This should not be confused with the European Council . Euro area : the area encompassing those EU Member States in which the euro has been adopted as the single currency in accordance with the Treaty and in which a single monetary policy is conducted under the responsibility of the Governing Council of the ECB .
Euroala : Euroopa Liidu liikmesriigid , kus vastavalt EÜ asutamislepingule on ühisrahana kasutusele võetud euro ning kus EKP nõukogu vastutusel kujundatakse ühtset rahapoliitikat .