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10 cards from this deck
Agreement between countries to share common currency & policy
1 January 1999
Maastricht Treaty (Treaty of the European Union)
20 EU member states
Complete single market & reduce exchange rate instability
Currency area with conditions for successful common currency
High trade, labour mobility, unified fiscal policy
Lacks sufficient labour mobility & common fiscal policy
Transfer wealth from richer to poorer regions via tax & spending
Large fall in real wages
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