Currency union - Definition and Overview

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. A monetary union differs from an Economic and Monetary Union, where it is not just currency but also economic policy that is pooled or co-ordinated (as in the European Union Eurozone, for instance).

Existing monetary unions

• European Economic and Monetary Union (the euro)
• CFA Franc
• East Caribbean Dollar
• CFP Franc

Previous monetary unions

• Latin Monetary Union
• Scandinavian Monetary Union

External links

• The history of monetary unions (http://samvak.tripod.com/nm032.html)

Example Usage of Currency