Answer given by Mr Gentiloni on behalf of the European Commission

19.9.2022

Article 140 of the Treaty on the Functioning of the European Union (TFEU)[1] sets out a procedure and a number of conditions for the adoption of the euro in order to achieve an Economic and Monetary Union with a single currency among all the Member States of the European Union.

According to Article 140(3) TFEU and, more generally, the provisions of the treaties on economic and monetary union, membership in the euro area is legally irrevocable.

The single currency is a source of protection and empowerment, a strategic asset for Europeans.

• [1] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A12012E%2FTXT