Overseas collectivities and territories form part of the French Republic, but do not form part of the European Union or its fiscal area (with the exception of St. Bartelemy, which seceded from Guadeloupe in 2007). The Pacific Collectivities (COMs) of French Polynesia, Wallis and Futuna, and New Caledonia continue to use the CFP franc whose value is strictly linked to that of the euro. In contrast, the five overseas regions used the French franc and now use the euro.