word
Monetary Union
MON-eh-ter-ee YOON-yun
/ˈmɒnɪtəriː ˈjuːnjən/Listen
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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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