: none;

values:
interlanguage-link interwiki-tr
display: none;

values: Єврозона – Ukrainian

values:
interlanguage-link interwiki-uk
display: none;

values:
interlanguage-link interwiki-vec
display: none;

values:
interlanguage-link interwiki-vi
display: none;

values:
interlanguage-link interwiki-wuu
display: none;

values: אייראזאנע – Yiddish

values:
interlanguage-link interwiki-yi
display: none;

values:
interlanguage-link interwiki-zh-yue
display: none;

values: All languages (initial selection from common choices by you and others)

values: /static/images/wikimedia-button-1.5x.png 1.5x, /static/images/wikimedia-button-2x.png 2x

values: /static/images/poweredby_mediawiki_132x47.png 1.5x, /static/images/poweredby_mediawiki_176x62.png 2x

values:
suggestions
display: none; font-size: 13px;

values: mediawiki ltr sitedir-ltr mw-hide-empty-elt ns-0 ns-subject page-Eurozone rootpage-Eurozone skin-vector action-view


text:
Our Souls at Night (film)
From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Our Souls at Night
Theatrical and Netflix release poster
Directed by
Ritesh Batra
Produced by
Robert Redford
Erin Simms
Finola Dwyer
Written by
Scott Neustadter
Michael H. Weber
Based on
Our Souls at Night
by Kent Haruf
Starring
Jane Fonda
Robert Redford
Music by
Elliot Goldenthal
Cinematography
Stephen Goldblatt
Edited by
John F. Lyons
Production
company
Netflix
Wildwood Enterprises, Inc
Distributed by
Netflix
Release date
September 1, 2017 (2017-09-01) (Venice)
September 29, 2017 (2017-09-29) (United States)
Running time
101 minutes[1]
Country
United States
Language
English
Our Souls at Night is a 2017 American romantic drama film directed by Ritesh Batra and written by Scott Neustadter and Michael H. Weber. It is based on the novel of same name by Kent Haruf. The film stars Jane Fonda, Robert Redford, Matthias Schoenaerts, and Judy Greer. It had its world premiere at the Venice Film Festival on September 1, 2017. It was released on September 29, 2017 by Netflix. It marked the fourth collaboration between Fonda and Redford, having previously starred in The Chase, Barefoot in the Park, and The Electric Horseman.
The film received acclaim from critics who appreciated the film's direction, adaptation from the novel and performances, with critics widely praising the casting of Fonda and Redford who were appreciated for the respective performances (especially Fonda) and their chemistry.
Contents
1 Plot
2 Cast
3 Production
4 Release
5 References
6 External links
Plot[edit]
Louis Waters, a widower, and Addie Moore, a widow, have been neighbours for decades but hardly know each other. One night, Addie visits Louis to suggest that they spend the night together, non-sexually, to counter their loneliness. Although Louis is initially somewhat hesitant, he soon agrees and they start spending their evenings and nights at Addie’s house.
Through their conversations Louis and Addie grow closer, eventually sharing stories of their past. Addie discloses how the death of her eleven-year old daughter in an accident took a toll on her marriage, while Louis talks about an affair that almost ended his marriage.
At the start of the summer, Addie’s son Gene drops off his own son Jamie at Addie’s house, as his marriage has fallen apart. Jamie spends the entire summer with Louis and Addie, who also adopt a dog for Jamie. At the end of the summer, Gene returns to pick up Jamie and confronts Addie about her relationship with Louis, which he disapproves of, because of Louis’ past affair. Addie, however, refuses to break off the relationship.
Sometime later, Addie is hospitalised after a fall. Gene attempts to persuade Addie to move in with him, which Addie initially refuses. However, when she receives a distressed phone call from Jamie in the middle of the night, she reconsiders when she arrives at Gene’s house and finds a drunk Gene, who confesses he has always known that Addie blamed him for his sister’s death.
Addie then sells her house and moves in with Gene and Jamie, but soon rekindles her romance with Louis by telephone.
Cast[edit]
Robert Redford as Louis Waters
Jane Fonda as Addie Moore
Iain Armitage as Jamie Moore, Gene's son and Addie's grandson
Matthias Schoenaerts as Gene Moore, Addie's son and Jamie's father
Judy Greer as Holly Waters, Louis' daughter
Phyllis Somerville as Ruth Joyce, Addie's friend
Bruce Dern as Dorlan Becker
Production[edit]
On July 7, 2016, Netflix hired Ritesh Batra to direct the film adaptation of Kent Haruf's novel Our Souls at Night, scripted by Scott Neustadter and Michael H. Weber.[2]
Principal photography on the film began on September 12, 2016 in Colorado Springs, Colorado, and it also was shot in Florence, Colorado.[3][4] Filming was completed on November 2, 2016.[5]
Release[edit]
The film had its world premiere at the Venice Film Festival on September 1, 2017.[6] It was released on September 29, 2017 on Netflix streaming.[7]
References[edit]
Jump up ^ "Biennale Cinema 2017 - The films Out of Competition". 28 July 2017.
Jump up ^ Jr, Mike Fleming (July 7, 2016). "Netflix Taps Ritesh Batra To Direct Robert Redford-Jane Fonda Reteam 'Our Souls At Night'". Deadline Hollywood. Retrieved September 12, 2016.
Jump up ^ "Filming begins for Netflix movie staring Jane Fonda, Robert Redford". KOAA. September 12, 2016. Retrieved September 12, 2016.
Jump up ^ Evry, Max (September 9, 2016). "Robert Redford & Jane Fonda Re-Team for Our Souls at Night". ComingSoon.net. Retrieved September 12, 2016.
Jump up ^ "'Our Souls at Night' films in northeast Colorado Springs". The Gazette. October 27, 2016. Retrieved November 3, 2016.
Jump up ^ Hodderhose, Diana (July 17, 2017). "Jane Fonda & Robert Redford To Be Honored At Venice Film Festival; 'Our Souls At Night' To World Premiere". Deadline Hollywood. Retrieved July 17, 2017.
Jump up ^ Tartaglione, Nancy (August 9, 2017). "'Our Souls At Night' Tease: Jane Fonda, Robert Redford Have A Sunday Kind Of Love". Deadline Hollywood. Retrieved August 9, 2017.
External links[edit]
Our Souls At Night at Netflix
Our Souls at Night on IMDb
Our Souls at Night at Rotten Tomatoes
hide
v
t
e
Robert Redford
Films directed
Ordinary People (1980)
The Milagro Beanfield War (1988)
A River Runs Through It (1992)
Quiz Show (1994)
The Horse Whisperer (1998)
The Legend of Bagger Vance (2000)
Lions for Lambs (2007)
The Conspirator (2010)
The Company You Keep (2012)
Related articles
Robert Redford filmography
Awards
Sundance Film Festival
Sundance TV
Sundance Institute
Wildwood Enterprises, Inc
Retrieved from "https://en.wikipedia.org/w/index.php?title=Our_Souls_at_Night_(film)&oldid=864090463"
Categories:
2017 films
English-language films
American films
Films based on American novels
Films directed by Ritesh Batra
Screenplays by Scott Neustadter and Michael H. Weber
American drama films
2010s drama films
Films shot in Colorado
Films scored by Elliot Goldenthal
Navigation menu
Personal tools
Not logged in
Talk
Contributions
Create account
Log in
Namespaces
Article
Talk
Variants
Views
Read
Edit
View history
More
Search
Navigation
Main page
Contents
Featured content
Current events
Random article
Donate to Wikipedia
Wikipedia store
Interaction
Help
About Wikipedia
Community portal
Recent changes
Contact page
Tools
What links here
Related changes
Upload file
Special pages
Permanent link
Page information
Wikidata item
Cite this page
Print/export
Create a book
Download as PDF
Printable version
Languages
العربية
Deutsch
Français
Italiano
Nederlands
日本語
Polski
Edit links
This page was last edited on 15 October 2018, at 01:36 (UTC).
Text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply. By using this site, you agree to the Terms of Use and Privacy Policy. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization.
Privacy policy
About Wikipedia
Disclaimers
Contact Wikipedia
Developers
Cookie statement
Mobile view
Enable previews

