Economics
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Title: Economics

Essay Details:

Subject: Business
Author: Donna G
Date: April 8, 2016
Level: University
Grade: A
Length: 2 / 301

Essay text:

The countries of the EU that remained outside the Euro land were the United Kingdom, Denmark and Sweden. The twelve EU countries formed an economic and monetary union (EMU) and started using the single currency – the euro. These countries locked the exchange rates of their national currencies to the euro (for Greece 1? = 340.75 GDR) and are sharing the new currency. However, euro notes and coins were introduced on 1 January 2002. The twelve countries share a single interest rate, set by the European Central Bank (ECB), and a single foreign exchange rate. The ECB is responsible for the monetary policy of these euro zone countries...

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