On 2 February 2007, Saint Barthélemy and Saint Martin were politically separated from the French region Extreme Region (OMR) guadeloupe to form two new French overseas collectives. As a result, their status in the EU was momentaryly locked in until the ratification of the Lisbon Treaty confirmed that these two territories remained in the EU. During this period, the euro continued to be used without incident in both areas. When Saint Bartholomew became an overseas territory of the European Union on 1 January 2012 and changed its status to PTOM, the territory had to sign a monetary agreement to continue using the euro. [27] A similar agreement was negotiated with Andorra and came into force on 1 April 2012. [3] [16] Andorra had no official currency before. Prior to 2002, it used both the French franc and the Spanish peseta as de facto legal payment currencies, although they never had an official monetary agreement with the two countries, and switched to the euro (excluding the monetary agreement) when it was introduced on 1 January 2002. After years of negotiations, partly due to concerns about bank secrecy,[17] the EU and Andorra signed a monetary agreement on 30 June 2011 that made the euro the official currency of Andorra and allowed them to mark their own euro coins as of 1 July 2013, provided they complied with the terms of the agreement. [18] [19] However, the first Andorran euro coins were not put into circulation until January 2015. [20] [21] If Monaco joined the EU Customs Union at the same time as the founding states in 1963, it was thanks to customs agreements with France a century earlier. For their part, Andorra and San Marino signed these agreements in 1991.

However, since 2009, the EU has given new impetus to relations with these three neighbours, taking into account the “small territorial dimension” of these countries, by proposing a common framework. Several European micro-states outside the EU have adopted the euro as their currency. For the EU to sanction this adoption, a monetary agreement must be reached. Before the introduction of the euro, agreements were concluded with Monaco, San Marino and Vatican City by the EU Member States (Italy in the case of San Marino and Vatican City and France in the case of Monaco) that allow them to use the euro and mark a limited amount of euro coins (with their own national symbols on the front) valid throughout the euro area.