The EUR Monetary Union
The Monetary Union (also called The Currency Union) - one of the form of states economic integrations, which is based on:
- the full liberalization of capital flowing between member states.
- the integration of bank and financial services
- freezing exchange rate of member countries
- introducing the common currency
One of the example of the Monetary Union is the Economic and Currency Union, which has been begun after putting the Maastricht treaty into practice. In this treaty had been enclosed law basics, area of activity and criteria which are put to the member states. In case of that union exists a common goods and services market and economic policy coordination of its members by multilateral surveillance. The European Central Bank, the main institution of monetary market of the states which have got the euro, coordinates common monetary policy. This policy is created by the Europeans’ System of the Central Banks.
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