Economic and monetary union.The EMU (economic, monetary union) (Edexcel A-Level Politics): Flashcards
📚Flashcards
Practise the cards
15 cards from this deck
ShowHide
Practise the cards
15 cards from this deck
When was the ERM established?
When was the ERM established?
1978
When was the Maastricht Treaty signed?
When was the Maastricht Treaty signed?
1992
EMU's single currency
EMU's single currency
Euro
How many stages of EMU integration?
How many stages of EMU integration?
Three
At which stage can states adopt the Euro?
At which stage can states adopt the Euro?
Third stage
Countries that opted out of EMU
Countries that opted out of EMU
UK and Denmark
When was the SGP established?
When was the SGP established?
1996
Are SGP guidelines binding?
Are SGP guidelines binding?
Non-binding
What does SGP aim to maintain in Eurozone?
What does SGP aim to maintain in Eurozone?
Low inflation
Who controlled EU monetary policy before EMU?
Who controlled EU monetary policy before EMU?
German Federal Bank
What does the Euro represent politically?
What does the Euro represent politically?
Step toward federalist economic union
Which body sets EMU monetary policy?
Which body sets EMU monetary policy?
European Central Bank (ECB)
What GDP deficit limit did France/Germany exceed?
What GDP deficit limit did France/Germany exceed?
3%
Is the ECB elected or unelected?
Is the ECB elected or unelected?
Unelected independent central body
What democratic concern exists with ECB?
What democratic concern exists with ECB?
Democratic deficit