values: mw-page-base noprint

values: mw-head-base noprint

value: i

values: firstHeading firstHeading en

values: siteSub noprint

values: mw-jump-link #mw-head

values: mw-jump-link #p-search

value: th

attrs: colspan class style

value: tr

attrs: alt src width height class data-file-width data-file-height

value: td

attrs: colspan style

attrs: scope style

value: li

values:
/wiki/Romantic_drama_film
mw-redirect
Romantic drama film

values: checkbox button toctogglecheckbox toctogglecheckbox display:none

values: -moz-column-width: 30em; -webkit-column-width: 30em; column-width: 30em; list-style-type: decimal;

values:
nofollow
external text
https://www.netflix.com/title/80104068

values:
nofollow
https://www.imdb.com/title/tt5034266/
external text

values: List of awards and nominations received by Robert Redford

values: nowraplinks collapsible autocollapse navbox-inner mw-collapsible mw-made-collapsible

values: Category:Screenplays by Scott Neustadter and Michael H. Weber

values: Category:Films scored by Elliot Goldenthal

values:
catlinks mw-normal-catlinks
catlinks mw-normal-catlinks
interface

values: Discussion about edits from this IP address [ctrl-alt-n]

values: A list of edits made from this IP address [ctrl-alt-y]

values: You are encouraged to create an account and log in; however, it is not mandatory

values: You're encouraged to log in; however, it's not mandatory. [ctrl-alt-o]

values:
/wiki/Our_Souls_at_Night_(film)
View the content page [ctrl-alt-c]
c

values: Discussion about the content page [ctrl-alt-t]

values: p-namespaces navigation vectorTabs p-namespaces-label

values:
p-variants
navigation
vectorMenu emptyPortlet
p-variants-label

values: Past revisions of this page [ctrl-alt-h]

values: p-views navigation vectorTabs p-views-label

values:
p-cactions
navigation
vectorMenu emptyPortlet
p-cactions-label

values:
mw-wiki-logo
/wiki/Main_Page
Visit the main page

values:
/wiki/Main_Page
Visit the main page [ctrl-alt-z]
z

values: Featured content – the best of Wikipedia

values: Find background information on current events

values:
/wiki/Special:Random
Load a random article [ctrl-alt-x]
x

values: portal navigation p-navigation p-navigation-label

values: Guidance on how to use and edit Wikipedia

values: About the project, what you can do, where to find things

values: A list of recent changes in the wiki [ctrl-alt-r]

values: portal navigation p-interaction p-interaction-label

values: List of all English Wikipedia pages containing links to this page [ctrl-alt-j]

values: Recent changes in pages linked from this page [ctrl-alt-k]

values:
/wiki/Wikipedia:File_Upload_Wizard
Upload files [ctrl-alt-u]
u

values: A list of all special pages [ctrl-alt-q]

values: Permanent link to this revision of the page

values: Link to connected data repository item [ctrl-alt-g]

values: Printable version of this page [ctrl-alt-p]

values: أرواحنا في الليل (فيلم) – Arabic

values: 夜が明けるまで – Japanese

values: mediawiki ltr sitedir-ltr mw-hide-empty-elt ns-0 ns-subject page-Our_Souls_at_Night_film rootpage-Our_Souls_at_Night_film skin-vector action-view