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    What's the difference betweem the European EMU (Economic and Monetary Union) amd the ECB (European Central Bank)?

    The ECB set the interest rate for the Eurozone area (plus other things) and EMU implies Economic and Monetary union, whereby the creation of a single market by getting rid of artificial barriers and other non-tariff barriers and Monetary union is about having a single currency between member states or fixing of exchange rates to achieve stability and low inflation and long term interest rates.

    If your doing the a-level economics exam in it, you also need to know the + ve and - ve of EMU..e.g. reduced transaction costs etc etc...
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Updated: January 31, 2005

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