Beyond contributing to bringing diversity to the foreign exchange market, we may wonder and why are they not using the euro? Let's take a closer look at five of them: Bulgaria, the Czech Republic, Hungary, Poland and Romania. The Bulgarian lev (BGN) The Czech Republic meets two of the five conditions for joining the euro as of June 2022; their inflation rate, not being a member of the European exchange rate mechanism, and the incompatibility of its domestic legislation are the conditions not met. Proponents of the euro argue that the single currency reduces exchange rate risk and is better able to compete with other major world currencies. The U.K. government determined that the euro did Understanding the European Union There are currently 27 nations in the European Union and of these, eight countries are not in the eurozone—the unified monetary system using the euro. The Czech Republic refused to join the eurozone "fiscal pact" because of complicated domestic politicking, writes the BBC's Rob Cameron. PRAGUE — A shooting in downtown Prague killed several people and wounded dozens of others, and the person who opened fire is dead, Czech police said Thursday. Police gave no details about the The Czech Republic is not ready to meet the criteria for joining the Eurozone and the government should refrain from setting a date for adopting the euro, for now, a document presented by the finance ministry and the Czech National Bank says. These are countries where the euro has still not been adopted, but who will join once they have met the necessary conditions. Mostly, it consists of countries of member states which acceded to the Union in 2004, 2007 and 2013, after the euro was launched in 2002. Bulgaria; Czechia; Hungary; Poland; Romania; Sweden European Union member states 20 in the eurozone 1 in ERM II, without an opt-out ( Bulgaria) 1 in ERM II, with an opt-out ( Denmark) 5 not in ERM II, but obliged to join the eurozone on meeting the convergence criteria ( Czech Republic, Hungary, Poland, Romania, and Sweden) Non-EU member states Czechia is not yet a member of the euro area. The Czech koruna has not yet joined the Exchange Rate Mechanism (ERM II). Exchange rate. The current euro to Czech koruna foreign exchange reference rate can be consulted on the website of the European Central Bank (updated daily). Adoption of the euro: Czechia does not have a target date to adopt OWtX.