Monetary Union

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Monetary Union

A group of independent countries that share a single currency. That is, these countries, while maintaining sovereignty on economic policy, taxes, and similar issues, have transferred responsibility for a monetary policy to a central bank shared by participating members. The most famous monetary union is the eurozone, though another example is the West African Monetary Union. A monetary union is also called a currency union.
References in periodicals archive ?
The meeting discussed the agenda related to the single currency trade, to make strong linkages
Global Banking News-July 8, 2016--Liberian Senate Committee wants the nation to adopt a single currency system
So far, all the plans for introducing the single currency on the territory of Russia, Belarus and Kazakhstan are theoretical, senior analyst of Alpari company Anna Bodrova said in an interview with CA-News.
The single currency for the countries of the Customs Union and the currently formed Eurasian Economic Union will
ASTANA (CyHAN)- The issue regarding a single currency within the Eurasian Economic Community (EAEC) was not discussed and it is not included into the draft contract, according to Kazakh First Deputy Prime Minister, Bakytzhan Sagintayev.
The Single Currency and European Citizenship: Unveiling the Other Side of the Coin
However, he also suggested Britain could still join the single currency area - if it stabilised.
If the decision had been made at the beginning, when it was obvious that Greece could not survive within the single currency, to allow the orderly and controlled withdrawal of Greece from the single currency there may have been a chance of success for the remaining members, but to allow one withdrawal opened the door for others to follow the same route and that would have defeated the true aim, the creation of a Federation of European States with full fiscal and political union for all the members, which is now openly mooted as the most suitable way to end the European crisis.
WPU is a single currency unit constructed from a basket of developed currencies, emerging currencies and storable commodities
There were celebrations outside the headquarters of the European Central Bank (ECB) in Frankfurt to welcome the arrival of the single currency into the lives of ordinary people.
JOHN MAJOR grudgingly backed Euro as the name of Europe's single currency yesterday committing Britain to scrap the pound and centuries of tradition if and when the Government signs up.
The majority of citizens surveyed in the Gulf Cooperation Council (GCC) countries endorsed the proposed GCC single currency, according to a report by the Social and Economic Research Institute (Sesri) at Qatar University.