The Eurozone (Junior Cert Business Studies): Flashcards
📚Flashcards
Practise the cards
14 cards from this deck
ShowHide
Practise the cards
14 cards from this deck
Countries in the Eurozone using the euro
Countries in the Eurozone using the euro
19 EU member states
Year the euro was first introduced
Year the euro was first introduced
1999
Date physical euro notes and coins became available
Date physical euro notes and coins became available
1st January 2002
What is the ECB
What is the ECB
European Central Bank - manages eurozone monetary policy
Location of ECB headquarters
Location of ECB headquarters
Frankfurt, Germany
ECB's role in managing borrowing costs
ECB's role in managing borrowing costs
Sets interest rates throughout the eurozone
Effect of lower interest rates set by ECB
Effect of lower interest rates set by ECB
Encourages more spending and investment
Effect of higher interest rates set by ECB
Effect of higher interest rates set by ECB
Helps keep inflation under control
ECB's role with euro banknotes
ECB's role with euro banknotes
Oversees printing and distribution of euro banknotes
ECB's banking supervision role
ECB's banking supervision role
Monitors banks to protect deposits and ensure stability
Benefit of common currency: Price transparency
Benefit of common currency: Price transparency
Makes it easier to compare prices across countries
Benefit of euro: Trade simplification
Benefit of euro: Trade simplification
No currency exchange costs or fluctuating exchange rates
Benefit of euro for Irish tourism
Benefit of euro for Irish tourism
Visitors don't need to exchange money, more convenient
Benefit of euro for Irish businesses
Benefit of euro for Irish businesses
No need to exchange currencies or worry about exchange rates