| 单词 | monetary union |
| 释义 | monetary union Two or more countries with a single currency. Countries which formerly had independent monetary systems unite to adopt a single currency, or keep separate currencies but enter into a permanant and credible agreement to maintain a constant exchange rate between their currencies. A monetary union requires either a single central bank or the adoption of effective policy co-ordination between the central banks of the member countries; the Euro zone in fact has both. |
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