currency union
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currency union
An association of two or more states that introduce a common currency or keep their national currencies in a fixed exchange-rate relationship with one another.
Die Europäische Wirtschafts- und Währungsunion führte zur Einführung des Euro als gemeinsamer Währung.
The European Economic and Monetary Union led to the introduction of the euro as a common currency.
The word is composed of 'die Währung' (currency) and 'die Union' (union). The 's' in between is a linking s that connects the two parts. The meaning is literally a union of states with a common currency.
Die Mitgliedsstaaten bilden eine Währungsunion.
The member states form a currency union.
'Währungsunion' (currency union) is a technical term from the fields of politics and economics. It is often found in the news, specialist texts, and political discussions.
Im Wirtschaftsunterricht haben wir über die Vor- und Nachteile einer Währungsunion gesprochen.
In economics class, we talked about the advantages and disadvantages of a currency union.
Common verbs used in connection with 'Währungsunion' (currency union) are 'eine Währungsunion gründen' (to establish a currency union), 'einer Währungsunion beitreten' (to join a currency union), or 'aus einer Währungsunion austreten' (to leave a currency union).
Einige Ökonomen diskutieren, ob das Land der Währungsunion beitreten sollte.
Some economists are discussing whether the country should join the currency union.
Eurozone
The Eurozone specifically refers to the group of EU states that have officially adopted the euro. A Währungsunion (currency union) is a more general association of several states with a common currency or closely linked national currencies. For the euro countries, Eurozone is therefore the more precise term.
Mehrere Staaten bilden durch die Einführung einer gemeinsamen Währung eine Währungsunion.
Several states form a currency union by introducing a common currency.
Kroatien gehört seit der Einführung des Euro zur Eurozone.
Croatia has been part of the Eurozone since the introduction of the euro.
