In this page you will find useful information about the nineteen countries that adopted the euro. Be sure to focus on one of them on your research and to select a topic relevant to its economy from the challenge sheets section.



Austria has a well-developed ‘social market economy’ with a high standard of living and is closely tied to other EU economies, especially Germany’s. But it faces challenges. (More information coming soon)



Belgium’s open economy and financial sector made it especially vulnerable to the economic downturn, and the country faces several structural challenges on the road to recovery. (More information coming soon)



More than a decade of sustained and strong economic expansion in Cyprus came to an end in 2009 as the global economic crisis took its toll. (More information coming soon)


Estonia’s economy was hit hard during the financial crisis, but it is now recovering, thanks to economy’s flexibility and governmental decisions. (More information coming soon)


Finland, a highly open economy, was hard hit by the financial and economic crisis. Structural reforms, especially in the labor market, will help it to re-gain economic momentum. (More information coming soon)


The French economy managed to stave off a more severe recession than other advanced economies, but the recovery is fragile and the economy is in need of growth-enhancing and deficit-reducing reforms. (More information coming soon)


Germany, Europe’s economic engine, is slowly regaining the ground lost in the crisis, but still faces long-term structural challenges. (More information coming soon)



Greece has to undergo significant fiscal adjustment and implement far-reaching reforms to reduce its high deficit, stabilize its debt level, and emerge from the current crisis. (More information coming soon)


After years of rapid growth, the “Celtic Tiger” was among the European economies hardest hit by the global economic crisis. Recent reforms have put Ireland back on track towards a sustainable economic future, making it a success story in the recovery from the euro. (More information coming soon)


Following years of slow growth, the economic crisis highlighted Italy’s structural problems, in particular its issues with competitiveness and fiscal discipline. Nonetheless, the country is on a path to recovery. (More information coming soon)


Latvia joined the euro area in 2014. Latvia’s economy has turned around from a deep contraction during the recent global crisis. (More information coming soon)



Lithuania is one of the 3 Baltic States, and it became member of the EU in 2004. Lithuanians started using the euro on January 2015. (More information coming soon)


The stability of its banks and the productivity of its manufacturing industry sheltered the wealthiest country in the EU from the worst of the financial and economic turmoil of the global crisis. (More information coming soon)


Malta’s economic growth exceeded the euro area average for several years and was led by robust domestic demand and export expansion. The global financial and economic crisis did not spare Malta, but it was one of the least affected countries in the EU. (More information coming soon)


The global financial and economic crisis had a deep impact on the Dutch economy due to its trade and financial linkages. (More information coming soon)


The financial crisis highlighted Portugal’s issues with low productivity, weak competitiveness and high public debt. (More information coming soon)



A success story of strong growth led by exports and foreign direct investment, the Slovak economy took a strong hit in the recent crisis. (More information coming soon)


Due to its dependence on trade, this role model for successful economic liberalization and European integration was impacted in the recent crisis. (More information coming soon)


After the Spanish economic miracle ended with the burst of the housing bubble in 2007/2008, Spain’s economy now faces severe challenges. (More information coming soon)