(4)Neither Greenland nor the Faroe Islands form part of the territory of the Union as determined in accordance with Article 52 of the Treaty on European Union and Article 355 of the Treaty on the Functioning of the European Union. Those territories form part of the currency area of Denmark. Greenland and the Faroe Islands therefore comply with the criterion set out in point (a) of the second subparagraph of Article 24(1) of Regulation (EU) 2015/847.