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Encyclopedia > Economic and monetary union
Trade Series
v  d  e
International trade
History of international trade
Free trade
Protectionism
Trade pact
Trade bloc
Preferential trading area
Free trade area
Customs union
Trade creation
Trade diversion
Monetary union
Common market
Economic and monetary union
Also see Economic and Monetary Union of the European Union.

An economic and monetary union is a single market with a common currency. It is to be distinguished from a mere currency union (e.g. the Latin Monetary Union in the 1800s), which does not involve a single market. International trade is the exchange of goods and services across international boundaries or territories. ... The history of international trade chronicles the way that the flow of trade over long distances has shaped, and been shaped by history. ... Free trade is an economic concept referring to the selling of products between countries without tariffs or other trade barriers. ... Protectionism is the economic policy of restraining trade between nations, through methods such as high tariffs on imported goods, restrictive quotas, a variety of restrictive government regulations designed to discourage imports, and anti-dumping laws in an attempt to protect domestic industries in a particular nation from foreign take-over... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Fiscal policy Spending   Deficit   Debt Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Banking   Regulation        A trade pact is a wide ranging tax, tariff and trade... A trade bloc is a large free trade area or free trade area formed by one or more tax, tariff and trade agreements. ... Preferential Trade Area is a trading bloc which gives preferential access to certain products from certain countries. ... A free trade area is a designated group of countries that have agreed to eliminate tariffs, quotas and preferences on most (if not all) goods between them. ... A customs union is a free trade area with a Common External Tariff. ... Trade creation is an economic term related to international economics in which trade is created by the formation of a customs union. ... Trade diversion is an economic term related to international economics in which trade is diverted by the formation of a customs union. ... In economics, a monetary union is a situation where several countries have agreed to share a single currency (also known as a unitary or common currency) among them, for example, the East Caribbean dollar. ... A single market is a customs union with common policies on product regulation, and freedom of movement of all the four factors of production (land, enterprise, capital and labour). ... In economics, a monetary union is a situation where several countries have agreed to share a single currency among them. ... A single market is a customs union with common policies on product regulation, and freedom of movement of all the four factors of production (land, enterprise, capital and labour). ... In economics, a monetary union is a situation where several countries have agreed to share a single currency among them, for example, the East Caribbean Dollar. ... The Latin Monetary Union (LMU) was a 19th century attempt to unify several European currencies into a single currency that could be used in all the member states, at a time when most national currencies were still made out of gold and silver. ...


This is the fifth stage of economic integration. Economic integration is a term used to describe how different aspects between economies are integrated. ...


EMU is established through a currency-related trade pact. Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Fiscal policy Spending   Deficit   Debt Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Banking   Regulation        A trade pact is a wide ranging tax, tariff and trade...

Contents

List of Economic and Monetary Unions

Current

  • The largest economic and monetary union at present is the Eurozone. The Eurozone consists of the European Union member states that have completed the third stage of the EMU by adopting the Euro. Some non-EU members have also adopted the Euro, but they are not part of this EMU.

The Eurozone (also called Euro Area, Eurosystem or Euroland) refers to the European Union member states that have adopted the euro currency union. ... In economics, a monetary union is a situation where several countries have agreed to share a single currency among them. ... “EUR” redirects here. ... The Eurozone (also called Euro Area, Eurosystem or Euroland) refers to the European Union member states that have adopted the euro currency union. ... “EUR” redirects here. ... In economics, a monetary union is a situation where several countries have agreed to share a single currency among them. ...

Proposed

Map showing CARICOM members, associates and observers Seat of Secretariat Georgetown, Guyana Official languages English4 Membership  15 full members1  5 associate members2  7 observers3 Leaders  -  Secretary-General Edwin W. Carrington (since 1992)  -  CARICOM Heads of Government   Establishment  -  August 1, 1973  Website http://www. ... The Economic Community of West African States (ECOWAS) is a regional group of fifteen countries, founded on May 28, 1975 when fifteen West African countries signed the Treaty of Lagos. ... Anthem To Be Determined Arusha, Tanzania Membership 5 East African states Leaders  -  Secretary General Juma Mwapachu Area  -  Total 1,817,945 km²   sq mi  Population  -   estimate 124,858,568   -  Density 55 /km²   /sq mi GDP (PPP) 2005 estimate  -  Total US$ 104. ... ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Pro Tempore Secretariat Brasília Official languages 4 Spanish Portuguese English Dutch Member states 12 Argentina Bolivia Brazil Chile Colombia Ecuador Guyana Paraguay Peru Suriname Uruguay Venezuela Leaders  -  President Rodrigo Borja  -  Tempore Secretary Jorge Taunay Filho Formation  -  Cuzco Declaration 8 December 2004  Area  -  Total 17,715,335 km² (1st2)  sq...  members of AEC pillar blocs  states signatories to the AEC Treaty, but not participating in any of the pillars The member states of the African Union are mounting efforts to collaborate economically, but they are impeded by the civil wars raging in several parts of Africa. ...

Defunct

  • The Belgium-Luxembourg Economic Union has been in place since 1921, though it has largely been subsumed by Benelux and the Eurozone.

The Belgium-Luxembourg Economic Union (BLEU) was created by a treaty signed on 25 July 1921 between Belgium and Luxembourg. ... Year 1921 (MCMXXI) was a common year starting on Saturday (link will display the full calendar). ... Location of Benelux in Europe Official languages Dutch and French Membership  Belgium  Netherlands  Luxembourg Website http://www. ... The Eurozone (also called Euro Area, Eurosystem or Euroland) refers to the European Union member states that have adopted the euro currency union. ...

See also

In economics, a monetary union is a situation where several countries have agreed to share a single currency (also known as a unitary or common currency) among them, for example, the East Caribbean dollar. ... Mount Washington Hotel The United Nations Monetary and Financial Conference, commonly known as Bretton Woods conference, was a gathering of 730 delegates from all 45 Allied nations at the Mount Washington Hotel, situated in Bretton Woods, New Hampshire to regulate the international monetary and financial order after the conclusion of...

External links

  • Economic and Monetary Union, EMU – on the euabc.com website

  Results from FactBites:
 
MSN Encarta - Economic and Monetary Union (970 words)
Economic and Monetary Union (EMU), process of establishing a single currency and a single monetary authority in the European Union (EU).
The European Monetary System (EMS) and the Exchange Rate Mechanism (ERM) were established in 1979, but they were not closely related to the EMU proposal since they envisaged, at least initially, frequent readjustments of exchange rates.
Monetary union proposals were revived in 1988 and moved forward rapidly.
Economic and Monetary Union - Wikipedia, the free encyclopedia (692 words)
In economics, a monetary union is a situation where several countries have agreed to share a single currency among them.
The 10 new countries that acceded to the European Union in 2004 all intend to join third stage of the EMU in the next ten years, though the precise timing depends on various economic factors.
The European Monetary Institute is established as the forerunner of the European Central Bank, with the task of strengthening monetary cooperation between the member states and their national banks, as well as supervising ECU banknotes.
  More results at FactBites »

 
 

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