Sentences with phrase «currency union»
A currency union is when two or more countries decide to use the same currency. It means that people and businesses in these countries will have the same money to buy and sell things, making it easier to trade and travel between them. Full definition
The SNP's support for currency union is itself a new development, with an origin in the difficulties the euro faced.
politics.co.uk
Among those definitely opposed to independence, concerns about the performance of the Scottish economy and uncertainty over currency union dominated.
If that happens, their debts will continue to rise, investors will flee from the euro and the entire currency union could break apart.
The independence side also appears to have hit a rich vein in campaigning on risks to the NHS if Scotland stayed in the union and convinced many voters that Westminster is bluffing in its refusal to enter into currency union with Scotland.
On the bright side, future generations will not consider the dopey idea of currency unions without political union.
Investors have long acknowledged the possibility of a Greek withdrawal from the 17 - nation euro currency union as the country struggles to meet harsh austerity targets that are a condition of getting international bailout money.
Osborne called Alex Salmond's bluff about Scotland refusing to pay its part of the UK's debt if Westminster did not play ball on currency union in the event of a «yes» vote.
But, not only have there been strong arguments since 2008 that maintaining individual currencies may not have been a bad thing (you can't have currency union without fiscal union)...
Scottish deputy first minister condemns threats to reject currency union as «cack - handed panicky» tactics
Why would Britain enter into currency union so it can shackle itself to an independent state but still have to bail it out if things go pear shaped — a not unrealistic scenario given Salmond's judgement?
It won't fix the problem in the long term, because fiscal fetishism, while bafflingly politically popular, does little against what is, at heart, a balance of payments crisis made particularly acute by currency union.
The only reason the combination of lower consumption and lower investment did put greater downward pressure on German GDP and German employment is because the rules of the European currency union eliminated adjustment mechanisms both in Germany and in its European partners, and so effectively forced nearly the entire German savings and production gap onto those parts of Europe that had a history of higher inflation.
The Chancellor of the Exchequer, as well as equivalent post-holders in the two other main UK political parties, rejected the idea of a formal currency union with an independent Scotland in February 2014.
Guardian / ICM poll finds popular support for Westminster parties» refusal to allow currency union in event of yes vote
Mundell's optimal currency union requiring flexible wages and prices is necessary but not sufficient.
Some analysts said Mr. Schäuble's discussion of a «temporary» exit from the eurozone for Greece was a veiled attempt to push it out of the 19 - member currency union for good.
So far Greece's turmoil hasn't spread to other countries in the 18 - country currency union, the way it did back in the crisis» most acute phase between 2010 and 2012.
That prospect challenges Salmond's assertion that the rest of the UK would agree to currency union because of the contribution of oil to its balance of payments.
And it's German resistance to fixing Europe's broken currency union that is hampering the abilities of countries like Italy and Greece to recover from the economic depression they are suffering from.
An EU source said barring some major Greek concession, euro zone leaders were more likely to discuss on Tuesday how to cope with a Greek exit, and how to reinforce the remaining currency union, than any new aid programme for Athens.
Germany, France, Italy and Spain, the union's four biggest economies, need to take the lead in solving the crisis by creating a smaller currency union that is «less imperfect,» said El - Erian, a former deputy director of International Monetary Fund.
«The standard SNP response is: «Does currency union make Germany or France any less independent?»
Salmond has heavily relied on the group for his arguments on currency but Beveridge's speech saw him admit that while currency union might be the preferred option it was «entirely possible» politics would prevent it from happening.
Its assumption that the sterling currency union would be permitted by the rump UK seemed a bit optimistic.
Their clash followed the publication of a Treasury report casting doubt on the ease with which Scotland could join a euro - style currency union.
[180] The Institute of Directors stated that any new transaction costs would «pale in comparison to the financial danger of entering an unstable currency union.»
While most overseas territories have either their own currencies, shared currencies under the East Caribbean dollar currency union, or indeed use the euro or US dollar, it is only the Falkland Islands and Gibraltar who share sterling as their currency.
There are various possibilities between full currency union and sterlingisation.
Sir Derek Jones: the Welsh government's top official on devolution and a year of «intense pressure and scrutiny» MPs: Nicholas Macpherson advice on Scottish currency union «should not have been published» Devolution - the impact on the future of the civil service
Salmond had assumed currency union was sufficiently in Westminster's interest for it not to take the risk of ruling it out.
Nicola Sturgeon accuses George Osborne of «bluff and bluster» for continuing to ruling out currency union talks.
Send the Eurozone to the ash - heap of other currency unions; they don't work.
EU treaties don't give the bloc the power to evict a country from the single currency union.
«The reality is that a formal currency union with a shared sterling area is overwhelmingly in the rest of the UK's economic interests following a «yes» vote, and the stance of any UK government will be very different the day after a «yes» vote to the campaign rhetoric we are hearing now.»
FRANKFURT, Germany (AP)-- The European Central Bank left its stimulus measures on hold Thursday and warned governments in the 19 country euro currency union that they need to do more to help the economy grow and push up inflation to healthier levels.
Alex Salmond has been hit by a triple - whammy of bad news in the Scottish referendum campaign, with serious questions being raised about North Sea oil, his plans for currency union and Scots» access to the BBC after independence.
On currency union, on pensions, they clearly have not thought things through, which is why the wheels are falling off the wagon.»
According to an MoU signed by the premier of Montserrat, the eight island economies comprising the Eastern Caribbean Currency Union may have a central bank - issued cryptocurrency in their future.
Salmond has threatened not to accept Scotland's share of the debt if Westminster refuses to enter into currency union, but financial experts have warned that would be seen as a default by the money markets.
Greece, as it tries to cling to — or exit — the European currency union?
The «Yes» campaign hoped the question over currency union would be put to bed by a speech this week by Crawford Beveridge, chair of the Fiscal Commission Working Group.
The EU is validating the idea that currency union requires political union.
Heartbroken fans of HBO's Game of Thrones will understand well the malevolent forces that threaten to destroy Europe's currency union.
Bank of England governor Mark Carney has said that «a currency union is incompatible with sovereignty.»
Italy is the eurozone's third largest economy, and its debt - to - GDP ratio of 133 % is the second largest in the currency union, after Greece.
And despite the fact that German Finance Minister Wolfgang Schäuble suggested once again on Thursday that he thinks that the Euro and Greece would be better off if Greece left the currency union.