By Peter Fortunato, Editor
There are a couple things that I find inadequate with this graphic tweeted out by Bloomberg Graphics (@BBGVisualData).
First, the countries aspiring to enter the euro area (Croatia, Romania, and Bulgaria) are outlined in a way that makes them somewhat difficult to distinguish from the rest of the map.
Second, this graphic doesn’t tell us why Poland, the Czech Republic, and Hungary aren’t using the euro while Sweden gets a description. It would have been nice to know each of their respective situations.
Third, the micro-states Monaco, San Marino, the Vatican City, and Andorra, while not a part of the European Union, have adopted the euro as their national currency as a result of specific monetary agreements with the EU. The agreements allow these countries to print and use the Euro, but because they aren’t member states, they are not technically not a part of the euro area. The graphic would have benefitted from including this fact.
If you would like to know more about the euro area, visit the European Union’s webpage titled “What is the euro area?”