Afterwards it regained and its exchange rate reached its historical highest point in 15 July vs U. With the advent of the global financial crisis the euro initially fell, to regain later. Despite pressure due to the European sovereign-debt crisis the euro remained stable. The formal titles of the currency are euro for the major unit and cent for the minor one hundredth unit and for official use in most eurozone languages; according to the ECB, all languages should use the same spelling for the nominative singular.
Since the financial crisis of —08 , the eurozone has established and used provisions for granting emergency loans to member states in return for enacting economic reforms. December Learn how and when to remove this template message. User Username Password Remember me. Journal of Money, Credit and Banking. The crisis in Cyprus is partly the consequence of decisions made on private sector involvement in the previous Greek bailout, and other such examples may be made. The prevailing legal opinion [37] [38] is that there is no provision in any European Union treaty for an exit from the Eurozone.
Official practice for English-language EU legislation is to use the words euro and cent as both singular and plural, [97] although the European Commission's Directorate-General for Translation states that the plural forms euros and cents should be used in English. From Wikipedia, the free encyclopedia. This article is about the currency. For other uses, see Euro disambiguation. For other uses, see EUR disambiguation. Other partial users 1. Single euro payments area 13 from Abandoned treaties and agreements. Council of the EU Presidency.
European Court of Justice. Participating Schengen Area States. Candidate Countries for EU Membership. Foreign relations of EU Member States.
Euro coins and Euro banknotes. Single Euro Payments Area. History of the euro. This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. December Learn how and when to remove this template message. Eurozone crisis and Greek government-debt crisis.
Eurozone , International status and usage of the euro , and Enlargement of the eurozone. International status and usage of the euro. External adopters of the euro. Currencies pegged to the euro. Currencies pegged to the euro within narrow band. External adopters of the US dollar.
Buy A Banking Union for the Euro Area: Read Kindle Store Reviews - www.farmersmarketmusic.com It discusses the benefits and costs of a banking union, presents a steady state view of "A Banking Union for the Euro Area," IMF Staff Discussion Notes 13/01, .
Currencies pegged to the US dollar. Currencies pegged to the US dollar within narrow band. Euro exchange rate against U. Linguistic issues concerning the euro. Euro portal Money portal European Union portal Numismatics portal. The Caribbean Netherlands introduced the United States dollar in Official Journal of the European Union. Retrieved 30 May Retrieved 17 July Archived from the original on 7 June Total EUR currency coins and banknotes in circulation Archived from the original PDF on 22 February Retrieved 13 December Federal Reserve Statistical Release.
Board of Governors of the Federal Reserve System. Retrieved 1 April Archived from the original on 15 January Retrieved 29 May Retrieved 8 September Bank for International Settlements. Retrieved 7 February Retrieved 25 July Retrieved 27 December Retrieved 8 December Retrieved 28 August Retrieved 14 February Retrieved 5 March Retrieved 29 January The European Central Bank: History, Role and Functions pdf 2nd ed.
Retrieved 18 December The adjustment is done on the basis of data provided by the European Commission. Retrieved 7 April Retrieved 26 November Archived from the original PDF on 5 December Retrieved 16 November Rules for expressing monetary units". Archived from the original on 6 March Retrieved 17 December Central Bank of Ireland. Retrieved 26 January The introduction of euro banknotes and coins one year after COM ".
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Retrieved 1 December Retrieved 24 July Retrieved 2 January A Critical Review of Sterp". Retrieved 30 April Retrieved 8 July Archived from the original PDF on 25 August Retrieved 17 September Retrieved 8 November Straw says eurozone 'will collapse ' ". Triennial Central Bank Survey. Retrieved 22 March Risk aversion in the Eurozone , Research in Economics , vol.
Evidence from the European Car Market". Journal of International Economics. The History of the Bundesbank: Lessons for the European Central Bank. The Euro and European Labour Markets". Journal of Public Policy. Retrieved 2 October Archived from the original PDF on 24 July Review of International Economics. Review of World Economics. Retrieved 13 July Is there a Positive Effect? Archived from the original PDF on 3 September The trade effect of the euro in historical perspective".
Journal of International Money and Finance. Archived from the original PDF on 31 August Archived from the original PDF on 6 July International Journal of Central Banking. Retrieved 23 August Journal of Money, Credit and Banking. Retrieved 12 November Quarterly Journal of Economics. Journal of Empirical Finance.
Journal of the Japanese and International Economies. Lane 22 August The origins of the euro crisis". Retrieved 16 September Archived from the original on 17 March Retrieved 13 March Evidence from micro data" PDF. Archived from the original PDF on 19 July Retrieved 28 December Retrieved 28 March Retrieved 29 December The euro is the single currency of the member states that have adopted it. To make this singleness apparent, Community law requires a single spelling of the word euro in the nominative singular case in all community and national legislative provisions, taking into account the existence of different alphabets.
Retrieved 12 January English Style Guide section Like 'pound', 'dollar' or any other currency name in English, the word 'euro' is written in lower case with no initial capital and, where appropriate, takes the plural 's' as does 'cent'.
Euro at Wikipedia's sister projects. In the following weeks, the German government quickly backtracked on the commitment about direct bank recapitalisation by the ESM. However, the creation of the Single Supervisory Mechanism proceeded apace. Europe's banking union has been identified by many analysts and policymakers as a major structural policy initiative that has played a significant role in addressing the Eurozone crisis. Bruegel , a Brussels-based think tank , has been credited for popularising both the concept and the expression of European banking union. The single rulebook is a name for the EU laws that collectively govern the financial sector across the entire European Union.
One pillar of the banking union is the Single Supervisory Mechanism SSM , which would grant the European Central Bank ECB a supervisory role to monitor the implementation of the single rulebook and the financial stability of banks based in participating states.
Participation is automatic for eurozone states. Since the EU treaties only give the ECB jurisdiction over eurozone states, legally it cannot enforce measures in non-eurozone state. This would prevent the ECB from effectively carrying out its supervisory role in these states. However, the SSM allows for non-eurozone states to enter into a "close cooperation" agreement with the ECB to let banks in that country be supervised by the ECB provided that they have mechanisms in place to make ECB measures binding upon national authorities.
A "close cooperation" agreement can be ended by the ECB or by the participating non-eurozone member state. While all banks in participating states will be under the supervision of the ECB, this will be carried out in co-operation with national supervisors. However, if a bank is in danger of failing, the responsibility for resolving it rests with the Single Resolution Mechanism. The SSM was enacted through two regulations: The Single Resolution Board would be directly responsible for the resolution of significant banks under ECB supervision, while national authorities would take the lead in smaller banks.
The proposed Regulation was put forward by the European Commission in July Non-eurozone countries cannot become full members of the SSM and SRM in the sense of having the same rights and obligations as eurozone members. It would allow banks in that country to be supervised by the ECB provided that they have mechanisms in place to make ECB measures binding upon national authorities.
The first request to enter into "close cooperation" was made by Bulgaria on 18 July The Danish government announced in April its intention to join the banking union. Bulgaria's Finance Minister, Vladislav Goranov , stated in July that his country would not participate prior to euro adoption. Sweden's Financial Markets Minister Per Bolund has said that the country is conducting a study on joining, which is planned to be completed by From Wikipedia, the free encyclopedia.
Signatories that have not ratified. EU members that may accede to the treaty. Retrieved 30 May Retrieved 31 December Opening Remarks by Christine Lagarde". Presidency of the European Council. Retrieved 7 July Retrieved 20 September Finnish Ministry of Finance. Retrieved 28 May Council of the European Union. Official Journal of the European Union. Retrieved 29 May