Andorra has a monetary agreement with the EU allowing it to make the euro its official currency, and permitting it to issue euro coins from 1 July 2013. [1] They planned to issue their first coins by March or April 2014. [2] On 23 December 2014, coins were delivered for pre-booked customers at the Government Administration Building, and actual circulation began on 15 January 2015. [3]
Andorra did not have an official currency before adopting the euro, and unlike its two larger neighbours, France and Spain, which surround it, it is not a member of the EU.
In the 20th century, both the French franc and Spanish peseta were used and accepted in Andorra, but the peseta was more widespread [4] with government budgets, salaries and bank deposits mostly being in pesetas. When those two currencies were replaced by the euro between 1999 and 2002, the euro became the sole currency in Andorra.
Unlike the three other European microstates outside of the EU, Monaco, San Marino and the Vatican City, which adopted the euro when it was introduced, Andorra did not conclude a monetary agreement with the EU but rather used it unilaterally. These agreements gave the three microstates the right to issue their own euro coins, which have a common design on one side, and a national-specific side on the other. As with coins minted in other eurozone states, the microstate coins are valid across the eurozone; however they do not gain representation on the euro's governing bodies, the European Central Bank (ECB) and the Eurogroup. In 2003 Andorra requested that the EU conclude a monetary agreement with it which would give it the right to mint its own coins.
In 2004 the Council of the European Union adopted its negotiating position with Andorra. Following Andorra's agreement to abide by Council Directive 2003/48/EC on taxation of savings income in the form of interest payments, the Commission recommended opening negotiations. [5] Negotiations were expected to be concluded by 2008, [6] [7] but were repeatedly stalled due in part to poor relations stemming from Andorra's tax haven status. A monetary agreement was eventually agreed to by Andorra and the EU in February 2011, [8] and the agreement was signed on 30 June 2011. [1] After the agreement came into force on 1 April 2012, [9] the euro became Andorra's official currency. Andorra would have been permitted to issue up to 2.4 million euro coins from 1 July 2013 onwards provided that it complied with the agreement's terms. [10] [11]
In October 2012, Jordi Cinca, Andorra's Minister of Finance, stated that 1 January 2014 was a more likely date to start issuing euros due to delays in adopting the legislation required by the monetary agreement. [12] In February 2013, the Director of the Mint of Andorra Jordi Puigdemasa confirmed that Andorra would not begin issuing euros until 1 January 2014. [13] [14] However, the EU did not approve the minting of the coins until December 2013, thus their release was delayed. [15] Minister of Culture Stephen Albert was optimistic that the coins would be circulating by March or April 2014. [2] By May, with still no euros issued, Cinca said that they had again been delayed but would be in circulation by the end of 2014. He cited complications from having the minting of the coins being split between the French and Spanish mints, and efforts to ensure that the coins made it into circulation, rather than to collectors, for the delay. [16] The currency of the 2014 vintage presented on December 23, 2014 was all coined in Spain. France was instead awarded the minting order in 2015. The actual circulation began on 15 January 2015. [3]
A design competition for the national side of the euro coins was launched on 19 March 2013, with a deadline of 16 April. [13] [17] The winning designs were announced on 16 May and depict a pyrenean chamois on the 1, 2 and 5 euro cent pieces, the Church of Santa Coloma and a depiction of Christ from the church Sant Martí de la Cortinada on the 10, 20, and 50 euro cent pieces, and Casa de la Vall on the 1 euro piece. The government had previously decided that the Coat of arms of Andorra would be featured on the 2 euro piece. [18] Final approval of the coins was in late June, at which point they were forwarded to the EU for their consent. [18] In August, a spokesperson for Cinca confirmed that the design of the 10, 20 and 50 euro cent pieces had been modified to remove the depiction of Christ due to objections from the European Commission on the grounds of religious neutrality. [19] [20]
€0.01 | €0.02 | €0.05 |
---|---|---|
A Pyrenean chamois | ||
€0.10 | €0.20 | €0.50 |
The Church of Santa Coloma | ||
€1.00 | €2.00 | €2 Coin Edge |
for a total of 12 stars | ||
The Casa de la Vall | The Coat of arms of Andorra |
Face Value [21] [22] | €0.01 | €0.02 | €0.05 | €0.10 | €0.20 | €0.50 | €1.00 | €2.00 | €2.00CC |
---|---|---|---|---|---|---|---|---|---|
2014 | 60,000 | 60,000 | 860,000 | 860,000 | 860,000 | 340,000 | 511,843 | 360,000 | * |
2015 | * | * | * | * | * | * | * | 200,000 | * |
2016 | * | * | * | * | * | * | 2,339,200 | * | * |
2017 | 2,582,395 | 1,515,000 | 2,191,421 | 1,103,000 | 1,213,000 | 968,800 | * | 794,588 | * |
2018 | 3,430,000 | 2,550,000 | 1,800,000 | 980,000 | 1,014,000 | 890,000 | * | 868,000 | * |
2019 | *** | *** | *** | *** | **** | *** | *** | *** | * |
* Small quantities minted for sets only |
Andorra, officially the Principality of Andorra, is a sovereign landlocked country and microstate on the Iberian Peninsula, in the eastern Pyrenees, bordered by France to the north and Spain to the south. Believed to have been created by Charlemagne, Andorra was ruled by the count of Urgell until 988, when it was transferred to the Roman Catholic Diocese of Urgell. The present principality was formed by a charter in 1278. It is currently headed by two co-princes: the bishop of Urgell in Catalonia, Spain and the president of France. Its capital and largest city is Andorra la Vella.
