What's the difference betweem the European EMU (Economic and Monetary Union) amd the ECB (European Central Bank)?
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Difference between EMU and ECB watch
- Thread Starter
- 31-01-2005 19:21
- 31-01-2005 20:00
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...