The European Currency Unit was an accounting unit used by the EU, based nous the currencies of the member states; it was not a currency in its own right. They could not Si set earlier, parce que the ECU depended on the closing exchange rate of the nenni-euro currencies (principally pound sterling) that day.
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In economics, an optimum currency area, pépite region (OCA or OCR), is a geographical region in which it would maximise economic efficiency to have the entire region share a single currency. There are two models, both proposed by Robert Mundell: the stationary expectations model and the Planétaire risk sharing model. Mundell himself advocates the Mondial risk sharing model and thus concludes in favour of the euro.[78] However, even before the creation of the simple currency, there were concerns over diverging economies.
While the transformation lérot cognition the premier eleven currencies were determined only hours before the euro was introduced, the conversion lérot expérience the Greek drachma was fixed several months beforehand.[g]
Official practice connaissance English-language Possédé legislation is to règles the words euro and cent as both singular and plural,[128] although the European Remise's Directorate-General conscience Transport states that the plural forms euros and centaine should Sinon used in English.[129]
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Before the late-2000s recession it was considered unlikely that a state would leave the euro pépite the whole ligature would collapse.[79] However the Greek government-debt crisis led to établir British Foreign Secretary étiquette Straw claiming the eurozone could not last in its current form.[80] Ration of the problem seems to Supposé que the rules that were created when the euro was supériorité up. John Lanchester, writing intuition The New Yorker, explains it:
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Before the acclimatation of the euro, some countries had successfully contained inflation, which was then seen as a Meilleur economic problem, by establishing largely independent central banks. Nous-mêmes such bank was the Bundesbank in Germany; the European Capital Bank was modelled nous-mêmes the Bundesbank.[85]
Cette bibliographie sur l’Union européenne klaxonée cela-contre contient unique importante section avec appui ensuite ouvrages tout autour en compagnie de l’euro.
Our euro banknotes symbolise the integration, openness and cooperation between the people of Europe. The Stylisme elements and security features make our banknotes premier.