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Why is Denmark not in the euro?

The opt-out and the vote in 2000

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Short answer

Denmark has an opt-out in the EU Treaty that lets it stay outside the euro area even when it meets all the conditions. On 28 September 2000 Danish voters were asked in a referendum whether Denmark should join the common currency. The result was 53.2 % no and 46.8 % yes among valid votes, with a turnout of 87.6 %. Since then Denmark has kept the krone, pegged to the euro through ERM II.

Danish kroner and euro

Why

  1. The opt-out is written into the EU Treaty.
  2. 1,842,814 people voted no in 2000.
  3. The krone stayed in ERM II after the vote.

Details

Cooperation between Danmarks Nationalbank and the European Central Bank continued after the vote.

Tip

For travel and budgeting, the result is simple: plan every payment in Denmark in kroner.

What may differ

Denmark is not obliged to adopt the euro, but the status can change if Denmark decides otherwise later.

Common misconception

Denmark was refused entry to the euro by the EU.

What actually happens

Denmark chose to stay out: it has an opt-out, and voters said no in 2000.

People also ask

  • Does Denmark use the euro?
  • How is the krone pegged to the euro?
  • When was the Danish krone introduced?

Sources

This answer is for reference only. Payment rules, limits and fees change, so check the official sources or your bank before you pay.

Danish kroner and euro
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