The eurozone is a group of European Union countries that have adopted the euro as their official currency. This economic and monetary union allows for easier trade and travel among member nations, as they share a common currency and monetary policy set by the European Central Bank. As of 2023, the eurozone includes 20 of the 27 EU member states. Countries in the eurozone benefit from reduced exchange rate risks and increased economic stability, but they also face challenges, such as coordinating fiscal policies and addressing economic disparities among member nations.