Scenarios about 'currency union'
A formal agreement between multiple countries to share a common currency or maintain fixed exchange rates between their currencies. Currency unions typically involve coordinated monetary policies, shared financial institutions, and economic integration, as seen in the eurozone or historical examples like the Latin Monetary Union. These arrangements aim to facilitate trade, reduce transaction costs, and promote economic stability, though they often require participating nations to surrender some control over their monetary sovereignty.
What If New Zealand and Australia Adopted a Shared Currency?
Exploring the economic, political, and social consequences if New Zealand and Australia implemented a common currency, transforming trans-Tasman relations and their position in the global economy.