Member State with a derogation

What is Member State with a derogation?

Member State with a derogation definition and meaning on Finance terms:
A Member State that is, as set out in Article 140 TFEU, preparing to adopt the euro, but has not yet done so. There are currently 7 Member States with this status: rights and obligations relating to the introduction of the euro as a single currency do not apply to them. The cases of Denmark and the United Kingdom are different in that these two Member States have been granted an exemption from participating in the third stage of Economic and Monetary Union. <