currency union English

Synonyms currency union synonyms

What other words have the same or similar meaning as currency union?

currency union English » English

monetary union

common currency

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Later writers came to recognize that there are other essential criteria for a successful currency union, which are difficult to achieve without deep political integration.

Later, Maurice Obstfeld pointed out that, in addition to fiscal transfers, a currency union needs clearly defined rules for the lender of last resort.

Peter Kenen argued in the late 1960's that without exchange-rate movements as a shock absorber, a currency union requires fiscal transfers as a way to share risk.

But, in a currency union with huge differences in income and development levels, the short term can stretch out for a very long time.