If there’s a central bank in every country pretty much, what’s the purpose of the ECB (European central bank)?
Can you help explain this please sorry I didn’t understand that part
166 Views
top of page
DreamChaser Circle
Public·170 DreamChasers
bottom of page
Good question, yes as explained in the comment above mine - the euro contributes to the significance of ‘Europe’ as a whole since it’s the primary currency. Due to the union of 20 European countries (which rely on the Euros), they do not have to independently manufacture their own currency. As an agreement, they share their central banking system, so that 1 group doesn’t print more money for the sake of it or worst. This is why the union is vital. It also explains why the UK has always sought after their own independence because they favour their own sovereignty over the dependency of the union.
I hope that made sense.