How come some Monoco uses the €uro when it isn't in th EU?

Question

I know it'd be dead awkward if they didn't have the €uro since they are surrounded by the French but I'm curious as to how they were included in getting the €uro. Can they legally print €uro notes and coins?

Answer 1

the same goes for the very small countries in europe who never had their own currency and who had to adopt the euro in the wake of their big neighbors.

Vatican and san marino went from lire to euro;

monaco and andorra from franc to euro.

These countries print coins in euro,but no banknotes.

Answer 2

Same reason that Panama uses the dollar(even though they call it the Balboa is US money printed in US). It is a stable currency that most of thier trade is performed in any way. It is a hard currency that can be traded anywhere.

It would not be smart to print your own currency making the goods that your people consume more expensive because of the money traders. The Monoco economy is largely based on tourism, and visitors would tend to stick to thier budgets by only converting only the amount that they want to spend.

Answer 3

Monaco has always used the same currency as France so when France switched from the Franc to the Euro, they switched also.  In addition, Citizens of Monaco are considered French citizens which entitles them to all the rights of the European Union