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Economic and monetary issues - Coggle Diagram
Economic and monetary issues
All products and services in the EU are currently subject to specific standards .
EUROPEAN STANDARDS
Standards are technical specifications defining specific products and services requirements .
they are developed by following some basic principles such as
transparency
non-discrimination
consensus
MASS PRODUCTION
Standardisation is a prerogative in order to have a common market
It allows all member states to produce large quantities of food, clothes , and IT products, and sell them to other countries .
THE QUOTA SYSTEM
A quota is a trade restriction imposed by the government in order to limit the number ,or in certain cases the value ,of goods and services that can be imported or exported during a particular period
ECONOMIC AND MONETARY UNION
The need for a common currency and a common monetary policy was a logical consequence of the birth of a common market.
this is why ,today ,after the introduction of the euro ,we talk about Economic and Monetary Union .
THE EUROPEAN CENTRAL BANK (ECB)
It is main task is to maintain price stability for those countries that adopt the euro as their currency
NON EURO COUNTRIES
some of the countries belonging to the EU have not adopted the euro as a currency yet.
the countries still to adopt the euro are :
CZECH REPUBLIC
HUNGARY
CROATIA
POLAND
BULGARIA
DENMARK
SWEDEN
UK
ROMANIA