How many EU countries aren using the EURO as their currency, & WHY??
Currently, twelve countries in the European Union use the euro, out of the 27 member countries. There are a few reasons certain countries would not want to join the euro system. For one thing, giving up their own currency would also mean abiding by the decisions of the European Central Bank, which governs the currency. Because it is formed of a hodgepodge of disparate nations, its choices sometimes don’t reflect reality in a few countries. For example, recently when Spain’s economy was overheating, the rest of the EU needed interest rate decreases to bolster slow growth. This rate decrease, though, was exactly the opposite of what Spain needed. The cheaper money fueled a big property market bubble that poses a big risk to the economy. This example illustrates the main reason some big economies like the UK and Poland would prefer not to join. The other reason (and this is the reason for most of the countries in the EU) is that membership requirements are very stringent. Inflation must b
