The European Monetary Union (Leaving Cert Business): Flashcards
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Number of EU countries in European Monetary Union
Number of EU countries in European Monetary Union
20 EU countries
Business cost advantage of euro
Business cost advantage of euro
Eliminates currency exchange fees within Eurozone
Interest rate advantage of euro
Interest rate advantage of euro
Lower interest rates & lower government borrowing costs
Price stability benefit of euro
Price stability benefit of euro
Maintains low inflation rates & stable prices over time
Euro impact on trade between Eurozone countries
Euro impact on trade between Eurozone countries
Increases trade - facilitates easier & more efficient trade
Price transparency advantage of euro
Price transparency advantage of euro
Consumers can easily compare prices across countries
Ireland's economic control disadvantage with euro
Ireland's economic control disadvantage with euro
Limited ability to set own monetary policy
Competition disadvantage of euro
Competition disadvantage of euro
Increased competition as market barriers are reduced
UK relationship with euro
UK relationship with euro
UK does not use euro - complicates trade & economic relations
Body controlling Eurozone monetary policy
Body controlling Eurozone monetary policy
European Central Bank