word

Monetary Union

MON-eh-ter-ee YOON-yun

/ˈmɒnɪtəriː ˈjuːnjən/

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Syllable breakdown

monetaryunion

Dictionary meaning

Economic arrangement where multiple countries share a single currency — the Eurozone is the largest monetary union; participants lose the ability to devalue their currency; requires coordinated monetary policy; a Greek debt crisis shows the tension between shared currency and independent fiscal policy

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