One of the mysteries of the English language finally explained.
1A currency used by all the members of an economic federation.
- ‘Professor Robert Mundell, a Canadian economist famous for his work on single currencies, has long maintained that a currency union needs a high degree of political union to work successfully.’
- ‘Colin also says ‘single currencies’ only work where there is ‘free movement of labour.’’
- ‘How irrevocable is a single currency if members have sovereign parliaments and can leave?’
- ‘Tukur thinks the African economy will do better under a single currency.’
- ‘An equally important, albeit contested, factor is the link between the single market and a single currency.’
- 1.1 The currency (the euro) which replaced the national currencies of twelve member states of the European Union in 2002.
- ‘As new entrants to the European Union happily join the single currency, Britain could easily be in a minority of one among 25.’
- ‘We should only be part of the single currency if the economic conditions are met.’
- ‘The vast majority of the British population instinctively opposes the single currency.’
- ‘The third stage involved the irrevocable fixing of exchange rates and the replacement of national currencies by a single European currency.’
- ‘Opponents of the single currency claim Britain's economy is doing fine without it.’
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