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Economic and Monetary Union |
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Economic and Monetary Union A group of independent countries with a common market, no trade barriers between members, and a single currency. That is, in addition to the single currency, there are no tariffs on goods and services and citizens of participating countries may live and work in other countries with no restrictions. An economic and monetary union may be considered, for many (but not all) economic purposes, a single country. Political union and some autonomy in each country with respect to economic policy are the only aspects that keep an economic and monetary union from complete economic integration. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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