monetary union
Shared money system
A monetary union is an agreement among countries to share a single currency or maintain fixed exchange rates between their currencies.
Members typically coordinate economic policies and may establish a central bank to manage the shared monetary system.
The European Union's adoption of the euro is the most prominent modern example.
The monetary union required member states to meet strict fiscal criteria before joining.
- euroShared continental currency
- European Central BankEurozone's monetary authority
- common currencyMutually accepted money
- currencyMedium of exchange
- central bankNational currency management institution
Bretton Woods system · interest rates · single market · fiscal policy · opt-out clause · economic · supranational · inflation · common market · fiscal · austerity · debt crisis · bailout fund · Eurozone · eurozone crisis · exchange rate · integration · Greece
- financebank, CFO, banks, controller, finance
- economic policytax policy, fiscal discipline, fiscal stimulus, fiscal restraint, tariff
- German CurrencyDeutsche Mark, Deutschmark, euro, euro cent, pfennig
- monetary policyinflation, central banking, deflation, central bank, interest rates
- CFA ZoneCFA franc, banknotes, Benin, Burkina Faso, Cameroon
- currency unionssingle currency, common currency, eurozone, CFA franc, euro
monetary unionmonetary sovereignty
Control over own currency
economic nationalism · dollarization · Grexit · Brexit · autarky
money, union, monetary, monies, moneys, monetize, minter, nonmonetary, monetized