A common misconception about Europe is that all nations are part of the European Union and are using the Euro as their common currency. This leads to confusion about the Eurozone, the 20 countries, principalities and sovereign entities that share the Euro as their common currency.
The European Union currently comprises 27 European nations (with Croatia joining in 2013), of which 17 member nations use the Euro. These are:
- The Netherlands
Through special arrangements, Monaco, Vatican City and San Marino (which are not members of the European Union) use the Euro and issue currency with their own identity on one side of coins or bills.
European Union members states that don't use the Euro include Czech Republic, Denmark, Finland, Hungary, Sweden and the UK.
When meeting and event planning in Europe, it's very important to know which currency standards apply to which countries. That knowledge can mean savings!
Look for more information about foreign currency benefits and challenges in the coming weeks. To learn more about international meetings, read IMEX America 2012: Tips on Going Global From Cvent and Meeting Focus Panel.
Photo Credits: EnvironmentBlog
For assistance in planning events in Europe, consult Cvent's Europe Meeting and Event Planning Guide.