The euro is the official currency of 20 of the 27 member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 344 million citizens as of 2023. The euro is divided into 100 cents.
There are eight euro coin denominations, ranging from one cent to two euros. The coins first came into use in 2002. They have a common reverse, portraying a map of Europe, but each country in the eurozone has its own design on the obverse, which means that each coin has a variety of different designs in circulation at once. Four European microstates that are not members of the European Union use the euro as their currency and also have the right to mint coins with their own designs on the obverse side.
The peseta was the currency of Spain between 1868 and 2002. Along with the French franc, it was also a de facto currency used in Andorra.
The euro area, commonly called eurozone (EZ), is a currency union of 20 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies.
The franc, also commonly distinguished as the French franc (FF), was a currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It was reintroduced in 1795. After two centuries of inflation, it was redenominated in 1960, with each new franc (NF) being worth 100 old francs. The NF designation was continued for a few years before the currency returned to being simply the franc. Many French residents, though, continued to quote prices of especially expensive items in terms of the old franc, up to and even after the introduction of the euro in 2002. The French franc was a commonly held international reserve currency of reference in the 19th and 20th centuries. Between 1998 and 2002, the conversion of francs to euros was carried out at a rate of 6.55957 francs to 1 euro.
The European Union has a number of relationships with foreign states. According to the European Union's official site, and a statement by Commissioner Günter Verheugen, the aim is to have a ring of countries, sharing EU's democratic ideals and joining them in further integration without necessarily becoming full member states.
A customs union is the principal area of robust formal agreement between the Principality of Andorra and the European Union (EU). Andorra borders two EU member states: France and Spain.
Lesbian, gay, bisexual, and transgender (LGBT) rights in Andorra have advanced significantly in the 21st century. Civil unions, which grant all the benefits of marriage, have been recognized since 2014, and discrimination on the basis of sexual orientation is constitutionally banned. The General Council passed a bill on 21 July 2022 that will legalize same-sex marriage in 2023, and convert all civil unions into civil marriage.
Montenegro is a country in South-Eastern Europe, which is neither a member of the European Union (EU) nor the Eurozone; it does not have a formal monetary agreement with the EU either. However, it is one of the two territories that has unilaterally adopted the euro in 2002 as its de facto domestic currency. This means that the euro is not a legal tender there; however, it is treated as such by the government and the population.
Currently, all of the European microstates have some form of relations with the European Union (EU).
Futbol Club Andorra is a professional football club based in Andorra la Vella, Andorra, that currently competes in Segunda División, the second tier of the Spanish league system. The club was founded in 1942 and currently plays its home fixtures at Estadi Nacional. In spite of being based in the microstate of Andorra, the club, voluntarily affiliated to the Catalan Football Federation, has been allowed to compete in Spanish leagues since 1948.
The enlargement of the eurozone is an ongoing process within the European Union (EU). All member states of the European Union, except Denmark which negotiated an opt-out from the provisions, are obliged to adopt the euro as their sole currency once they meet the criteria, which include: complying with the debt and deficit criteria outlined by the Stability and Growth Pact, keeping inflation and long-term governmental interest rates below certain reference values, stabilising their currency's exchange rate versus the euro by participating in the European Exchange Rate Mechanism, and ensuring that their national laws comply with the ECB statute, ESCB statute and articles 130+131 of the Treaty on the Functioning of the European Union. The obligation for EU member states to adopt the euro was first outlined by article 109.1j of the Maastricht Treaty of 1992, which became binding on all new member states by the terms of their treaties of accession.
The international status and usage of the euro has grown since its launch in 1999. When the euro formally replaced 12 currencies on 1 January 2002, it inherited their use in territories such as Montenegro and replaced minor currencies tied to pre-euro currencies, such as in Monaco. Four small states have been given a formal right to use the euro, and to mint their own coins, but all other usage outside the eurozone has been unofficial. With or without an agreement, these countries, unlike those in the eurozone, do not participate in the European Central Bank or the Eurogroup.
Listed below are articles about or related to Andorra, arranged alphabetically:
Relations between the Republic of San Marino and the European Union (EU) began in February 1983. San Marino is completely surrounded by one EU member state, Italy.
Relations between the Principality of Monaco and the European Union (EU) are primarily conducted through France. Through that relationship Monaco directly participates in certain EU policies. Monaco is an integral part of the EU customs territory and VAT area, and therefore applies most measures on excise duties and VAT. Monaco borders one EU member state: France. However this relationship does not extend to external trade. Preferential trade agreements between the EU and third countries apply only to goods originating from the customs territory – Monaco may not claim EU origin in this respect.
The Estadi Nacional is a stadium located in Andorra la Vella. It is the national stadium of Andorra, and is used for association football and rugby union.
In the parliamentary elections in Andorra on 2 April 2023, the incumbent liberal-conservative coalition between Democrats for Andorra (DA) and Committed Citizens (CC) won an absolute majority led by Prime Minister Xavier Espot. This is the fourth legislature in a row in which DA governs the country. A new party, Concord, emerged in second place, taking the opposition leadership held by the Social Democratic Party since 2019, which fell to third place by losing four seats.